2/20 Upper Esp, Bunbury WA 6230

Oceanfront positioning | R40 redevelopment potential | 3-bed 1-bath townhouse | Strong capital growth since 2020 This property’s primary buying case rests on its rare combination of immediate ocean proximity and R40 zoning on a 306 m² lot. The 3-bedroom townhouse configuration with four car spaces and a courtyard offers a low-maintenance coastal lifestyle that appeals strongly to downsizers or investors seeking premium rental demand in Bunbury. The 4.8% gross yield estimate is competitive for the area, and the location near Bunbury Primary School and the city centre reinforces consistent tenant interest. The building size at 99 m² is modest but functional, and the 1991-1992 construction suggests reasonable structural condition for its age. The key risk is the bushfire overlay detected on the property, which may increase insurance costs and could affect future renovation or extension approvals. The single bathroom is a limitation for family buyers or those seeking higher rental returns, and the Fibre to the Node connection is adequate but not a prime value driver. On the opportunity side, the R40 zoning opens potential for future subdivision or density increase, subject to council approval, which could significantly enhance long-term value. The property’s 306 m² land size, while not large, is positioned in a premium pocket where land scarcity supports capital appreciation.