55/259-269 Hay Street, East Perth WA 6004

8th floor south-facing pool view | 98m² 3-bed | tenanted at $850/wk | strong rental yield potential The property offers a rare combination of size and position in East Perth: a genuine 3-bedroom layout at 98m² on the 8th floor with south-facing views over the pool and Adelaide Terrace creates a differentiated product in a market dominated by smaller two-bedroom units. The tenanted status at $850 per week provides immediate income, while the periodic lease gives the buyer flexibility to occupy or adjust terms. It suits an investor seeking above-market rental returns, with comparable units in the complex achieving gross yields between 6.85% and 8.04%, placing this property at the higher end of that range. The heritage and flood overlays introduce constraints that may limit future redevelopment or strata subdivision, but for a buy-and-hold investor these are manageable. The building’s tenure data shows 33% of owners have held for over 10 years, suggesting stable long-term occupancy. The recent sale of unit 21 at $535,000 for a similar 3-bedroom layout indicates potential pricing misalignment if this property is listed above that benchmark. The south-facing aspect, while offering views, may reduce natural light compared to north-facing alternatives.