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7/23 Forrest Street, Kalgoorlie WA 6430

$375,000 Offers From

Search Band Search Visibility Band

$300k - $400k High Confidence Calculated based on strong search observations.

Unit 2 Beds 1 Bath 137 m² 58 m²

Listed: 7 days ago

Updated: 10 hours ago

Overview

This investment property presents a rare opportunity to acquire a well-maintained two-bedroom brick unit located at 7 / 23 Forrest Street in Kalgoorlie. Constructed in 1996 and situated on a 137 square metre allotment, the property offers manageable living space with approximately 58 square metres of floor area.

Leased to the WA Country Health Service (WACHS), the secure tenant has committed to a lease renewed in June 2026 for an additional two years, guaranteeing income until June 2028 at a competitive rent of $580 per week. This established tenancy provides prospective investors with peace of mind through lease certainty and a stable cash flow, reflected by an approximate gross rental yield of 8.0%, before expenses.

Prior to the tenant's occupancy in 2024, the property underwent significant improvements including the installation of new carpets and blinds in both bedrooms and living areas, as well as fresh painting and general maintenance. These enhancements ensure the unit is both presentable and functional, reducing the need for immediate upkeep.

The layout includes two bedrooms with built-in wardrobes, a combined bathroom and laundry, a separate toilet, and an open kitchen/dining area adjacent to a single living space. Electric cooking and hot water systems add to the ease of maintenance, while an easy-to-care-for courtyard with a garden shed complements the low-maintenance lifestyle this home offers.

Additional practical considerations include evaporative cooling, which contributes to occupant comfort during warmer months. The strata levy proposed for 2026/2027 is $2,142.86 per annum, with council rates yet to be confirmed and a nominal water connection fee of approximately $300 annually.

This property is ideal for investors seeking a secure and straightforward investment with a reliable tenant and low upkeep requirements. The solid rental income combined with long-term lease stability underscores the appeal for those prioritizing income security over active property management.

Two bedrooms with built-in robes deliver essential storage and comfortable private spaces.
Single living area and kitchen/dining configuration supports functional daily living and tenant convenience.
Recent upgrades ensure the property is rental-ready with minimal maintenance concerns.
Evaporative cooling enhances livability in Kalgoorlie's climate.
Courtyard and garden shed offer limited outdoor space without the demands of extensive upkeep.

With a long-standing professional tenant and a lease secured until mid-2028, this unit makes a compelling addition to any investment portfolio seeking dependable returns in a regional center.

Local Market Insights

In Kalgoorlie, Quiet Listings observed 4 new units entering the market over the last 30 days, unchanged from 4 in the prior period, with an average advertised asking price of $446,250. The property type mix of listed properties is predominantly Houses at 81%, followed by units (11%), and townhouses (6%). The most active agency for units in the Kalgoorlie area is currently John Matthew & Sons, representing 50% of new listings, followed by Elite Choice Real Estate with 25%. 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.