42 Campbell Street, Rivervale
1931 SQM SITE, 90 METRE STREET FRONT AND 4 HOUSES, 3 STREET FRONTAGES House - Property ID: 829579
Professionals Victoria Park is proud to offer for sale on behalf of The Housing Authority, this rectangular shaped block of 1,931 square metres improved with 4 brick and tile residences each comprising of 3 bedrooms and 1 bathroom.
AUCTION DATE IS 5TH DECEMBER 2PM ON SITE. $10,000 DEPOSIT PAID AT THE FALL OF THE HAMMER AND THE BALANCE IN 45 DAYS AFTER THIS.
WHICH WOULD BE YOUR PREFERRED PICK: SUBDIVIDING WITH UP TO POTENTIALLY 6 NEW BLOCKS OF LAND OR SUBDIVIDING INTO 4 HOMES?
The land is zoned Residential Development R20 under the City of Belmont's Town Planning Scheme and being a corner block there is a density bonus to R30 which makes the property suitable for redevelopment with up to 6 vacant blocks of land.The four 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 four income streams for the investor or for the developer who would prefer to take up the option of refurbishing each dwelling and subdividing into 4 lots with a dwelling on each lot. Overall the shape of this block makes it one of a kind this is for sure because where else can you find a site of this size and shape so close to the Perth City Centre? The street frontage to Campbell Street is effectively 90.5 metres when you include the corner truncations to Fitzroy and Armadale Roads and the width is 21.3 metres at both ends. The property stretches out along Campbell Street from Armadale Road all the way to Fitzroy Road so it offers 3 street frontages.
The property is located close to Fransisco Street and the future Burswood Sport Stadium and surrounding infrastructure are only one suburb away. 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 what your pick be? Create up to 6 new lots or refurbish the four existing homes and create 4 new lots where each residence features it's own street frontage onto Campbell Street?