Offered for sale via Expressions of Interest closing 3 June 2026, the property presents a scarce opportunity to secure 100 per cent freehold ownership of an entire residential complex in one of Western Australia’s most tightly held coastal suburbs.
Positioned on a prominent 1,977sqm corner site less than 500 metres from Trigg Beach and Mettams Pool, the two-storey walk-up comprises 11 apartments, 10 two-bedroom units and one one-bedroom, all fully tenanted and generating immediate income.
RWC WA marketing agents Stephen Harrison and Brett Wilkins, say the offering is almost without precedent in the current market.
“This is the kind of asset institutional and private investors spend years trying to find,” Mr Harrison said. “You’ve got 100 per cent occupancy, strong in-place income from day one, and a clear pathway to rental uplift as leases roll - all sitting on an irreplaceable coastal landholding.”
The property is currently returning $289,360 in net passing income, with all 11 leases scheduled to expire progressively between July 2026 and May 2027. This staggered expiry profile provides what Mr Wilkins describes as “a rare window for investors to actively reposition rents in line with market growth.”
“There’s embedded upside here. As each lease renews over the next 12 months, a new owner has the ability to capture the strong rental growth we’re seeing across Perth, particularly in premium beachside locations like Trigg.”
Originally constructed in the 1970s, the complex has undergone a comprehensive transformation since its acquisition by the current institutional owner in 2021. All apartments have been upgraded with new kitchens, bathrooms, flooring, window treatments, air-conditioning and solar, positioning the asset as a low-maintenance, “set-and-forget” investment.
“What’s particularly compelling is that the heavy lifting has already been done,” Mr Harrison added. “The capex cycle is effectively complete, so investors can focus purely on income and growth rather than refurbishment risk.”
The sale comes amid surging demand for Perth residential assets, with the city widely regarded as Australia’s strongest-performing capital market. Vacancy rates remain near historic lows at around 0.5 per cent, while rental and price growth forecasts continue to draw interstate capital westward.
“We’re seeing a significant influx of Eastern States buyers chasing yield and growth in Perth,” Mr Wilkins said. “Assets like this - fully leased, single-title residential blocks in blue-chip coastal locations - are exactly what that capital is targeting.”
Unlike typical strata-titled apartment offerings, 55 Lynn Street is held on a single title, giving the purchaser full control over leasing, management and any future repositioning.
“That level of control is incredibly rare in this market,” Mr Harrison said. “You’re not dealing with strata complexities; it’s one owner, one asset, 11 income streams.”
The property is expected to attract a broad range of buyers, including private investors, family offices, syndicators and developers seeking exposure to Perth’s strengthening residential sector.
With limited comparable sales and tightly constrained supply along the Trigg coastline, agents say the campaign is likely to generate strong competition.
“Opportunities to acquire an entire, stabilised apartment block this close to the beach simply don’t come up often,” Mr Wilkins said. “It’s a genuine chance to secure a foothold in one of Perth’s most tightly held coastal markets at a time when the fundamentals are exceptionally strong.”
