129 Penguin Road, Safety Bay WA 6169

Large coastal block near beach | Fully renovated 5-bed family home | Solar & workshop add utility | Long street tenure suggests stability This property presents a competitively strong offering as a large, fully renovated family home on a substantial lot one street from the foreshore. Its five-bedroom format, modernised interiors, and added features like solar panels and a powered workshop are rare in this coastal locale, serving a buyer seeking a permanent, low-maintenance residence with space and energy efficiency. The combination of a fully electric home with ducted air-conditioning and a high building coverage on a 910m² lot positions it for long-term holding with minimal immediate capital requirement. The primary risk is the price positioning against recent street sales, which have been significantly lower, though for smaller, less improved houses. The opportunity lies in securing a turn-key, larger-scale property in a stable, long-held street where future supply is constrained. The commercial logic supports acquisition for owner-occupation, leveraging its rarity and renovation premium, rather than short-term investment given the estimated rental yield. Proceed if the lifestyle and space premium justifies the market price. Recent Penguin Road sales provide context: 93 Penguin Rd sold for $1.1415m (3 bed, 1 bath); 149 Penguin Rd sold for $720k (4 bed, 1 bath); 113 Penguin Rd sold for $910k (3 bed, 1 bath). These comparables are for smaller, likely unrenovated houses on presumably smaller lots, underscoring the value-add and size premium commanded by this offering. The sales data confirms this property operates in a different segment, justifying a price well above the basic street median.