502/122 Brown Street, East Perth WA 6004
502/122 Brown Street, East Perth WA 6004
2 bed 2 bath 2015 build | East Perth apartment | $740/week rent signal | heritage overlay noted | owner-occupier or investor fit
This unit holds a genuine edge in East Perth’s apartment market. The 2015 build gives you modern construction, double-glazed windows likely, and efficient layouts that older stock simply doesn’t offer. Two bedrooms with two bathrooms is a configuration that works well for professionals sharing, a couple wanting guest flexibility, or an investor targeting the upper end of the rental pool. The 187 m² lot size, while strata-titled, suggests a larger-than-usual footprint for an apartment, which could translate to a more generous internal floor plan or balcony space compared to the compact 1×1 units that dominate this pocket. Being in the Highgate Primary and Bob Hawke College catchments adds a layer of appeal for families or long-term tenants, and the proximity to Claisebrook Station, the river, and the CBD makes it a lifestyle purchase as much as a practical one. This suits a buyer who wants lock-and-leave convenience without sacrificing space or quality.
The heritage overlay on the site is the factor to weigh most carefully. It may limit future alterations or redevelopment, but for a 2015 apartment, that’s rarely a practical constraint—you’re buying a finished product, not a development opportunity. Strata fees are a recurring cost that will shape your net return, and the building’s shared facilities, like the rooftop terrace and secure parking, add value only if they’re well maintained. The estimated $740/week rent against a $780,000 price point suggests a gross yield near 4.9%, which is reasonable for inner-city stock, but the actual figure will hinge on floor level, aspect, and condition—none of which are confirmed for this specific unit. A south-facing outlook or a lower floor might soften the rental appeal, while a higher position with river or city views could push it higher. The 2×2 format is rarer than the 1×1 investor units nearby, so demand should hold, but you’re paying for that scarcity.
|| Comparable Sales: 311/122 Brown Street sold $540,000 (2x1x1); 405/122 Brown Street listed as 2×2 with 89 m² total | Property Price Band: $700K–$800K | Value Drivers: floor level, aspect, internal size, and condition relative to same-building sales
Detailed Independent Property Report prepared by PropCred Analyst team for 502/122 Brown Street, East Perth WA 6004
Checks found:
Value Risk
Liquidity Risk
2
Planning Risk
2
Income Risk
Execution Risk
1
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Market Insight
East Perth’s proximity to the CBD and transport infrastructure underpins its desirability. Demand is driven by investors and first-home buyers competing for limited stock, particularly at the market’s lower end, supported by strong population growth. This competition, amid a severe shortage of listings, has accelerated price growth and compressed selling times. Future momentum relies on the persistent supply-demand imbalance, though the primary constraint remains the acute shortage of quality housing stock.
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PropCred Estimated Value
Comparable Sales: 311/122 Brown Street sold $540,000 (2x1x1); 405/122 Brown Street listed as 2×2 with 89 m² total | Property Price Band: $700K–$800K | Value Drivers: floor level, aspect, internal size, and condition relative to same-building sales
Bedrooms
2
Bathroom
2
Parking
1
Land
187m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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