55-57 Kooyong Road

From $550,000 each


Property Features

Property ID: 3276303

Land Size
1432.00 m2


A unique opportunity exists to purchase 2 adjoining development sites in booming Rivervale, with rare ability (subject to council approval) to retain and build behind both properties side by side. A unique development for the aspiring developer looking to make some quick cash. Both zoned R20/40 totalling 716sqm each (total land area of 1432sqm ). With a host of redevelopment options available, which will require council approval, which could include:

- Retain the 2 existing character homes via the right of carriageway driveway and create 2 rear blocks to build on. This approval would require the existing homes to be upgraded and renovated.
- Given the R20/40 zoning demolish the existing homes and build up to 14 apartments.
- Demolish the existing homes and build up to 6 townhouses
- Create 4 blocks - 2 street frontage and 2 rear blocks
- Council approval would be required for all development options

The existing improvements on the sites are as follows:

55 Kooyong Road, Rivervale - 1950's mock Red Brick and Tile 3x1 character home on 713sqm block - the perfect renovator!.
- Shady front verandah
- High ceilings
- Timber laminate flooring over hardwood jarrah floors
- Formal lounge with fireplace.
- Central kitchen area.
- Secondary living/meals area with split system air-conditioning
- Semi-renovated bathroom
- 2 double size bedrooms
- 1 single size bedroom
- Outdoor patio area
- Freestanding lock-up garage
- Security screens
- Fenced for future sub-division
- Currently rented to $320pw

57 Kooyong Road, Rivervale - 1950's Fibro and Tile character home on 713sqm R20/40 block.
- Formal lounge/dining room with fireplace and split system air-conditioning
- Shady front verandah
- Light and bright remodelled kitchen area with dishwasher, gas upright cooker, dbl stainless steel sink and an abundance of cupboards and bench space.
- Renovated bathroom
- Freestanding rear lock-up garage
- Currently rented at $290pw

For more info or a detailed development pack contact KIM FINDLAY on 0404 461 174