26C Eden Street Innaloo WA 6018

Park adjacency with private gate access | Long-term tenant at $650pw willing to stay | Rear unit in North Innaloo | 3-bedroom, 2-bathroom townhouse configuration This property offers a rare combination of park-front privacy and immediate rental income stability, making it a strong proposition for an investor seeking a low-management holding in a growth corridor. The direct gate access to Yaluma Park is a genuine differentiator in this price bracket, effectively extending the usable outdoor space without landholding cost. The existing tenant since 2018 at below-market rent provides immediate cash flow certainty, with clear headroom to adjust toward the $800+ market rent upon vacancy or lease renewal. The townhouse configuration—separate powder room, ensuite, balcony overlooking park—appeals to professional couples or small families, a demographic with consistent demand in Innaloo given its proximity to shopping centres and the Mitchell Freeway. The primary risk is the 206m² land component, which is small for a townhouse and limits future redevelopment potential; this property functions best as a long-term hold rather than a land bank. The current $650pw rent is approximately $150pw below market, representing a deliberate discount for tenant stability that a buyer must accept or plan to adjust at lease end. The Stirling council area and Yuluma Primary School intake add baseline demand, but the property lacks the scarcity of a house on a larger lot. For an investor, the commercial logic is clear: acquire for the park position and tenant in place, then execute a modest rent increase at the next renewal to lift yield toward 4%. For an owner-occupier, the park access and rear-unit privacy offer a quiet lifestyle within commuting distance of the city. Hold this property for steady rental growth and capital appreciation driven by Innaloo’s 13% growth trajectory, not for short-term flipping.