40 Merrifield Avenue, Kelmscott WA 6111

Massive 1,821 M2 Block with R15/60 Zoning - Endless Potential Awaits!

Fantastic investment purchase, family home, or renovation project with massive land holding opportunity. Classic full brick 1973 build, huge block spanning ~90 metres in length. Approximately 21 metres of street frontage. Currently R15/60 zoned - meaning that this is a multi-unit site! The home is currently tenanted on a month-to-month lease making it an ideal purchase for an investor seeking rental income, or an owner-occupier looking to move in after settlement! Primely located within walking distance from the train station, shopping centre and high school, this home is full of possibilities. The property also enjoys a large workshop at the rear (around halfway down the block). The property would benefit from some renovation and refreshment, to achieve an excellent rent, or simply demolish and hold the land parcel, or build a series of villas or units on site! The property is looking for a new owner to move in, improve, rent out, develop, or hold as you wish - the possibilities are endless.

Property Highlights:
- Four-bedroom, one-bathroom home originally built in 1973
- Approximate internal floorspace of 126 square metres, classic brick build!
- 1,821 square metres of total land size
- Zoned R15/60
- Powered workshop
- Rear patio/entertainment area
- 21 metre street frontage, 90 metres of lot length.
- The highest currently possible zoning for this property is R40 - meaning that with demolishing the existing house and workshop, you could potentially create a development plan for up to 8 homes, using 220 square metres as the minimum average lot area. Your development plan may vary depending on if you seek to retain the current home, or how you handle the different requirements as stated in the local planning policy.
- All development and subdivision plans must be approved by the relevant bodies such as the City of Armadale and the W.A.P.C, we encourage all buyers to do their own research and due diligence prior to making an offer to purchase.

Investor Summary:
- This property is currently rented on a fixed term basis until October 2023 for $490 per week, from which the property will either be leased on a periodic (month to month) lease, or vacant.
- Market rent for 40 Merrifield Avenue is $500 per week, after some minor refreshments and maintenance.
- Based on a purchase price of $600,000 and market rent, the gross annual rental yield for this property is 4.35%

This home was originally built in 1973 with a brick and tile build, well-spaced living areas, and four comfortable bedrooms. Since then, it has been expanded to include an undercover patio, and powered shed to the backyard. To the side of the home, there is drive-through access to the backyard, so you can easily park a caravan or boat, or work on your car at the back of the property.

Inside the home, the living areas are spacious and light-filled. A ceiling fan provides a nice breeze to the main bedroom. The kitchen is a centrally located highlight, with a C-shaped layout, facing the dining area and looking out from the window out to the backyard. There are plenty of cupboards for storage, and the bench has a breakfast-bar-style for easy serving of meals. There is also a large oven with gas hotplates, a double sink, a dishwasher space, shelving, and glasses cupboards.

To the exterior of the home, you can sit outdoors and enjoy the warm afternoons in the pleasantry of your undercover entertaining patio. The patio is quite large with a paved floor. There is also another undercover area near the workshop, which would be a good place to park some cars, acting as a carport. The workshops is quite large and can fit all your tools and storage items.

This property enjoys a prime position within Kelmscott, being only 6 minutes walk or 1.2km from Kelmscott Train Station, 11 minute walk or 1.6km from Kelmscott Shopping Centre and the surrounding cafe's, food outlets and restaurants, and only 8 minutes walk or 650m from Kelmscott Senior High School.

There is a lot to love about this home, whether you want to secure an immediate rental investment, move in yourself and provide the home some tender loving care, or hold on to the block to develop down the line. Whichever you choose, this property has a great amount of potential for your plans, and is surely not one to be missed out on!