1 Grinstead Way, Balga WA 6061

Renovated Corner Gem with Development Potential & Instant Rental Return

Positioned on a substantial 802sqm corner block, 1 Grinstead Way, Balga presents an outstanding opportunity for home buyers, investors and developers alike. Fully renovated approximately two and a half years ago, the home combines generous internal living, immediate rental income and exciting future development potential.

Inside, you'll find four genuinely spacious bedrooms, all finished with durable carpeting and offering plenty of room for the whole family. The renovated kitchen features stone benchtops, ample cabinetry and overhead cupboards, flowing through to a separate dining area.

One of the standout features is the exceptionally large and elongated living area, enhanced by a striking coffered-style feature ceiling with recessed lighting, adding character and a wonderful sense of space.

The renovation continues through the bathroom and laundry, with both presenting beautifully. The updated laundry also features a stone benchtop, along with excellent storage and practicality.

Outside, there is plenty of room for vehicles, complemented by a large workshop/garage providing secure lock-up parking and additional storage space.

What really sets this property apart is the land. Sitting on approximately 802sqm on a prominent corner, the property offers potential for a three-lot development, subject to the relevant approvals. Alternatively, buyers may explore the option of retaining the existing renovated home and developing an approximately 315sqm portion to the side/rear with its own street-front access. This creates an exciting opportunity to retain a substantial existing asset while potentially unlocking further value from the land.

For investors, the property is already producing an instant rental return, currently leased at $715 per week until November. The existing tenants have also indicated they would like to remain at the property beyond the current lease, providing an attractive opportunity for an investor looking for income from day one.

With a renovated four-bedroom home, $715-per-week rental income, substantial corner landholding, large workshop and multiple future development options, 1 Grinstead Way offers that increasingly difficult combination of immediate return, comfortable living and long-term development potential.

Disclaimer:
This information is provided for general information purposes only and is based on information provided by the Seller and may be subject to change. No warranty or representation is made as to its accuracy and interested parties should place no reliance on it and should make their own independent inquiries.