84 Ferguson Street

Midland WA 6056

Welcome to a brilliant opportunity to own a massive land parcel in the heart of Midland. A truly exciting property - this one is certainly more than meets the eye to both an investor and live-in renovator purchaser! 84 Ferguson Street is placed on a 1012 square metre (20m frontage) R20/35 zoned block with an exciting 94 square metre four bedroom home, built originally in 1946. A charming home that oozes opportunity - a massive mostly-level block, ceiling fans throughout, multiple living spaces, long-term rental income, vibrant colours inside, front porch, pool that would love a helping hand, timber accented kitchen, large outdoor patio structure, centrally located laundry and bathroom, classic brick foundation and design elements. This property is coupled with its neighbour 86 Ferguson Street for a combined site of 2024 square metres R20/35. Will you retain and improve this primed canvas into your renovated dream home? Will you continue to lease out the home (currently leased to a long term historic tenant at $300 per week)?Will you demolish and build up to 8 units on the combined 2024m2 site of 84 & 86 Ferguson Street (subject to all relevant approvals)?Will you hold until you are the last quarter acre block left in Perth - who knows what this massive land parcel would be worth by then!Property Highlights:- Four-bedroom, one-bathroom home originally built in 1946- Massive block of 1012 square metres, zoned R20/35- Approximate internal living space of 94 square metres- Ceiling fans throughout bedrooms- Built in robes- Multiple water and power connections at the rear of the property- Plenty of parking on extra wide concrete driveway at front of home- Long term reliable tenant paying $300 per week- 20m of street frontageInvestor Summary:- This property is currently leased on a month-to month lease at $300 per week - Estimated market rent for 84 Ferguson is approximately $400 per week- Given a purchase price of $450,000 and market rent, the estimate rental yield for this property is 4.63%- HouseSmart Real Estate is highly active in Midland and the surrounding areas, and can provide high-quality property management services throughout the course of the tenancy and beyond.- The property is placed on 1012 square metres of R20/35 zoning resulting in approximately 4 lots being able to be built per site if approval for accessing the R35 zoning is granted. Purchasing 84 & 86 Ferguson would result in a potential 8 unit site development at R20/35 zoning.- Incredible land parcel purchase opportunity.Why buy?This property combines a central location, long term tenant with immediate rental income, and a fantastic land parcel with good zoning. Rare to see on its own and incredibly rare to see with also ability to purchase the neighbouring property too!Speak to our team today. As always, buyers are encouraged to do their own due diligence and research before purchasing any property, as the details listed are not a warranty or representation of any kind, purely a best-intended description. Feel free to ask our team any questions! We look forward to assisting.