Retain and Build Property Sorrento Example

Here’s an example “retain and build” property that I recently purchased for an investor client:

Sorrento 4×2 house with the ability to retain the house and subdivide off a street-front lot over 300 sq metre

retain and build property Sorrento WA retain and build property Sorrento WA retain and build property Sorrento WA retain and build property Sorrento WA

Tidy 4 bedroom, 2 bathroom house with 2 street frontages & laneway. By removing the double garage and creating parking via the laneway, a new 305sqm block could be created in this prime beach-side suburb. The house was well-maintain with some upgrades done, however a little more work to the kitchen and bathrooms would take it to the next level.

Purchase price: $797,000

Appraised value: $820,000

Median house price of Sorrento: $925,000

Rent return: $510 per week (in current condition)

Land size: 711sqm

Distance to local shops: 1.5km

Distance to Leisure Centre: 900m

Distance to the beach: 1.4km

Distance to Hillarys Boat Harbour: 3km

Distance from Perth CBD: 20km

This style of property would be more suited for investors wanting higher growth, with reasonable rent returns, and some good development options for the future.

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