56/38-42 Waterloo Cres, East Perth WA 6004

High floor outlook | renovated compact one-bedroom | secure parking included | long-term tenant secured to 2027 This is a well-presented compact one-bedroom apartment on the second-highest floor, offering river and WACA views that are uncommon for its size. The inclusion of secure parking and a balcony lifts it above typical entry-level stock in East Perth, while the renovated finish suggests lower immediate maintenance. With a tenant in place until mid-2027 at $500 per week, it is best suited to an investor seeking immediate, predictable income from a walkable CBD-fringe location. The 45-square-metre floorplan is a constraint for owner-occupiers wanting space, and the long lease may deter those seeking early vacancy. The building’s age and total unit count are not confirmed, which could affect future strata costs or capital works levies. A buyer should weigh the strong current yield against the limited flexibility of a compact layout and the potential for above-average outgoings in an older complex.