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174 Piesse Street, Boulder WA 6432

$449,000

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$400k - $500k High Confidence Calculated based on strong search observations.

House 3 Beds 1 Bath 1 Car 688 m²

Listed: 33 days ago

Updated: 4 hours ago

Overview

This intriguing investment opportunity at 174 Piesse Street, Boulder, showcases a unique combination of consistent rental incomes and a spacious, well-located property footprint. Offering two separate income streams from a character-style main residence and a rear studio, the property is well positioned to appeal to investors who value immediate and strong rental yields.

The primary residence encapsulates classic architectural charm with its fibro and iron construction. It houses three bedrooms and one bathroom, a layout that is practical and easily manageable while catering to long-term tenants. At the rear, a separate studio provides an additional one-bedroom, one-bathroom self-contained living space, enhancing the property's overall earning potential.

Strategically, the property delivers a combined rental income of $805 per week, translating to approximately a 9.3% gross rental yield based on the current asking price of $449,000. Both dwellings attract established tenants with secure leases running well into 2027, ensuring predictable cash flow with limited interruption.

Set on a generous 688 square metre block, the land is fully fenced and complemented by practical features such as evaporative cooling for climate comfort and a secure parking space. Additionally, the inclusion of an outdoor entertainment area and a shed introduces lifestyle and storage benefits that enhance the appeal for tenants and owners alike.

Solid investment with existing tenancy until April and September 2027
Separate accommodation units improving flexibility and income diversification
No strata fees applies, reducing ongoing costs
Located in a stable community, marketable to a range of renters
As-Is sale, encouraging motivated sellers and potentially swift transaction

Potential buyers should carefully investigate the council approvals regarding the rear studio to understand its permitted uses fully. This transparent note underlines the property’s as-is sale condition, offering scope for independent assessment and negotiation.

In summary, 174 Piesse Street offers a dual-income setup that efficiently leverages its site and structures. It is particularly suited to investors keen on securing reliable income streams without significant maintenance or refurbishment commitments.

Local Market Insights

In Boulder, Quiet Listings observed 13 new houses entering the market over the last 30 days, up from 5 during the previous 30-day period, with an average advertised asking price of $523,000. The property type mix of listed properties is predominantly Houses at 72%, followed by units (11%), and land (6%). The most active agency for houses in the Boulder area is currently Elite Choice Real Estate, representing 38% of new listings, followed by John Matthew & Sons with 38%. These insights are based on agencies currently monitored by Quiet Listings and are updated as the local market changes.

While every effort is made to ensure the accuracy and completeness of the property information provided, no guarantee is given. Buyers should independently verify all details, inclusions, availability, pricing, and other relevant information directly with the listing agent before relying on this information.