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This 809sqm block in a key growth area of the ever expanding City of Stirling is going to be snapped up by a clever investor who wants to reap the rental return on the three bedroom house now and then take advantage of the potential rise in value when the precinct redevelopment starts.
Osborne Place is close to the hospital, shops, doctors and the freeway entry and zoned 'development' under the City of Stirling Northern Precinct Local Development Plan which aims to increase housing density while maintaining amenity in this fast growing residential area. This means this block (Sub Precinct Area B - Residential) can be developed into three levels of apartments (STCA).
The plan was adopted by the Council in February 2019 and 51 Osborne Place offers you the ideal opportunity to invest in and later capitalise on, the very lucrative West Australian real estate market.
The home at 51 Osborne Place is a three bedroom, one bathroom home with a single-car lockable garage and generates $325 per week rental return with potential for more in the current rental market, where demand convincingly outstrips supply. It is situated to the rear of the big block and is a single level brick and tile circa 1960s home. The reliable long term tenant is very happy to stay beyond the lease expiry in March 2022.
Features
809 sqm lot
Three bedroom, one bathroom home built 1965.
Rental return $325 per week
Currently tenanted to March 2022
Future investment return potential as part of the Stirling redevelopment
Location
300m Osborne Park Hospital
770m Stirling Train Station
3.9 km to Karrinyup Shopping Centre
6.1 km to Scarborough Beach
11.5 km to Perth CBD
Land Area | 809 sqm
Zoning | Development (Sub Precinct Area B - Residential)
Outgoings
Council (City of Stirling) | $TBC
Water Corporation | $1,121.95 pa
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