38/46 Smith Street

Highgate WA 6003

68 m²

72 m²

Apartment

Last sold for $625,000

Angie Taylor, last sold this property on 14 January 2026 after 34 days on market.

Overview

Prime Investment with Immediate Returns

This two-bedroom apartment offers a compelling opportunity for astute investors seeking immediate returns and secure, long-term tenancy in a high-demand inner-city location. Positioned on the city fringe in the highly sought-after suburb of Highgate, this property provides the ultimate lifestyle appeal that consistently attracts quality tenants. The apartment is currently secured by a lease until October 2026 at $660 per week, offering guaranteed rental income and seamless handover. The "Peachtree Lane" complex, a well-maintained low-rise development from the mid-1980s, offers resort-style amenities that elevate its rental appeal. Residents enjoy secure, remote-controlled gated access, a fabulous swimming pool area, and a full-size tennis court. The apartment itself is situated on the second floor, accessible directly from the secure undercover carpark via a newly renovated lift-a significant drawcard for tenants. The location is second to none, just a short stroll to the famed Beaufort Street strip, providing instant access to a vibrant array of cafes, restaurants, bars, and shops. Furthermore, the property falls within the highly desirable catchment areas for Highgate Primary School and Mount Lawley Senior High School. The apartment itself is well-designed for comfortable tenancy and low maintenance. It features a spacious, fully tiled interior, anchored by an open-plan kitchen and living/dining area. This main space opens onto a private outdoor balcony overlooking the complex swimming pool, enhanced by mature greenery. Comfort is assured with a wall-mounted reverse-cycle split-system air-conditioner in the living area.. The floorplan is ideal for co-tenancy, with two good-sized bedrooms strategically separated for privacy and both featuring built-in robes and ceiling fans. The bathroom is functionally combined with the laundry, featuring an oversized shower recess and ample storage with overhead cupboards. This property represents a stable and reliable asset in a blue-chip location. The fixed term lease to October 2026 offers rare certainty in rental income, streamlining the investment process. Details at a Glance Year Built: 1986 (approx.) Lot Size: 72sqm (Residence 68sqm I Balcony 4sqm + car bay) Council: City of Vincent Council Rates: $1,840.97 p/a (approx.) Water Service: $1,269.17 p/a (approx.) Strata Levies: $1,140 p/qtr (Admin $720 + Reserve $420) Investors are urged to capitalise on this exceptional opportunity to secure a high-demand property with an established, long-term tenancy in place. Contact Angie Taylor on 0417 946 056 or email angie.taylor@raywhite.com for more information.

Features

2 bedrooms

1 bathroom

1 carspace

1 carport space

68 m² floor area

72 m² lot size

Apartment

Estimated Value

Based on this property and similar 2 bedroom apartments sold in Highgate over the last 12 months, the estimated median property value of 38/46 Smith Street is $685.5k.

Median value

$685.5k

Estimated value range

$485k - $915k

Median days on market

Estimated value trend

14%

increase over the last 12 months

Average days on market is based on recent, comparable sales in Highgate. It is only an indication of the time a property is actively listed and should not be relied upon as an accurate representation of how soon a property will be sold.