This is a rare chance to secure one or both of two 430m² green titled blocks in the heart of East Victoria Park. Currently, an older rentable house sits across both lots. The sellers have plans to demolish the house as soon as the necessary permits are received, presenting buyers with multiple opportunities to invest, develop, or build their dream home.
Located within walking distance of Fraser Park and Ursula Frayne College, these properties are in a prime position just moments from the vibrant Albany Highway café and shopping precinct. Curtin University is only 4km away, making this a fantastic location for student accommodation, while the Perth CBD is just 7km away. Public transport is easily accessible, with bus services on Berwick Street, providing convenience for city commuters and helping to future proof transportation and parking costs. Kent Street High School and other local amenities are also just a short distance away.
For buyers looking to invest, the option to purchase the property as-is offers immediate rental income. The existing three bedroom home with a sleep-out is well suited for singles or a young family. The property has a strong rental history, with current tenants paying approximately $650 per week. With ample onsite parking for up to four tenants and their guests, it presents a solid investment with on call redevelopment potential. All essential services, including gas, water, electricity, and NBN, are already connected. As a double block property with only one council rates notice, this option also provides cost savings while offering flexibility for future plans, whether that involves retaining one block and selling the other or constructing a larger home across both lots.
For those interested in purchasing a single block, the sale will be subject to the demolition of the existing house. Both blocks have been green titled for over 60 years, meaning no subdivision approvals are required. Once a contract is in place, the sellers will proceed with demolishing the house, clearing the land, removing vegetation, re-pegging the site, and replacing existing asbestos fencing with modern Colorbond fencing. This ensures that buyers will receive a ready to build site, perfect for designing the ideal home or investment property.
With a sought after location, excellent street orientation, and close proximity to parks, schools, and major amenities, this property presents an outstanding opportunity for investors, developers, and homeowners alike. Whether you're looking to purchase the entire property, secure one of the blocks, or take advantage of the existing rental income, this is a unique chance to be part of the exciting transformation of East Victoria Park.
Option 1:
Purchase As-Is and rent out the property as long as needed. It is a 3 bed plus sleep-out property suiting 3 to 4 singles or young family. Toilet is separately located from the bathroom. Being a double block there is enough onsite parking for 4 tenants as well as their guests. Being close to the Curtin University finding student tenants should be easy. The current tenants have been at the property for several years. Approximate rental returns are north of $650pw.
Gas, Water, Electric Power and NBN already connected.
Buyer gets income earning house which is sitting on 2 green titled lots. These 2 lots are group rated with only one council rates notice thus saving on council rates. In the future you can demolish the house, sell both the blocks, retain 1 and build on the other or may be build larger house straddling both the lots.
Option 2:
Purchase 1 lot with the condition settlement happens after the house is demolished by the sellers at their expense. Buyer to note both blocks are green titled already (for the last 60 or so years) and no sub-division approvals are required. Upon entering the contract, the sellers will demolish the house, remove vegetation and roots and rack the site to 800 mm depth, re-peg the site, replace existing asbestos fencing with colorbond fencing.
Option 3:
Purchase both lots with the condition settlement happens after the house is demolished by the sellers at their expense.
