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

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.
Detailed Independent Property Report prepared  by PropCred Analyst team for 55/259-269 Hay Street, East Perth WA 6004
Checks found:
Value Risk ! 1
Liquidity Risk
Planning Risk
Income Risk 2
Execution Risk
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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

Bedrooms

3

Bathroom

2

Parking

1

Land

137m²

Research & Review Prepared by Steve Dalton, Senior Analyst · Reviewed by Matt Proctor, Principal Analyst
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