From its outstanding site on the side of Mt Melville and less than 1km from Albany's CBD, this substantial property takes in expansive views over Princess Royal Harbour and the port to Mt Clarence, Frenchman Bay and the coastal hills of Torndirrup National Park.
It consists of a double-storey building of two residential units on a subdividable block of 1287sqm, making this valuable package a serious consideration for rental investors appreciating the benefit of two incomes, or far-sighted developers recognising the potentially lucrative options a property of this size – and in this top location – presents.
While the property would make a solid land bank for the future, the brick and tile structure also offers the prospects of conversion to an amazing home for discerning owner-occupiers looking to take advantage of the spectacular views.
Those choosing to subdivide could build a new home on the elevated front section, where the outlook is even more impressive, or sell one part and capitalise.
Currently, it attracts good rental returns from the two units.
Both have been well maintained and each has a comfortable lounge, kitchen/meals area, bathroom with bath, shower and vanity, and a separate toilet.
Unit 1 on the first floor has three bedrooms and a balcony off the lounge. Unit 2 downstairs has two bedrooms and access to a paved outdoor area.
Occupants share a laundry at ground level and there's a freestanding brick garage with a powered workshop and storage space, as well as ample parking and turning space at the front. Terraced gardens are mostly in native vegetation for character and low maintenance, though there's ample scope for planting gardens and growing vegetables.
In a quiet cul-de-sac end of a prestigious street, the property is within walking distance of shops, restaurants and all the amenities of the city centre, adding to its appeal for those who value the city vibe as much as the water views.
What you need to know:
- Solid investment with development potential
- Two-storey brick and tile building
- Two residential units currently leased
- 1287sqm subdividable block
- Expansive views over Princess Royal Harbour to Mt Clarence, Frenchman Bay and Torndirrup
- 1km from Albany town centre
- Zoned Residential R30
- Could be converted to one two-storey home
- Option to subdivide land and capitalise
- Space for new home on elevated front section
- Well-maintained units attracting good rental returns
- Both units with lounge, kitchen/meals, bathroom, toilet
- Unit 1 has three bedrooms and balcony
- Unit 2 has two bedrooms and paved outdoor area
- Shared laundry and garage-workshop
- Plenty of off-road parking and turning space
- Cul-de-sac end of road
- Walk to shops, restaurants, city amenities
- Council rates $3,578.74
- Water rates $2,926.30
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