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Back 9/40 Lockwood St
Off Market

9/40 Lockwood St

Yokine WA 6060

2
1
14
Unit
Ronnie AbboudRonnie Abboud, last sold this property on 03 September 2025 after -98 days on market.

Overview

9-Unit Apartment Complex With Room For More

For Sale By Tender: Offers submitted by 18th of August 2025. - The Seller reserves the right to accept an offer prior to the closing date. Situated in the highly sought after suburb of Yokine, 40 Lockwood Street presents an exceptionally rare opportunity for a lucrative short-term and long-term investment. The existing Units are all leased and offer an immediate rental income of approx. $222,000 per annum, yet they occupy only a fraction of the 2,228 m² block. The huge R40 zoned lot is bordered by dual street frontages and can support a potential redevelopment of up to 19 new Units, offering a significant return on investment for developers. (STCA) The Reader Park Apartment Complex is comprised of 9 two-bedroom, one-bathroom Units that have been well maintained and updated over the years. Built in 1968 and designed with large communal open spaces, the site is primed for a modern redesign to fully capitalise on the space and the consistent growth of the Yokine property market. Directly adjacent to Reader Reserve and located moments away from local cafés, Dog Swamp Shopping centre, and a short drive to Perth CBD, this site integrates with the best aspects of living in Yokine, making it attractive to tenants and owner-occupiers alike. Whether you choose to redevelop straight away or simply maintain a high-yield investment, this opportunity delivers flexibility that few metropolitan offerings can match. Add Yokine's proven tenant demand, proximity to schools, Mount Lawley ECU, public transport, and the CBD, the proposition moves from attractive to compelling. Features: • 2,228 m² corner lot, R40 Zoning. • Block dimensions approx. 55.84m x 40.23m • 1968 Built, 2-story brick apartment complex. • 9 x Individually Titled Units: 2-bed, 1-bath (all leased) • Internal Unit size approx. 71.5 m² • Gross rental yield of approx. $222,500 p.a ($4,280 p/w) • City Planner has advised the site and current zoning can support a maximum of 19 units, depending on design. (STCA) • On-site Water Bore • Reticulated Lawns and Garden Beds • 9 Undercover Parking spaces plus visitor bays • Strata Fees Approx. $885.30 p.q per unit ($759.20 Admin|$126.10 Reserve) Location: • 50m to Reader Reserve • 900m to Dog Swamp Shopping Centre • 1km to Lot Six Zero Café • 1.3km to Yokine Play Space • 1.5km to WA Golf Course • 1.6km to Yokine Primary School • 3km to ECU Mount Lawley • 3.5km to Mitchell Freeway • 6.3km to Perth CBD All distances are approximate and via road. Ronnie Abboud 0481 962 880 Disclaimer: All information provided is for general purposes only. No guarantee is given regarding accuracy, and interested parties should complete their own independent due diligence. All distances quoted are approximate. Internal photos are of unit 9 to serve as an example and were taken prior to the tenant moving in and should therefore be used for reference only.

Features

2 bedrooms
1 bathroom
14 carspaces
14 garage spaces
Unit

Estimated Value

Based on this property and similar 2 bedroom units sold in Yokine over the last 12 months, the estimated median property value of 9/40 Lockwood St is $570k.

Median value
$570k
Estimated value range
$515k - $688k
Median days on market
28
Estimated value trend
19%
increase over the last 12 months
Average days on market is based on recent, comparable sales in Yokine. It is only an indication of the time a property is actively listed and should not be relied upon as an accurate representation of how soon a property will be sold.

Property history for 9/40 Lockwood St

2025
Sold
03 Sep 2025 by Ronnie Abboud, of Professionals TWT Realty - Balga
2017
Sold
Undisclosed
Private Sale/Treaty on 27 May 2017

Happy sellers in Yokine

92%
92% of sellers in Yokine reported that their sale price either exceeded or met their price expectations.

Yokine stands out for consistently delivering exceptional satisfaction and strong market results for homeowners.

This is based on voluntary sentiment collected from 67 reviews in Yokine over the last 12 months.

Local market activity for 2 bedroom units in Yokine

In the last 12 months, 19 two-bedroom units similar to 9/40 Lockwood St, have been sold.

This represents a 42% decrease in two-bedroom units sales when compared to the previous 12 months.

Nearby agents

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Paul Holdsworth

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Ben Noakes

Ben Noakes is a recommended agent for Yokine.  They have 3 local sales and collected 6 local reviews across the last 12 months.

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