60 Oswald Street, Innaloo

Description Rare 1,253sqm Development Site with Dual-Key Income Potential Welcome home to an exceptionally rare Innaloo opportunity combining immediate holding income, flexible dual-key living and outstanding long-term development potential on a substantial 1,253 square metre landholding. Originally built in 1969, this two-storey residence offers approximately 150 square metres of internal living and is configured as a five-bedroom, one-bathroom home upstairs, with a separate three-bedroom, one-bathroom layout downstairs. Offering scale, flexibility and future upside, the property presents a truly unique proposition for developers, investors, land bankers, extended families or buyers seeking a large site in one of Perth’s most connected inner-northern suburbs. The existing home provides multiple living options, with the upstairs level currently vacant and ready for occupation, leasing or renovation, while the downstairs area is currently tenanted to long-term tenants at $200 per week on a periodic basis. The dual-level configuration allows for excellent separation between the two areas of the home, creating potential for dual-key living, extended family use or double rental income. The upstairs residence includes five bedrooms, a spacious living area, functional kitchen, bathroom and access to the elevated balcony area, while the lower level offers its own separate accommodation and outdoor connection. Set on a huge block with generous rear yard space, wide external areas, separate access potential and excellent site dimensions, the property is especially appealing for those focused on future development. Located within the Southern Precinct Local Development Plan – Sub Precinct Area F, also known as the Oswald and Ellen area, the site offers extremely strong development potential, with scope that may include multiple dwellings or a small-scale apartment style development, subject to all relevant approvals and buyer due diligence. With the upstairs residence vacant and the downstairs residence already producing income, this property gives buyers the opportunity to lease, occupy, renovate, hold or explore redevelopment options in a high-demand location close to shopping, transport, beaches, freeway access and major lifestyle amenities. Property Highlights: – Two-storey residence on a substantial development-sized landholding – Original 1969 build – Approximate land size: 1,253 square metres – Approximate internal floorspace: 150 square metres – Upstairs configuration: five bedrooms, one bathroom – Downstairs configuration: three bedrooms, one bathroom – Upstairs currently vacant – Downstairs currently tenanted to long-term tenants at $200 per week on a periodic basis – Potential dual-key living arrangement – Opportunity for double rental income – Separate access potential between upstairs and downstairs areas – Spacious upstairs living area with character features – Functional kitchen with ample bench space and dishwasher – Split-system air-conditioning – Timber flooring to bedrooms – Large balcony and elevated outlook – Generous rear yard with paved and grassed areas – Garage/storage area underneath – Excellent holding income while planning future use – Rare large landholding in central Innaloo Investor Summary: – Upstairs: vacant and ready to lease, occupy or renovate – Downstairs: tenanted to long-term tenants at $200 per week on a periodic basis – Potential market rent for downstairs estimated at approximately $500 per week – Opportunity to create dual rental income from one property – Strong appeal to tenants seeking flexible accommodation close to shops, transport and employment hubs – Large 1,253 square metre site provides excellent land banking appeal – Future development upside, subject to council approval and buyer due diligence Development Summary: – Located within the Southern Precinct Local Development Plan – Sub Precinct Area F, Oswald and Ellen – Council may encourage the development of at least four dwellings on the site, subject to formal approval – Council may also support a small-scale apartment site of two storeys or more, subject to planning requirements – Exceptional land size and location for developers, builders and long-term investors – Buyers are encouraged to make their own enquiries with the City of Stirling and relevant planning authorities Location Summary: – Positioned in a highly connected Innaloo location – Convenient access to Westfield Innaloo and local shopping options – Close to cafés, restaurants, schools, parks and public transport – Easy connectivity to Stirling Station and freeway access – Short drive to Scarborough Beach and coastal lifestyle attractions – Close to Karrinyup Shopping Centre, Osborne Park and major employment hubs – Surrounded by established homes, redevelopment activity and quality local amenities Why you will love it! Whether you are searching for a high-upside development site, a dual-income investment, a land banking opportunity or a flexible property with serious future potential, 60 Oswald Street delivers scale, income, location and opportunity in one of Innaloo’s most exciting growth pockets. Make an enquiry today to arrange your inspection.