29 King Drive
Wannanup, WA 6210

Overview

Prime Development Opportunity with Immediate Rental Income

This property at 29 King Drive, Wannanup, presents a prime development opportunity combined with immediate rental income, making it an attractive investment for those seeking both stability and future growth potential.

Situated on a substantial 1,497 square meter block zoned R20, the site offers significant flexibility. Prospective buyers have the option to subdivide the land, subject to council and planning approvals, retain the existing residence, and develop two additional homes at the rear. This makes the property ideal for land banking or value-adding projects.

The current dwelling is well-maintained by long-term tenants, providing a secure rental income stream with a lease in place until November 2026. This arrangement offers investors immediate returns while planning for future subdivision or development.

The home itself is generously sized and thoughtfully designed, featuring three bedrooms and one bathroom. The main living area is expansive with high ceilings, creating a spacious and comfortable environment. The kitchen is functional and equipped with a gas cooktop, catering to everyday cooking needs. Additionally, there is a secondary living space currently used as a fourth bedroom, adding versatility to the floor plan. All three bedrooms include built-in robes for ample storage.

Additional features enhance the property's appeal, including a wood fireplace in the main living area and a second fireplace in the rear living zone, currently in as-is condition. The property is connected to the NBN network, ensuring modern communication capabilities. A garden shed provides extra storage, and there is ample parking space suitable for a boat, caravan, or trailer.

Location is a key advantage, with the property positioned just moments from the Estuary, Port Bouvard Marina, boat ramp, local shops, and dining options. Wannanup is a sought-after coastal area with strong growth prospects, making this property a valuable asset for investors and developers alike.

Whether your goal is to land bank, develop, or secure a reliable income-producing asset, this property offers a versatile and promising opportunity. Interested parties are encouraged to act promptly to take advantage of this unique offering.

Note: All information provided is to assist in marketing and is believed to be accurate; however, prospective buyers should conduct their own due diligence to verify details.

Location