This study is aimed to investigate the seismic performance of low-rise precast wall system with base isolation. Three types of High Damping Rubber Bearing (HDRB) were designed to provide effective isolation period of 2.5 s for three different kinds of structure in terms of vertical loading. The real size HDRB was manufactured and tested to obtain the characteristic stiffness as well as damping ratio. In the vertical stiffness test, it was revealed that the HDRB was not an ideal selection to be used in isolating lightweight structure. Time history analysis using 33 real earthquake records classified with respective peak ground acceleration-to-velocity (a/v) ratio was performed for the remaining two types of HDRB with relatively higher vertical loading. HDRB was observed to show significant reduction in terms of base shear and floor acceleration demand in ground excitations having a/v ratio above $0.5g/ms^{-1}$, very much lower than the current classification of $0.8g/ms^{-1}$. In addition, this study also revealed that increasing the damping ratio of base isolation system did not guarantee better seismic performance particularly in isolation of lightweight structure or when the ground excitation was having lower a/v ratio.