Sold
East Victoria Park WA 6101
Sold price: $2,600,000
Sold: 20 Jun 2024
Sold
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14 Bedrooms
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2 Bathrooms
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Landsize 706m2
House
Redevelopment opportunity with strong income...
For sale via Expressions of Interest.
Opportunity awaits with this unique offering of this Green Title property on 706sqm of land area, in the thriving suburb of East Victoria Park, providing strong income while offering various opportunities for redevelopment in a sought-after hub within 5kms of the Perth CBD.
Current gross income is circa $330,000pa.
Net Income Circa $215,000pa
Provides a NET YIELD of around 8.0%
The property includes…
- 706sqm site area
- Currently operating as short-term accommodation
- 14 rooms across 2.5 floors
- Mix of single and double rooms
- 100% occupancy
63 Etwell Street has been consistently in high demand from students with proximity to public transport routes, Curtin University, the Vic Park precinct, and the Perth CBD. The premises include a common lounge, dining, kitchen, bathroom and laundry facilities. Secure car parks are also located at the property.
Zoned Local Centre, these three properties have a plethora of uses available to them including…
Permitted Uses:
Child Care Premises, Consulting Rooms, Educational Establishment, Fast Food Outlet, Home Office, Liquor Store-Small, Lunch Bar, Office, Place of Worship, Restaurant/Café.
Discretionary Uses:
Amusement Parlour, Art Gallery, Betting Agency, Car Park, Civic Use, Commercial Vehicle Parking, Community Purpose, Convenience Store, Exhibition Centre, Grouped Dwelling, Home Business, Home Occupation, Home Store, Hospital, Market, Multiple Dwelling, Reception Centre, Recreation - Private, Residential Building, Serviced Apartment, Service Industry, Service Station, Shop, Single House, Small Bar, Telecommunications Infrastructure, Veterinary Centre.
For grouped or multiple dwellings development, the designated density under the East Victora Park Precinct 12, is R30.
Information Memorandum is available upon request. Please contact James via the email option for a prompt response.
Location Features:
- Surrounding population of 36,889 ppl
- Bus stops directly fronting the properties
- 1km to Curtin University
- 1km the Vic Park Precinct
- 2km to Waterford Plaza
- 3km to Swan River
- 4km to Crown Perth and Optus Stadium
- 5km to Perth CBD
- 7km to Perth Airport
Property snapshot by reiwa.com
This East Victoria Park property is a fourteen bedroom, two bathroom house sold by James Priestly at MGP Property on 20 Jun 2024.
Looking to buy a similar property in the area? View other fourteen bedroom properties for sale in East Victoria Park or see other recently sold properties in East Victoria Park.
East Victoria Park overview
Established in 1885, East Victoria Park is a predominantly residential suburb with a commercial and entertainment strip along Albany Highway. Significant development of the area did not begin until the 1960s and 1970s with gradual increases experienced during the 1990s as new homes and businesses were added to the area.
Life in East Victoria Park
Though predominantly a residential area, the commercial and entertaining strip along Albany Highway provides a bustling urban environment for residents and visitors alike. With restaurants to satisfy any palate, as well as old-fashioned pubs and hip bars, this lively strip is active any time of day. Also within East Victoria Park are recreational facilities like Aqualife Centre and Leisure Life Centre, Park Centre, which is a shopping complex, and several schools.
East Victoria Park quick stats
High end
$1.2m
Median
$935k
Low end
$748k
20.6 %
Annual growth
$935k
Annual median sales price
$660pw
Annual median rental price
