Outstanding 911sqm Development Opportunity with $1600pw Rental Income
Houses can be sold separately
Superbly positioned in one of Innaloo's most sought-after streets, this substantial 911sqm development site presents an exceptional opportunity for developers, investors, families and land bankers alike.
Conveniently located only a short drive from Scarborough Beach and within easy reach of Karrinyup Shopping Centre, Westfield Innaloo, Lake Gwelup Reserve, schools, public transport and major retail precincts, this is a location that continues to grow in appeal.
Zoned R40 with approximately 20.1m of street frontage, the property offers exciting future development potential, subject to the relevant approvals. The slightly elevated rear portion of the site may also offer potential outlooks towards Lake Gwelup.
The property currently comprises two renovated duplex homes, offering a combined rental return of $1600 per week and providing valuable holding income while future plans are considered.
Potential Options:
Option 1: Explore subdivision and development opportunities, subject to relevant approvals.
Option 2: Develop up to 4 single or double-storey homes to meet strong buyer demand for quality new homes in Innaloo.
Option 3: Retain the existing tenants and collect approximately $1600 per week while holding the land for future development.
Option 4: Live in one residence while renting the other, helping offset holding costs while securing a substantial landholding in a high-growth location.
Features of the Existing Homes:
Two renovated duplex residences
Large open-plan living areas
Private internal courtyards
Six bedrooms in total
Two renovated bathrooms
Built-in robes
Renovated kitchens and bathrooms
Garages with direct internal access
Reverse-cycle split-system air conditioning
Fireplaces
Alfresco areas
Landscaped gardens
Hard-wired smoke alarms and RCDs
Ample parking for boats, caravans or additional vehicles
Opportunities of this size, location and flexibility are increasingly hard to find.
Call Jorden Peirce for more information
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