8/838-842 Hay Street, Perth WA 6000

1 bed/1 bath apartment in a heritage building; offers over $469k signal strong buyer interest; rental yields of 6–8% from similar units; Perth CBD core with 12% suburb growth momentum. Compact one-bedroom apartment in a heritage-listed complex offers city living without car dependency, ideal for young professionals, single renters, or investors seeking high yields in the CBD. Located on a vibrant Hay Street strip, it benefits from foot traffic from offices, bars, and transport hubs like Perth Station, blending historic charm with modern convenience. It’s within walking reach of Yagan Square, Northbridge nightlife, and Elizabeth Quay in under 10 minutes, though noise from trams and crowds may deter families. Demand remains robust for inner-city units, with quick listings and multiple offers common due to limited supply and professional influx. It suits buyers seeking entry-level CBD ownership or passive income—low maintenance, no parking hassles, and fully furnished options in the complex appeal to short-term lettings. The layout uses about 70 sqm efficiently, with open spaces suited to solo dwellers or couples. Proximity to Highgate Primary and St George’s Anglican Grammar secondary schools, plus available childcare within 1 km, attracts young families to urban apartments. Demographics skew professionals aged 25–40, with many owners indicating long-tenure tenancies. Rental potential sits at about $550–$600 per week based on recent leases, yielding 8%+ for investors, supported by CBD revitalization, new office towers increasing daytime population, and Hay Street’s pedestrian upgrades. Value-add opportunities exist through renovations or pivots to short-term lets given tourism rebound, while risks include slower resale in softer high-end segments, heritage restrictions on alterations, and street-level noise affecting sleep-ins.