21 Mccormick Street Warnbro WA 6169

728sqm corner block | 1971 brick-and-tile | Warnbro school zone | long-term owner suburb This property offers a rare combination of a full 728sqm parcel with a modest 95sqm footprint, giving a buyer genuine redevelopment optionality without paying a premium for a completed renovation. The 13% building coverage is unusually low for a 1970s house, meaning the land holds more value than the dwelling—a structural advantage for anyone looking to hold and improve or eventually subdivide. The suburb’s 71% long-term resident rate and 90% owner-occupancy signal stable demand, and the proximity to both primary and secondary government schools makes this a strong candidate for a family buyer who values land banking over immediate cosmetic perfection. The principal risk is the house itself: a 1971 structure with a single bathroom and carport, likely requiring significant capital to bring to modern standards. The estimated rental of $500–$595pw suggests a gross yield below 4%, so this is not a cash-flow play unless the buyer adds value. The opportunity lies in the land’s zoning and absence of overlays, which lowers the cost of future development. A buyer should treat this as a land play with a rentable dwelling attached—hold for three to five years, then either renovate to lift equity or seek subdivision approval.