31 Harley Way, Medina WA 6167

1953 cottage | 809m² large block | heritage overlay | dual rear access | solar & workshop This property presents a rare, large block in an established suburb, offering immediate utility through its dual driveways, council-approved workshop, and solar panels, positioning it for an owner-occupier seeking space or an investor targeting the stable rental demand demonstrated by its recent tenancy. The heritage overlay and 1953 build necessitate a focused assessment of improvement costs against the lot’s inherent scarcity value. The primary risk is the capital required to modernize the cottage within heritage constraints, which may not be recovered in the near term. The opportunity lies in securing a large, serviced parcel in a walkable location where future subdivision, though limited by the overlay, is less relevant than the current utility. Acquire for long-term hold, utilizing its current income to offset holding costs while planning incremental, compliant upgrades.