224 High Road Riverton WA 6148

R40 zoned 811m² | flat green title | triplex potential | Riverton school catchment The property’s primary buying case rests on its R40 zoning on a flat, serviceable 811m² Green Title block with no overlay constraints, which positions it for immediate triplex or dual occupancy subdivision. The existing dual-living layout with separate air conditioning and a renovated kitchen already delivers two income streams, reducing holding costs during a development pathway. This suits a buyer who can hold for subdivision or wants high-yield dual occupancy in a catchment anchored by Rossmoyne Senior High School. The flat terrain and sewer at the rear corner lower subdivision risk compared to sloped or unserviced sites. The main risk is the 23% building coverage, which limits what can be retained if full redevelopment is pursued, and the FTTN NBN connection, which is a minor discount for premium tenants. The current bid at $790,000 sits well below the estimated $1.57M value, but the $1.3M–$1.43M asking band suggests the vendor may accept a price that still leaves subdivision margin. Hold for dual occupancy income, then subdivide when the market lifts or council density targets tighten further.