24 Tetworth Crescent, Nollamara, WA 6061

Welcome to this exciting and ultra-flexible four-bedroom, two-bathroom home with more living space than you know what to do with! There are two kitchens, two front doors, two bathrooms, four bedrooms and multiple living and lounge areas – perfect for multigenerational living, large families, someone with hobbies, or a new owner with an eye for renovation and refurbishment! Think of the large open spaces that could be created here… Built originally in 1977, the home enjoys a spacious 169 square metres of internal living space. Wow! All this on a full sized green title 753 square metre block, zoned R40 means you have a massive amount of development potential, subject to relevant approvals. The property is currently leased at $610 per week on a fixed term lease until October 2024 meaning that its suitable for a patient owner occupier, or an investor looking for rental income from day one!

Property Highlights:

- Four bedroom, two bathroom home built in 1977

- 753 square metre green title block, zoned R40

- Internal living space of approximately 169 square metres

- Roller shutters

- Front concrete porch with elevated house position over the street

- In ground pool at the rear

- Two kitchens – one with gas cooking and the other with electric cooking

- Two front doors

- Multiple lounge rooms/living areas

- Two bathrooms

- Multiple garden sheds

- Ducted evaporative air conditioning, ceiling fans, split cycle air conditioning and classic in-wall AC

- Council rates of approximately $1800 per annum

- Water Rates of approximately $1100 per annum

Investor Summary:

- This property is tenanted on a fixed term basis until October 2024, for $610 p.w.

- Market rent for 24 Tetworth Crescent is approximately $720 per week

- Based on a purchase price of $729,000, this property has an estimated rental yield of 5.15%!

- HouseSmart Real Estate is highly active in Nollamara and the surrounding areas, and can provide high quality property management services from settlement and beyond!

Walking through the home, there are so many different living areas and lounge spaces that could be converted to bedrooms, or opened up into large entertainment areas… the sky is the limit! This brick and tile home is packing all sorts of features including both an electric and gas cooking option (one in each kitchen!), ducted evaporative air conditioning throughout, a split cycle air conditioning unit for heating and cooling, ceiling fans, and a classic in-wall air conditioning unit too.

Stepping outside, there’s an in-ground swimming pool perfect for keeping cool in summer, as well as multiple garden sheds.

The property is placed on a 753m2 block and zoned R40 which requires a minimum average lot size of 220m2. These numbers suggest that this property may have triplex subdivision potential, assuming you demolish the house and are able to achieve the required approvals. Look around the street and suburb for huge amounts of development inspiration from similar (original) blocks. They aren’t making any more full size blocks like this any more…

Nollamara is a suburb popular with both owner occupiers and investors. The suburb has seen a rise of 15.4% rental growth. It has a good connection network with bus stops and close proximity to the Mitchell Freeway going in to the Perth CBD. Schools include Dianella Primary and Dianella Secondary College (both approx. 5 mins walk from the home!) and St. Andrew's Grammar and Dianella Heights Primary School (both approx. less than 10 minutes drive). As for shops, The Square Mirrabooka is around 17 mins walk from the home which has Big W, Coles, Kmart, Woolworths and more! There are also many ovals, parks and reserves surrounding the home.