55/123 Wellington Street, East Perth WA 6004
55/123 Wellington Street, East Perth WA 6004
Top-floor rear position | north-facing balcony over pool | 93sqm internal with three robes | renovated bathroom and new kitchen appliances
This unit occupies a rare configuration within the complex—top floor at the rear, which reduces overhead noise and positions the living spaces away from street activity. The north-facing balcony overlooking the pool is a genuine differentiator for light and privacy, and the internal area of 93 square metres is generous for a three-bedroom apartment in this price bracket. The separate powder room and dual-access bathroom add practical separation for share households or couples, while the renovated kitchen and bathroom reduce immediate capital outlay. The complex’s pool, gym, and sauna lift appeal for owner-occupiers and tenants alike, and the rental estimate of $885 per week supports strong investor yield relative to the $769,000 valuation. This property best suits a professional couple, downsizer, or investor targeting the 20–39 age demographic that dominates East Perth.
The heritage overlay is the primary risk—it may restrict future external alterations or cladding upgrades, and buyers should confirm what obligations attach to the lot. However, the overlay is applied to the property rather than the building envelope, so interior renovation is likely unaffected. The 69-unit complex is moderately sized, which can mean variable strata governance; reviewing the last two years of minutes and the reserve fund position is advisable. On the opportunity side, the 2021 purchase price and recent listing activity suggest the vendor may be motivated, and the 23-day average days on market for three-bedroom units in East Perth signals steady turnover without panic. The absence of bushfire and flood overlays removes two common insurance and resale concerns, and the fibre-to-the-building NBN and 5G coverage are practical but not decisive.
Detailed Independent Property Report prepared by PropCred Analyst team for 55/123 Wellington Street, East Perth WA 6004
Checks found:
Value Risk
2
Liquidity Risk
2
Planning Risk
1
Income Risk
Execution Risk
2
URL has been copied successfully!
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.
URL has been copied successfully!
PropCred Estimated Value
Bedrooms
3
Bathroom
1
Parking
1
Land
121m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
·
Reviewed by Matt Proctor, Principal Analyst
URL has been copied successfully!