97 Gladstone Road, Rivervale
814 SQUARE METRE MULIPLE DWELLING SITE House - Property ID: 829578
Professionals Victoria Park is proud to offer for sale on behalf of The Housing Authority, this 814 square metre regular shaped site improved with 2 brick and tile residences each comprising of 2 bedrooms and 1 bathroom.
AUCTION DATE IS 5TH DECEMBER 1PM ON SITE. $10,000 DEPOSIT PAID AT THE FALL OF THE HAMMER AND THE BALANCE IN 45 DAYS AFTER THIS.
REDEVELOP NOW, REFURBISH RENT OUT AND REDEVELOP LATER OR REFURBISH LIVE IN ONE AND RENT THE OTHER AND REDEVELOP LATER.
The land is zoned Residential Development R20/40 under the City of Belmont's Town Planning Scheme which makes the property suitable for redevelopment with new apartments or a combination of villas and/or two story townhouses. The two existing residences do require work in order to make the homes habitable, however they are solid brick and tile dwellings with good 'bones' and so the property also offers the unique opportunity of two income streams for the investor who is considering redevelopment later on in the future.
The property is located on the Perth City side of Fransisco Street in walking distance to the Swan River, the future Burswood Sport Stadium and surrounding infrastructure. History shows massive infrastructure changes have a positive influence on property values in surrounding suburbs. Shopping facilities are also situated close by and they include Kooyong Village Neighbourhood Shops just around the corner and the Belmont Regional Shopping Centre.
So the options are plentiful here. Redevelop today with apartments or townhouse/villas or refurbish the existing residences, rent them out or live in one, rent the other and redevelop at some future stage.