Images and floorplans are provided for illustrative purposes and remain the property of their respective copyright owners.

208/201 Hay Street, East Perth WA 6004

$410,000

Search Band Search Visibility Band

$410k - $431k Transparent Transparent Listing Based on an openly advertised listing price.

Apartment 2 Beds 2 Baths 85 m²

Listed: 4th Aug 2026

Updated: 14th Aug 2026

Overview

This property represents a distinctive investment opportunity within the premium Mantra on Hay complex in East Perth. Positioned closely to the Perth CBD and vibrant natural surroundings such as Langley Park and the Swan River, it benefits from both convenience and appeal to short-stay guests.

Leased securely to the Panache Hotel Group under an initial 3-year lease commencing July 2023, the apartment offers investors a stable, hands-off income stream. The lease includes quarterly rent payments with annual 3% increases, and options for lease extensions provide potential for long-term investment security. A Furniture, Fittings and Equipment reserve levy of 5% ensures continual upkeep of the apartment's interiors, maintaining quality and appeal to guests.

The apartment's 85sqm floor area is intelligently divided into 78sqm internal living space complemented by a 7sqm balcony, providing an inviting environment for guests. Although the apartment does not include parking, the building offers extensive hotel-style amenities such as a heated indoor pool, gym, conference facilities, and multilingual staff services, catering to diverse visitor needs.

The functional design includes 2 bedrooms and 2 bathrooms, including an ensuite, and is fully furnished with modern conveniences such as split-system air conditioning and laundry facilities. These features enhance its operational ease and attractiveness for short-term renters, making it ideal for investors seeking a low-maintenance asset in a prime location.

Investor-only purchase reflecting a fully operational hotel apartment arrangement.
Secure lease managed by an experienced hotel group, offering rental stability with scheduled annual increases.
Strategically located close to key city amenities and recreational spaces, enhancing rental appeal.
Access to high-quality onsite hotel services including a pool, gym, housekeeping and business facilities.
Suitable for personal super fund investment or cash buyers looking for passive income.

This investment suits buyers seeking a well-managed, hassle-free property in a sought-after urban precinct, with an assured rental yield of approximately 5.08%. Prospective investors are encouraged to consider how this asset aligns with their investment objectives and long-term financial strategy.

Local Market Insights

In East Perth, Quiet Listings observed 21 new apartments entering the market over the last 30 days, down from 34 during the previous 30-day period, with an average advertised asking price of $582,238. The property type mix of listed properties is predominantly Apartments at 88%, followed by units (4%), and houses (4%). The most active agency for apartments in the East Perth area is currently Inhabit Property, representing 24% of new listings, followed by Ljhooker with 19%. These insights are based on agencies currently monitored by Quiet Listings and are updated as the local market changes.

While every effort is made to ensure the accuracy and completeness of the property information provided, no guarantee is given. Buyers should independently verify all details, inclusions, availability, pricing, and other relevant information directly with the listing agent before relying on this information.