473D Canning Highway, Melville WA 6156

3-bed house | 63% site cover | 3-level design | no overlays | solar & FTTP This property presents a tightly configured three-level house on a fully utilized lot, a format offering internal volume atypical for its land size. The absence of bushfire or heritage overlays removes material approval risks, while the high building coverage and three-car provision signal a design prioritizing internal utility over outdoor space, suiting a professional household less dependent on gardens. Its position within the public school catchments provides a stable demand base from families. The primary risk is the compressed lot, limiting expansion and creating potential for overshadowing or privacy issues with adjacent multi-level builds, which may cap future capital growth relative to larger-block properties. The significant valuation leap since 2022 suggests much of the area’s redevelopment premium is already priced in. Acquire for long-term holding as a primary residence to leverage its efficient space and connectivity; its investment yield is secondary to its owner-occupier utility. Nearby sales indicate a premium for developed properties: • 473C (Vacant Land, 230m²): ~$1,199,000 • This Property (3-bed House): ~$1,935,000 • 473E (4-bed Townhouse, 230m²): Price undisclosed, but format comparable. The ~$736,000 premium over the vacant lot next door demonstrates the substantial value attributed to the built form here, anchoring this property’s current valuation within the immediate streetscape context.