7/54 Melville Parade, South Perth WA 6151

7/54 Melville Parade, South Perth WA 6151
2 bedrooms, 1 bathroom, 1 car space. Ground-floor apartment in a well-positioned South Perth location near the waterfront. Recently updated finishes. Fully furnished. Tenanted until August at $330 per week. The building complex sits on a 1937m² lot. This unit offers a rare combination of immediate rental income and a premium location. The ground-floor position provides easy access and a private entry, while the recently updated finishes and full furnishings make it a turnkey opportunity for an investor. Being in the heart of South Perth, moments from the Swan River, this property sits in a suburb known for strong demand and lifestyle appeal. It best serves a buyer looking for a low-maintenance investment with existing tenancy and proven yield, or someone seeking a lock-and-leave residence in a sought-after riverside suburb. The current tenancy at $330 per week may be below market potential for a 2-bedroom unit in this location, which could allow for rental growth after the lease expires. The ground-floor aspect might also limit natural light and privacy compared to upper levels, potentially affecting long-term appeal for owner-occupiers. The wide price range between recent sales in the building suggests variability in unit condition and positioning, so the final sale price will depend on how this unit compares to those benchmarks.
Detailed Independent Property Report prepared  by PropCred Analyst team for 7/54 Melville Parade, South Perth WA 6151
Checks found:
Value Risk ! 1
Liquidity Risk
Planning Risk ! 1
Income Risk ! 1
Execution Risk
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Market Insight

South Perth is a premium riverside suburb offering exceptional lifestyle and CBD proximity. Demand is driven by downsizers, interstate migrants, and those priced out of eastern capitals, competing for limited stock in a chronically undersupplied market. This has fuelled strong recent price growth across housing segments. Future growth is underpinned by sustained migration and low vacancy rates, though key constraints include declining affordability and a persistent shortage of listings, particularly at entry-level price points.
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PropCred Estimated Value

Bedrooms

1

Bathroom

1

Parking

-

Land

1937m²

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