15 Bishopsgate Street, Lathlain WA 6100

Potential 2-unit development site | R40/60 zoning | 520m² land | 5 car spaces | Lathlain lifestyle precinct This property presents a clear development proposition, not a standard house purchase. Its core strength is the R40/60 zoning on a 520m² lot, a configuration rare for the area that signals tangible subdivision or dual occupancy potential, subject to council approval. The existing dwelling, while dated, provides immediate rental income as evidenced by the current $700 per week market listing, positioning it for a buyer seeking a strategic land bank with interim cash flow. It serves an investor or owner-builder aiming to capitalise on the underlying land value. The primary risk is council approval, a non-financial cost of time and potential plan rejection that can sterilise the development premium paid. The 1982-built structure carries renovation cost exposure if retained. The commercial logic is to acquire based on land value per square metre, treat the existing house as transitional, and pursue a two-unit development to realise the zoning advantage. A professional valuation is essential to separate the land premium from the dwelling value. A Propcred report would pressure-test the development feasibility, identify locality-specific planning risks, and provide accurate insurance rebuilding costs for the existing structure.