5 Stern Close, Waikiki WA 6169

1992-built family home | cul-de-sac quiet | leased to 2026 | ducted AC | workshop & hardstand This property presents a competitively strong, low-maintenance investment with immediate income security. Its four-bedroom layout, multiple living areas, and extensive outdoor entertaining spaces are rare for the coverage ratio on a 766sqm lot, serving a family owner-occupier or a passive investor seeking a long-term hold. The established tenancy at $700 per week until late 2026 provides cash flow certainty and reduces management burden, while features like ducted air conditioning, a powered workshop, and side access for a caravan add practical utility not found in newer builds. Proceed with the understanding that the estimated rental yield sits below 4%, which is modest for the area, and future capital growth is contingent on broader suburb performance without a visible redevelopment premium given the R12.5 zoning. The primary opportunity is securing a well-appointed, tenanted property in a stable location with minimal immediate capital requirements. This house is a hold for rental income; its configuration does not support a value-add play beyond market appreciation.