21 Odin Road is one of the rarest, development sites that has hit the Innaloo market in a long time. It is a renovated 2-bedroom 2-bathroom property on a flat, full quarter-acre/1,012m^2 land holding in the rezoned Innaloo precinct in the heart of Innaloo.
This is a potentially up to 4-storey residential development site, contained within the Sub Precinct Area 2 under the Innaloo Precinct.
The home on this block has been renovated significantly within the last few years into an extremely hospitable abode. It features two bedrooms, two bathrooms, alongside a theatre or potential 3rd bedroom.
The rental potential is estimated to be atleast $800/wk or above, generating significant income for the new owner.
With the first homebuyers 5% deposit scheme being introduced nation wide on October 1st, developing apartments has just become significantly more lucrative, with the price increase moving forward to be greater than otherwise initially anticipated.
The home itself, containing significant value from the renovations, could be cut off the stumps and sold to someone who may transport it onto a vacant block of land. Given building costs and the extent of the housing crisis at the moment, its a very viable option for some, and certainly a value-adding factor which can't be overlooked.
Water Rates: $1,003.28 FY 24/25
Council Rates: $1,648.81 pa
For more informaiton, please contact your Area Specialist Reilly Cunningham on 0415 222 970 or reillyc@areaspecialist.com.au
▶
