52/259-269 Hay Street, East Perth WA 6004

52/259-269 Hay Street, East Perth | 2-bed, 2-bath, 1-park | 82m² internal | strong rental yields above 6.8% | investor-heavy building with short holding periods This unit sits in a building where 2-bedroom apartments have consistently delivered gross rental yields between 6.85% and 8.04%, which is notably strong for an inner-city Perth location. The 82m² internal area is generous for a two-bedroom apartment, giving it an edge over smaller studio-style units in the same precinct. The building’s high proportion of short-term owners (39% within three years) suggests active investor churn, meaning motivated sellers may emerge. For a buyer seeking cash flow rather than capital growth, this property’s rental performance and proximity to the CBD make it a functional choice, particularly if acquired below the recent $550k–$580k comparable range. The primary risk here is the building’s mixed growth history—some units have seen negative annual growth over long holds, and the 10-plus-year owners represent only a third of residents, indicating limited long-term confidence. The absence of current listings for this exact unit means you are buying blind to its internal condition and any strata issues. The opportunity lies in the rental yield: at 7% or above, the property effectively pays its own holding costs, reducing downside risk in a flat market. If you can negotiate below $520k, the yield buffers against slow capital appreciation. Hold this for income, not flipping, and monitor the building’s sinking fund and management quality closely.