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187 Ravenswood Drive, Westminster WA 6061

$888,000

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$888k - $932k Transparent Transparent Listing Based on an openly advertised listing price.

House 3 Beds 1 Bath 1 Car 720 m² 132 m²

Listed: 6 days ago

Updated: 4 hours ago

Overview

This property presents a significant prospect for developers, investors, and buyers seeking a valuable piece of Westminster real estate. The generous 720 square meter land provides ample space for a potential three-unit development, a feature enhanced by the R40 zoning which promises versatile options subject to council approvals.

The existing dwelling, a modest three-bedroom, one-bathroom home with a single garage, offers an immediate income opportunity or a base for renovation. Its building footprint of 132 square meters allows prospective owners to maintain the property while considering redevelopment.

Situated in a well-established, convenient pocket of Westminster, the location adds considerable appeal. With proximity to local schools, shopping centers, parks, public transport, and major transport routes, it supports a lifestyle balancing accessibility with community comforts. This advantageous location benefits future residents, tenants, or developers aiming for long-term value.

The property's flexibility in use makes it suitable for a range of interested parties. Seasoned developers can capitalize on the development potential; investors may find attractive future upside; and owner-occupiers or renovators will appreciate the generous block with redevelopment options.

Generous 720sqm block with R40 zoning
Potential for three-unit development (subject to approvals)
Existing functional three-bedroom home with one bathroom and garage
Convenient location near essential amenities and transport
Opportunity for rental income or personal renovation

Buyers should undertake their own due diligence regarding approvals associated with development and subdivision to unlock the full potential of this rare opportunity in Westminster.

Local Market Insights

In Westminster, Quiet Listings observed 40 new houses entering the market over the last 30 days, up from 37 during the previous 30-day period, with an average advertised asking price of $792,625. The property type mix of listed properties is predominantly Houses at 73%, followed by villas (14%), and units (5%). The most active agency for houses in the Westminster area is currently The Agency, representing 33% of new listings. 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.