22 Olding Street, Melville WA 6156

Three-bed brick home | Fully renovated | Heritage overlay | 728m² block | Prime Melville location This property presents a competitively strong offering due to its substantial, fully renovated home on a large 728m² block within established school catchments, a combination increasingly rare in this area. The single-family history and complete renovation mitigate immediate capital expenditure, positioning it ideally for an owner-occupier seeking a turnkey home with scale, or a long-term investor targeting family tenants. The heritage overlay, while a constraint, formally protects neighbourhood character, directly supporting the property’s enduring appeal. The primary decision hinges on navigating the heritage overlay’s specific controls, which impose future alteration costs and limit redevelopment potential, effectively capping the land value premium. The commercial logic is to acquire and hold for lifestyle or stable rental income, not for speculative value. Given the valuation sits at the midpoint of its range, proceed with a strategy to occupy for the long term or secure a tenant under the strong rental yield, as its value is in its present use, not future densification.