190 Riseley Street, Booragoon WA 6154

Huge opportunity here. 809m2, (20.2m frontage), zoned r40, making it a 3 unit site by my calculation subject to jumping though the usual hoops, with the appropriate authorities.
The house has 5 bedrooms, 2 bathrooms, separated as, the original 3 Bedroom 1 Bathroom House, and a 2 bedroom flat. Currently rented at $460pw, giving you an income while you get busy with the necessary approvals.
Development around this area is moving ahead, and why wouldn't it with just about everything close by, and if it's not, there's a bus that can take you there.