Description
The phone enquiry code for this proeprty is - 5727
The property is located in a quiet street about 20km south-east of Perth CBD, a short distance from the entrance to Tonkin Highway and Albany Highway. The property is about 90m directly away from Seaforth Train Station and the rail track, with a few other properties situated in between. These properties reduce the impact of noise to the property. The council has accepted in a 2017 development application that road and rail generated noise at the property is below the acceptable noise target level and no noise mitigation requirement needed to be imposed for redevelopment. Yet despite the lack of noise, the station is less than a minute walk from the property. In addition, the bus-stops situated next to the station are served by bus services 220, 221, 651 and 907 that can take one anywhere between the busport in the city and Armadale Station.
A short 10 to 15 minutes' walk (about 1 to 1.2 km) or one train stop away, brings you to one of the busiest commercial belts; McDonald, Hungry Jack, Subway, Domino, Red Rooster, Coles, IGA, Chemist Warehouse, restaurants, sea food market, banks, post shop and many others. It is sufficiently nearby to commute, yet adequately far away from the ills normally associated with been in close proximity to such social establishments.
Development Potential*
The property currently has a residential zoning of R20/40. The council has endorsed the Local Planning Scheme 24 (LPS 24) which is expected to be finalised by the WAPC by March 2024 (see Gosnells website).
Under LPS 24, a small section around the train station, inclusive of 9 Eileen is rezoned to R60/80. This category allows buildings up to 4 storeys. This opens a whole new perspective in development potential and return on investment.
A development application (DA) based on the current R20/40 zoning, and included detailed designs and impact studies for 6 units of 3 bedrooms/2 bath apartments, was approved by the council in 2017. While the 2 years validity period had lapsed, it may be resubmitted, as is, for reassessment and revalidation. Do note that the council is the authority to revalidation and potential buyer must do their own due diligence. All design documents, Contour Survey, Site Classification, Drainage Management, Geotech and Noise Impact reports are available free of charge and copyright free to the buyer of the property. These documents have a value of at least $30K. The 6 new apartment units have a potential combined rental income of at least $3300/week or $171K/year, representing a ROI of greater than 10% pa.
The re-zoning to R60/80 would allow even greater development potential.
*Potential buyers must not rely solely on the represented information here and must conduct their own investigations.
Current Situation
The existing house is a DIY renovator’s dream. The structure is sound. The roof is beautiful. Start by taking a look using Google Streetview. A 5-course brick wall lines the boundary of the property. A majestic palm marks the entrance to the property. The entire frontage is lined with a clever selection of different landscaping trees and shrubs (3-4m depth) to give it a sanctuary feel. Take a look at the satellite image. Mature palm trees line the property boundaries. A huge alfresco with a concrete BBQ place and a paved enclosure for a picnic table under the clear blue sky or stars. All these overlook a lawn with soft grass. Moving inside the house. The ceilings are in great condition. So, what is there to do? While currently the fixtures are functional, they obviously came from an era of yesteryears. The floors also look a little worn. To renovate, no heavy lifting needed. Change the lights, switches and toilet pan/cistern. Remove the 4-5 sqm of kitchen and laundry flooring and pour a coat of epoxy resin in its place. Repair and repaint the laminate floor. A hands-on person, after viewing a few related Youtube instructional videos should be able to do these easily. If these works are a deal breaker, the seller is happy to undertake them before handing over, of course for a small fee.
Nevertheless, as it is, it is habitable and rentable. It should still return approximately $420-$450 per week of rental income or about gross 3.5% ROI at the asking price of $650K.
However, the value of this property goes way beyond buying and keeping it in its current state. The hidden treasure is its development potential, its location – the reason for the coming rezoning to R60/80. This zone will ensure you make a good profit when doing redevelopment, not those with R20 or R30 zoning. Come for a chat and I will do the sums for you.
The seller would have undertaken the redevelopment, but a medical episode changed plans.
The property is located in a quiet street about 20km south-east of Perth CBD, a short distance from the entrance to Tonkin Highway and Albany Highway. The property is about 90m directly away from Seaforth Train Station and the rail track, with a few other properties situated in between. These properties reduce the impact of noise to the property. The council has accepted in a 2017 development application that road and rail generated noise at the property is below the acceptable noise target level and no noise mitigation requirement needed to be imposed for redevelopment. Yet despite the lack of noise, the station is less than a minute walk from the property. In addition, the bus-stops situated next to the station are served by bus services 220, 221, 651 and 907 that can take one anywhere between the busport in the city and Armadale Station.
A short 10 to 15 minutes' walk (about 1 to 1.2 km) or one train stop away, brings you to one of the busiest commercial belts; McDonald, Hungry Jack, Subway, Domino, Red Rooster, Coles, IGA, Chemist Warehouse, restaurants, sea food market, banks, post shop and many others. It is sufficiently nearby to commute, yet adequately far away from the ills normally associated with been in close proximity to such social establishments.
Development Potential*
The property currently has a residential zoning of R20/40. The council has endorsed the Local Planning Scheme 24 (LPS 24) which is expected to be finalised by the WAPC by March 2024 (see Gosnells website).
Under LPS 24, a small section around the train station, inclusive of 9 Eileen is rezoned to R60/80. This category allows buildings up to 4 storeys. This opens a whole new perspective in development potential and return on investment.
A development application (DA) based on the current R20/40 zoning, and included detailed designs and impact studies for 6 units of 3 bedrooms/2 bath apartments, was approved by the council in 2017. While the 2 years validity period had lapsed, it may be resubmitted, as is, for reassessment and revalidation. Do note that the council is the authority to revalidation and potential buyer must do their own due diligence. All design documents, Contour Survey, Site Classification, Drainage Management, Geotech and Noise Impact reports are available free of charge and copyright free to the buyer of the property. These documents have a value of at least $30K. The 6 new apartment units have a potential combined rental income of at least $3300/week or $171K/year, representing a ROI of greater than 10% pa.
The re-zoning to R60/80 would allow even greater development potential.
*Potential buyers must not rely solely on the represented information here and must conduct their own investigations.
Current Situation
The existing house is a DIY renovator’s dream. The structure is sound. The roof is beautiful. Start by taking a look using Google Streetview. A 5-course brick wall lines the boundary of the property. A majestic palm marks the entrance to the property. The entire frontage is lined with a clever selection of different landscaping trees and shrubs (3-4m depth) to give it a sanctuary feel. Take a look at the satellite image. Mature palm trees line the property boundaries. A huge alfresco with a concrete BBQ place and a paved enclosure for a picnic table under the clear blue sky or stars. All these overlook a lawn with soft grass. Moving inside the house. The ceilings are in great condition. So, what is there to do? While currently the fixtures are functional, they obviously came from an era of yesteryears. The floors also look a little worn. To renovate, no heavy lifting needed. Change the lights, switches and toilet pan/cistern. Remove the 4-5 sqm of kitchen and laundry flooring and pour a coat of epoxy resin in its place. Repair and repaint the laminate floor. A hands-on person, after viewing a few related Youtube instructional videos should be able to do these easily. If these works are a deal breaker, the seller is happy to undertake them before handing over, of course for a small fee.
Nevertheless, as it is, it is habitable and rentable. It should still return approximately $420-$450 per week of rental income or about gross 3.5% ROI at the asking price of $650K.
However, the value of this property goes way beyond buying and keeping it in its current state. The hidden treasure is its development potential, its location – the reason for the coming rezoning to R60/80. This zone will ensure you make a good profit when doing redevelopment, not those with R20 or R30 zoning. Come for a chat and I will do the sums for you.
The seller would have undertaken the redevelopment, but a medical episode changed plans.