SoldJun 20, 2024

Etwell Street East Victoria Park WA 6101

Amount undisclosed

15
3
807 m²

House

1 day on the market

Sold: Jun 20, 2024

Redevelopment opportunity with strong income...

For sale via Expressions of Interest. Opportunity awaits with this unique offering of this Green Title property on 807sqm of land area, in the thriving suburb of East Victoria Park, providing strong income while offering various opportunities for redevelopment in a sought-after hub within 5kms of the Perth CBD. Current gross income is circa $330,000pa. Net Income Circa $215,000pa Provides a NET YIELD of around 8.0% The property includes... - 807sqm site area - Currently operating as short-term accommodation - 15 rooms across 2.5 floors - Mix of single and double rooms - 100% occupancy 66b Etwell Street has been consistently in high demand from students with proximity to public transport routes, Curtin University, the Vic Park precinct, and the Perth CBD. The premises include a common lounge, dining, kitchen, bathroom and laundry facilities. Secure car parks are also located at the property. Zoned Local Centre, these three properties have a plethora of uses available to them including... Permitted Uses: Child Care Premises, Consulting Rooms, Educational Establishment, Fast Food Outlet, Home Office, Liquor Store-Small, Lunch Bar, Office, Place of Worship, Restaurant/Cafe. Discretionary Uses: Amusement Parlour, Art Gallery, Betting Agency, Car Park, Civic Use, Commercial Vehicle Parking, Community Purpose, Convenience Store, Exhibition Centre, Grouped Dwelling, Home Business, Home Occupation, Home Store, Hospital, Market, Multiple Dwelling, Reception Centre, Recreation - Private, Residential Building, Serviced Apartment, Service Industry, Service Station, Shop, Single House, Small Bar, Telecommunications Infrastructure, Veterinary Centre. For grouped or multiple dwellings development, the designated density under the East Victora Park Precinct 12, is R30. Information Memorandum is available upon request. Please contact James via the email option for a prompt response. Location Features: - Surrounding population of 36,889 ppl - Bus stops directly fronting the properties - 1km to Curtin University - 1km the Vic Park Precinct - 2km to Waterford Plaza - 3km to Swan River - 4km to Crown Perth and Optus Stadium - 5km to Perth CBD - 7km to Perth Airport

Seller's review

5 months ago

Acute Commercial Acumen

Acute Commercial Acumen . We had quite unique commercial property to sell, and after various attempts at selling this investment property with other commercial agents, we turned to James and MGP Property. James recommended a different approach to the sales marketing campaign which had not been suggested to us previously. He displayed a high-level understanding of how investors would view the asset and was able to address this via the sales and marketing campaign as well as provide detailed projections to further assist investors in their decision making. What was truly different, was his ability to speak to investors not as an agent, but as an investment analyst with deep industry knowledge and was always backed with data and information to support his views and suggestions. James got the job done, just as he said he would. There is no doubt the man backs up what he says, and he does not mince his words. Highly recommended agent.

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