482 Canning Hwy, Attadale WA 6156

Set on a 1,032sqm corner block with dual street frontage and flexible R25/40 zoning (subject to City of Melville approval), the property comprises of six, two-bedroom, one-bathroom units held under a single title - simplifying acquisition and future redevelopment.

This is a genuine dual-purpose asset appealing to both investors seeking yield improvement and developers looking for a strategic site in one of Perth's tightly held riverside suburbs.

Immediate Income + Massive Value-Add Potential:

This is an extremely rare opportunity - six established residential units delivering approx. $102,960 per year from day one, giving you immediate, reliable holding income.

With smart staged upgrades - think modernised interiors and refreshed external presentation - there's strong potential to push rental returns toward $170,000–$180,000 per annum, significantly boosting gross yield while keeping future redevelopment options wide open.

Add in the strong underlying land value and prominent corner positioning, and you've got a strategic holding that combines instant income with exceptional long-term upside - a truly hard-to-find opportunity in Attadale.

Development Potential (STCA):

Zoned R25/40 under the City of Melville, the site offers genuine redevelopment flexibility and multiple feasible outcomes. Subject to approval, developers may consider:

• 3–4 grouped dwellings or townhouse configuration

• Boutique 2–3 storey apartment development

• Optimised corner design maximising frontage and yield

The 1,032sqm corner configuration is a key advantage, providing dual street access, improved vehicle circulation, enhanced design efficiency, and greater architectural flexibility. This positioning supports stronger end-product differentiation and premium resale values.

With continued buyer demand across Attadale's riverside precinct and limited availability of corner redevelopment sites of this scale, 482 Canning Highway represents a strategic medium-term project with compelling margin potential.

Location Advantage:

Located minutes from the Swan River foreshore, quality schooling, and key lifestyle hubs, the property offers excellent connectivity to Fremantle and Perth CBD. Attadale continues to attract strong buyer and tenant demand due to its riverside lifestyle, established amenities, and long-term capital growth profile.

Why This Asset Stands Out:

• Large corner landholding in tightly held suburb

• Immediate income from 6 established residential units with value-add potential

• Current income approx. $102,960 per annum with scope to increase rental return through staged refurbishment

• Straightforward single-title acquisition

• Flexible zoning R25/40 corner site with prime redevelopment potential (STCA)

Opportunities of this scale and positioning are increasingly rare. Contact Paige Garvey & Yen Wong for more information.

Disclaimer:

Please note that images are for illustrative purposes only and may not reflect the current furnishings or fixtures included in the property sale.

This property description is provided for general information purposes only. While the Blackburne team has taken reasonable care to ensure the accuracy of the information, we make no guarantees or warranties, express or implied, as to its correctness. Prospective buyers are strongly advised to conduct their own independent due diligence and seek professional advice where necessary. The Blackburne team accepts no liability for any errors, omissions, or discrepancies contained herein.