261 Marmion Street, Cottesloe WA 6011

Pre-war build on 911sqm in Cottesloe | 33% site coverage signals redevelopment optionality | 4-bedroom house with carport and solar | Strong owner-occupied street with 80% long-term residents. This property offers a rare combination of generous land size and low site coverage in a tightly held coastal suburb. The 1922 house, while modest in bathroom count, provides immediate habitable space on a 911sqm lot where only one-third is built upon. For a buyer seeking either a family home with scope to extend or a land-holding play, the configuration edge is clear. The street profile, with 80% owner-occupancy and 81% long-term residents, suggests stable demand and limited turnover, which supports value retention. This property best suits a buyer who values location and land optionality over turnkey finish, particularly those with a medium-term view to renovate or redevelop. The main risk is the single bathroom, which may limit immediate appeal to families and could require upgrading to achieve top resale value. The recent 2024 sale and subsequent lease indicate the property has been transacted recently, potentially narrowing short-term capital growth if the market has not shifted significantly. Opportunities lie in the 33% site coverage allowance, which permits substantial extension or a new dwelling subject to council approval, adding value through design. The solar panels and reliable internet are supporting features but not primary drivers. Hold this property for its land bank potential in a low-turnover suburb, or use it as a long-term family base with staged improvements.