4/26 Little Walcott Street North Perth WA 6006

North Perth for $479,000? Numbers People, This One's for You!

At just $479,000, this modern North Perth apartment is priced $101,000 below a recent $580,000 sale and $201,000 below two sales at $680,000. Add an estimated rental return of $680–$720 per week, and suddenly the calculator starts getting interesting!

Some buyers see the strata fees. Others see the opportunity. If you understand property and know how to crunch the numbers, this one deserves a closer look!

Built in 2016, just 3.7km from Perth CBD, with a private courtyard and easy-care living, this could be a clever buy for the right person.

The catch? The strata fees are currently $3,738 per quarter. We're not hiding from that — we're putting it on the table. The real question is whether the asking price makes the overall numbers work for you.

The calculator is calling!

Let's look at the numbers:

Asking price: $479,000

Recent local sales: $580,000 and $680,000

Estimated rent: $680–$720 per week

Estimated gross rental yield: 7.4%–7.8%

Strata levies: $14,952 per year

Built: 2016

Location: North Perth, approximately 3.7km from the CBD

Those recent sale prices aren't a formal valuation of this apartment, and differences between the properties — including strata costs — need to be considered. But they certainly give buyers something to investigate.

So, why are the strata fees higher?

The levies have increased from approximately $1,200 per quarter following a strata loan facility established to fund substantial remedial waterproofing and maintenance works across the complex.

Works included podium waterproofing, drainage improvements, concrete repairs and courtyard works.

The strata manager has advised there are currently no plans for further withdrawals from the loan facility, although future withdrawals cannot be ruled out.

As always, we encourage buyers to review the strata records, loan documentation, meeting minutes and information before making a decision.

A little apartment with plenty going for it

Beyond the numbers, you've got a modern, low-maintenance home in a handy North Perth location.

Ground-floor apartment with private alfresco courtyard

One bedroom and one bathroom

Light-filled open-plan living and dining

Contemporary kitchen with excellent storage

Split-system air conditioning

Quality window treatments

Easy lock-and-leave lifestyle

Cafés, restaurants, shopping and public transport are close by, with Hyde Park, Mount Lawley, Leederville and Highgate all within easy reach.

Investor maths

At the estimated rent of $680–$720 per week, annual gross rent would be approximately $35,360–$37,440.

After the current annual strata levies of $14,952, that leaves approximately $20,408–$22,488 per year before council rates, water rates, insurance, management fees.

The gross yield looks attractive on paper, but the net return is what matters. Do your homework, check the figures and decide whether it stacks up for you.

Bargain hunter? Property nerd? First-home buyer?

If you know that buying well is about more than finding the prettiest property on the market, this one could be right up your street.

$479,000. North Perth. Modern living. Private courtyard. A price worth investigating.

You do the maths. Come see the apartment. Decide if you've found your next smart move.

Contact Cindy King or Alistair Caffel to arrange your inspection.

Cindy King — 0411 208 202
Alistair Caffel — 0402 785 877
cindyandalistair@theagency.com.au

The Agency | Perth

Disclaimer:
This information is provided for general information purposes only and is based on information provided by the Seller and may be subject to change. No warranty or representation is made as to its accuracy and interested parties should place no reliance on it and should make their own independent enquiries.

Property Features

• Air Conditioning
• Built In Wardrobes
• Courtyard