10/16 Magpie Street, Margaret River WA 6285

Renovation project in prime location | Bushfire overlay requires due diligence | Strong rental demand for finished product This townhouse is positioned as a rare entry point into Margaret River’s tightly held market, where land supply is constrained and buyer demand remains consistent. The 188-square-metre block, while compact, offers a blank canvas for a buyer willing to invest in substantial renovation work. The property’s location within walking distance of Rapids Landing Primary School and under two kilometres from the town centre and senior high school gives it strong appeal for families and long-term residents. The absence of short-stay zoning reinforces its suitability for owner-occupiers or investors seeking stable rental tenure, with an estimated weekly return of $575 once improved. The bushfire overlay is the primary risk factor, as it may increase insurance costs and impose additional construction or vegetation management requirements during renovation. However, the property sits outside flood and heritage overlays, simplifying approvals for structural changes. The current condition means the purchase price sits below the estimated improved value of $634,000, offering a clear value-add opportunity for a buyer with renovation capacity. The 2010 build date suggests modern framing and services, which reduces the likelihood of major structural surprises relative to older stock. For a buyer able to manage the renovation timeline and bushfire compliance, this property represents a disciplined entry into a market where finished product is typically priced higher.