Prime R4 High-Density Development Opportunity with High-Yield Income!

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21 Peel Street, Canley Heights NSW 2166

Guide: $2,000,000 - $2,200,000

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$2.2M - $2.31M Transparent Transparent Listing Based on an openly advertised listing price.

House 5 Beds 2 Baths 1 Car 743 m²

Listed: 5 days ago

Updated: yesterday

Overview

Located in the sought-after suburb of Canley Heights, this substantial dual-occupancy property offers an exceptional investment and development opportunity under coveted R4 High Density Residential zoning.

Sitting on a generous 743 sqm parcel with a wide 15.24 meter frontage, the site presents a rare chance to capitalize both on substantial rental income and promising redevelopment potential (subject to council approval). The property comprises a traditional main dwelling featuring three spacious bedrooms alongside a functional kitchen and living/dining area, alongside a self-contained, modern two-bedroom granny flat complete with air-conditioned living space and independent access, enhancing privacy and appeal.

This setup suits investors seeking steady cash flow, developers seeking a prime land-bank site, or land-bankers looking for growth in a high-demand area. The excellent rental return of approximately $1,400 per week across both dwellings underscores the immediate income benefits.

Strategically situated moments from Canley Heights' vibrant shopping precinct, eateries, schools, and public transport options—including nearby train stations—the location further amplifies the property's attractiveness for tenants and future redevelopment projects alike.

Local Market Insights

In Canley Heights, Quiet Listings observed 11 new houses entering the market over the last 30 days, down from 15 during the previous 30-day period, with an average advertised asking price of $1,582,727. The property type mix of listed properties is predominantly Houses at 57%, followed by units (14%), and townhouses (14%). The most active agency for houses in the Canley Heights area is currently Ray White, representing 36% of new listings, followed by GIA Realty with 27%. 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.