53 Leman Street, Manjimup WA 6258

1969 build | large 1672m² block | fixer-upper with potential | high rental yield | near high school This house presents a high-yield, value-add proposition on a substantial block in a central location. Its core strength is the land-to-price ratio, offering significant future utility for renovation or expansion, best suited for an investor or owner-occupier comfortable with a project. The reliable rental yield and proximity to schools anchor its cash flow and appeal to a tenant pool seeking family-friendly locations. The primary cost is the capital and effort required to modernize a 57-year-old structure, with a noted discrepancy in bedroom counts suggesting potential layout inefficiencies. The commercial logic is clear: acquire at a low entry point, realize the inherent land value, and capture uplift through strategic improvement. This is a hold-and-enhance property, not a passive investment. * **50B Leman Street, Manjimup:** Estimated value $652,000 (off-market). * **This property’s last sale:** October 1999 for $70,000. The single comparable indicates higher valuations are achievable in the immediate area, while the decades-long holding period of the subject property underscores a likely substantial equity gain for the outgoing vendor, framing the current opening bid as a potential market entry point.