33/4 Bulwer Street, Perth WA 6000

| 1970 apartment | 49m² | East Perth | tree-top balcony | secure carport | This property offers a rare inner-city configuration: a compact two-bedroom unit with a genuine balcony and treetop outlook, a feature that commands premium demand among downsizers and investors in the Tower Ridge complex. The 49m² floor plan, while modest, is efficiently laid out with open-plan living and full-height glazing, maximising the sense of space. Its location within walking distance of Northbridge and the CBD, coupled with secure parking and the complex’s established gardens, positions it as a low-maintenance holding for owner-occupiers seeking lifestyle proximity or investors targeting stable rental yields in a tightly held pocket of East Perth. The primary risk is the 1970 build quality, which may present higher strata levies or future special levies for common property upgrades, though current quarterly fees are reasonable. The small floor area limits appeal to families and may constrain capital growth relative to larger units in the same suburb. However, the property’s strong rental demand (estimated $590–$700 per week) and below-median asking price relative to two-bedroom Perth units offer a logical entry point. Hold for steady rental income or as a city-base residence; flip only if the East Perth market sees sustained buyer competition for sub-50m² apartments.