2 Celestine Street, Wanneroo WA 6065

Duplex on single title | 923m² corner block | R20/R40 zoning | dual income but limited exit options The primary risk here is the single-title structure, which locks both houses together and prevents separate sale without subdivision approval. This limits exit flexibility and may reduce the buyer pool when reselling. The zoning overlay does offer genuine future subdivision optionality, but the cost, council timeline, and approval risk are real friction points that must be factored into any holding period longer than five years. On balance, this property works best as a long-term land bank with immediate rental yield, not a short-term trade. What makes this competitive is the corner block and dual-street access, which improve subdivision feasibility without relying on neighbours. The 1978 build is older but functional, and the duplex layout provides two separate income streams from day one, reducing vacancy risk. This suits a patient investor or developer who can absorb holding costs and council timelines. The two isolated driveways and separate entries also help with tenant separation. A buyer should test subdivision costs with a town planner early, not after settlement.