5/81-83 Shakespeare Avenue Yokine WA 6060

Ground floor | 2-bed unit | tenant locked to 2027 | renovated | Yokine This unit’s strongest buying case is its combination of a secure, long-term tenant and a recently renovated interior—two features rarely paired in this price bracket. The ground-floor position in a 25-unit complex offers convenience and lower vacancy risk, while the 55m² internal area is efficient for rental demand. The property suits an investor seeking immediate, predictable cash flow without renovation or leasing delays, particularly given Yokine’s tight market with a median days-on-market of six and strong owner-occupier demographics. The primary risk is limited capital growth potential: the building’s historical sales show modest annual appreciation (7–27% over varying periods), and the 510.95m² strata lot is shared across 25 units, constraining redevelopment upside. The tenant’s lease until 2027 locks the buyer out of owner-occupier or short-term rental strategies, and the 34% population over 60 suggests subdued local demand for larger units. On the opportunity side, the current rent yield (estimated 7.03%) is above Yokine’s median, and the recent renovation reduces maintenance calls. This property should be held as a passive income holding, not a renovation or flipping play.