Get excited about this property. At 1,074 square metres (approximately) of mostly level prime residential land, this is bigger – much bigger – than the old quarter acre lots that are in such high demand as redevelopment prospects. With the R25 Zoning, it can be developed into three lots, subject to Council and WAPC approvals. That presents a simply superb opportunity to develop less than 900 metres from the proposed Noranda Metronet train station and less than 1800 metres from the proposed Morley Metronet train station. It all points to a positive future for this locality, already highly prized for its liveability by current residents of the neighbourhood.

One clear option is to retain the existing brick and tile residence, which is 3 bedrooms plus a study, 1 bathroom, 2 WCs and 2 living zones. It’s a good size and with a modest renovation budget it could be restored as a very good income-generating rental. There is plenty of driveway access to the rear and a very large home could be built behind if you want to take advantage of the generous lot dimensions to build your future home just the way you want it to be. Sell off the front home or retain it to generate rental income to help with the mortgage. Of course you could also renovate the front home to live in and sell off a subdivided block at the back. So many ways to look at this property but whichever way you look at it, the investment potential shines through. Even hold for the long term as a rental property and reap the benefits of a great land-bank opportunity – who knows what development land like this might fetch in the future?

Located approximately 2.6 kilometres from the regional shopping hub at Morley Galleria, this part of Morley is also well served by nearby primary school and high school options, as well as numerous local shopping centres including the ever-popular Charlie’s Food Market down the road. In terms of transport and accessibility, 9 Paringa Street is walking distance to nearby bus routes and has easy road access to Tonkin Highway, Reid Highway and Morley Drive. Perth Airport and the Swan Valley are within easy reach and the train line will only produce greater transport convenience for future residents at 9 Paringa Street.

Ladies and Gentleman, I’m Gary Angel of House Proud Realty and I am pleased to present to you: 9 Paringa Street, Morley. I look forward to discussing this great property with you sometime soon.

Key Info:

21.3 metre frontage (approx)
City of Bayswater, R25 Zoning
1,074 square metres approximately
Existing home needs some renovation
Perfect driveway access available to the rear
Demolish and develop as triplex
Retain existing home and develop as 2 lots
Mostly good Colorbond fencing

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