10 Harrison Street, Bluff Point WA 6530

Large R40 block | coastal pocket | 1970s house with redevelopment upside | minutes to shoreline This property is competitively positioned as a dual-purpose holding: a functional four-bedroom home on a 782-square-metre R40-zoned lot in a coastal suburb where large blocks are becoming scarce. The practical layout and immediate liveability serve a buyer seeking both rental income and medium-term land appreciation, while the zoning signals future subdivision or redevelopment potential that is not yet priced into the asking. For an owner-occupier, the Bluff Point Primary catchment and proximity to the shoreline add lifestyle weight; for an investor, the estimated $600-per-week rent supports holding costs while the land component appreciates. The principal risk is that the $650,000 asking exceeds the automated valuation by roughly $68,000, meaning a buyer must justify the premium through land value analysis or comparable sales evidence. The 1970s building condition, single bathroom, and 130-square-metre footprint limit immediate rental yield if extensive renovation is required. However, the R40 zoning, absence of bushfire or flood overlays, and the 989-square-metre block at 33 Harrison Street as a local precedent all point to genuine redevelopment optionality. A buyer prepared to hold for three to five years can capture both rental income and land uplift, provided the purchase price is negotiated closer to the estimated market value.