A rare opportunity in real-estate investment, this unique property boasts not one, but two homes on a single title, offering both immediate rental income and exciting development potential at the very same time.
Zoned R40 and positioned on a coveted 1,188sqm (approx.) corner lot, this exciting development site is a gem in today's market. Corner blocks of this calibre are exceptionally scarce, making this "double delight" all the more enticing.
With two tenants already in place and generating a combined holding income of $4600 per month, you can enjoy steady returns while you navigate the development approval process. One residence is a spacious 4 bedroom 2 bathroom family home with a swimming pool, study and multiple living areas, whilst the other is a practical 3 bed 2 bath abode with plenty of upside.
Only walking distance away at the bottom of the second street frontage lies the sprawling Birralee Reserve, with the excellent Morris Place shopping precinct (and Morris Fresh IGA supermarket) and The Saint George Hotel just a short stroll in the opposite direction. The likes of bus stops, Yuluma Primary School, St Dominic's Primary School, community sporting facilities, the freeway, Stirling Train Station, Westfield Innaloo Shopping Centre, the stunning Karrinyup Shopping Centre revamp, picturesque Lake Gwelup, cafes, restaurants and the new-look Scarborough Beach foreshore are all just a matter of minutes away too, for good measure. An ultra-convenient location beckons, no matter what you decide.
Whether you're an astute investor or a developer seeking your next big project, this prime property provides the perfect blend of possibilities and reaping the rewards. The chance to secure your future has never been better!
ALL OFFERS ACCEPTED BY 5PM ON MONDAY, MARCH 4th 2024
GENERAL FEATURES:
- Massive corner development site
- R40 zoning
- Two homes on one title
- Both tenanted properties
- Holding income of $4,600/per month
- A rare find in today's market
- Reap the rewards while you wait for your development approval
26 MORRIS ROAD:
- 4x2 corner home
- Outdoor patio-entertaining area
- Swimming pool, with a shade sail
- Huge front activity room with a built-in bar and alfresco access
- Front family room
- Study
- Central open-plan living, dining and kitchen area
- Large master-bedroom suite with its own intimate patio - or "parents' retreat"
- Private master-ensuite bathroom with a shower, toilet and twin "his and hers" vanities
- 2nd/3rd/4th bedrooms with built-in robes
- Separate bath and shower in the main family bathroom
- Separate laundry with a linen cupboard and outdoor access for drying
- Internal (off the laundry) and external powder rooms
- Backyard deck
- Two (2) storage/garden sheds
- Cubby house for the kids
- Single carport
26B MORRIS ROAD:
- 3x2 home
- Leafy frontage
- Paved and gated front entertaining courtyard, under the trees
- Welcoming front games room with dual entry-verandah access
- Large carpeted front master-bedroom suite with a WIR
- Private master-ensuite bathroom with a shower, vanity and separate toilet
- Tiled open-plan living, dining and kitchen area with an island breakfast bar
- Carpeted 2nd/3rd bedrooms with BIR's
- Separate bath and shower to the main bathroom
- 3rd bedroom with semi-ensuite access into the main bathroom
- Functional aundry with a separate 2nd toilet
- Linen cupboard
- Ducted air-conditioning
- Security doors
- Gas hot-water system
- External storeroom
- Double lock-up carport
Council Rates - $3,956 per annum
Water Rates - $2,894 per annum
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