Calling all investors. There is genuine value on offer with the sale of this large parcel of residential R15/25 land which the council explains is a retain and build 4 unit site. Also, the next door neighbor is open to discussions about offering part of her land to make it a potential 5 unit site.
The WAPC have forecast the population in the City of Armadale to increase from the current 78,766 in 2015 to 138,127 by 2031 and with this property being only approx 1,000 meters to the train station, shops, movies, restaurants etc. the value can only go up over time. This is certainly a solid investment for either land banking and developing in a few years, or developing straight away. They say when you buy an investment to always buy as close to land value as possible, because the land increases in value while the house only depreciates. Well this is as close to land value that you can get!
At 1530sqm, this block is one of the last remaining 1,500+ blocks within a 1,000 meter radius of the center of Armadale that hasn't already been developed, with most blocks being smaller and only 2 to 3 unit sites. Another bonus is that even though deep sewer is connected, there are no easements on the title allowing full use of the land for development.
Quietly tucked away down a quiet street the cottage style home is currently tenanted with the tenants paying $350 per week. They have lived there happily for many years and are happy to stay. Alternatively they can move out at the expiration of the lease of required.
There is a also a huge avocado tree full of fruit, as well as some grapes and established orange trees.
For more information about this rare property please contact Tim Verbunt.
