402/5 Shenton Road, Claremont WA 6010

2 bed, 2 bath, 2 car | 2019 build, premium finishes | Shenton College catchment | Strong long-term tenure profile. This unit presents a competitively strong proposition within its complex, defined by its dual-car parking and full second bathroom, features that are rare and command a premium in the apartment market. Its modern construction with high-quality finishes and position within the Shenton College intake area creates a durable appeal for both professional renters and owner-occupiers, ensuring sustained demand. The building’s pronounced profile of long-term residents indicates a stable, well-maintained community, reducing turnover volatility. The primary risk is the valuation premium relative to recent building sales; you are paying for configuration superiority over older comparables. This is justified only if held long-term to realise the growth differential. The established rental yield provides solid income coverage. Acquire this as a long-term hold to capitalise on its scarcity attributes, not for short-term trading. Recent sales within The Essence building demonstrate clear value stratification. The subject property’s estimated value sits above recent two-bedroom sales, reflecting its newer build date and superior specification. * Unit 512 (2/2): Sold for $886,000. * Unit 203 (2/1): Sold for $795,000. * Unit 212 (2/2): Purchased for $865,000. This data validates a material price increment for a two-bedroom, two-bathroom layout, supporting the subject’s valuation. The growth rates of 3.7-3.8% for two-bedroom units provide a credible benchmark for expected performance.