101 Devenish Street East Victoria Park WA 6101

High lot coverage | aging structure | long-held ownership | standard rental yield | no heritage protection. The 27 percent site coverage on a 744-square-metre lot creates a deliberate redevelopment opportunity but carries cost risk: the existing 203-square-metre fibro and tile house limits immediate usable space and will require structural assessment. The long single-family tenure suggests deferred maintenance, which may surface in the first 12 months. The buyer effectively pays for land value with a depreciated dwelling-commercial logic points to holding for capital growth or planning a future subdivision, not relying on the current house for premium living. Unless site redevelopment is within the buyer’s capability and time horizon, this property carries a dilapidation premium that is not recoverable in the short term. Competitive strength lies in the rarity of a 744-square-metre lot in East Victoria Park at this price point given the suburb’s 1.415 million median for four-bedroom houses. The full-height 7-metre roof and 30-metre ground elevation offer natural light and drainage advantages over neighbouring properties on the flat. Fibre to the premises and 5G coverage support telecommuters without being primary drivers. This property suits a buyer with medium-term capital growth objectives who can hold through a renovation or an investor seeking a land-bank play in a suburb with 72 percent long-term residents and strong owner-occupier character. The median sales price for comparable four-bedroom houses in East Victoria Park is $1.415 million based on 44 transactions this year, averaging 14 days on market. Individual estimates for this property range from $1.277 million to $1.32 million-both below the suburb median-suggesting the current dwelling condition is already priced into the market and that land value alone supports the offer range. A buyer paying near the lower estimate of $1.277 million secures an entry point 10 percent below suburb median for a full-size lot in a stable catchment.