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274 West Coast Highway, SCARBOROUGH, WA 6019

2. Property Highlights

Blue chip coastal development site with fantastic rental return!

Set Date Sale: Absolutely all offers by 12.00pm Wed 8th Mar 2023

*Contact Nathan for buyer feedback range*

This one-of-a-kind coastal opportunity is perfect for the astute investor as properties like this simply will never exist again!

Located on West Coast Highway a short 100m walk to the sands of Scarborough Beach sits this group of units all on one title. The property is comprised of 6 separate units, each one an attractive rental income producing home. There are 5 apartments and one 2 storey town house at the rear, all positioned on an large 1,353sqm land holding!

What are your options?

1 – Purchase this unique parcel as a long hold investment and rent out each of the homes knowing that land like this will only become more and more in scarce.

2 – Live in the rear 4 bedroom 2 bathroom 2 storey townhouse and everyday take in the incredible ocean views and lifestyle that comes with living in the heart of this amazing suburb. While benefiting from the rental income being produced by the other 5 apartments.

3 – The most advantageous opportunity is to create a Multi-Storey Residential Development with sensational views, overlooking our prized world class Scarborough Beach.

Located within the “Gateway East” precinct of the redevelopment area this 1,353sqm parcel meets the current guidelines for the potential approval of a 4 storey development and consideration upon application for an additional 2 storeys. (*all subject to full approvals by relative authorities)

What to know:

Approximate rental return previous 12 months = $131,560pa (scope for higher return, speak to agent for info)

Unit 1 – 2 x 1 with courtyard bottom floor – tenanted

Unit 2 – 1 x 1 with balcony only,

second floor unit – tenanted

Unit 3 – 2 x 1 with court yard & additional parking – tenanted

Unit 4 – 2 x 1 with court yard, bottom floor – tenanted

Unit 5 – 1 x 1 with balcony only,

second floor unit – tenanted

Unit 6

- 4 x 2 with extensive views, court yard and large balcony, sole use of the double shed to the rear, also has a 2nd kitchen so could easily have 2 couples sharing with lots of separation – vacant

All units share a laundry with a commercial washer apart from Unit 6 (which has its own small built-in laundry nook)

The property also features 3 separate garages and plenty of parking for extras cars/visitors

Capitalize on the biggest transformation this iconic precinct has seen in more than 30 years!

The recently completed $100 million redevelopment has brought this historic lifestyle location back to life.

Remember to mention you found this property on DevelopmentReady

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3. Property Location

274 West Coast Highway, SCARBOROUGH, WA 6019

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4. Due Diligence

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274 West Coast Highway, SCARBOROUGH, WA 6019 Scarborough