3 Elizabeth Street North Perth WA 6006

Elevated 980m² block with sweeping city views | rare large parcel in North Perth | scope to renovate or extend | tightly held location near Angove Street cafes. This property presents a rare development opportunity on a substantially larger than typical block in a tightly held precinct, with its elevated position securing permanent city views. The 980m² land size and low building coverage offer clear scope for renovation or extension, serving a buyer seeking a premium lifestyle position or a strategic land bank. Its proximity to the vibrant Angove Street strip and the CBD underpins enduring convenience and rental demand, best suited for a long-term holder or developer. Key risks include the valuation discrepancy between the listing and market estimates, and the premium required for a view block which may limit buyer competition. The 1969 vintage necessitates a thorough building inspection budget. Proceed with a disciplined budget based on recent comparable sales, not aspirational pricing. A professional valuation and detailed due diligence on renovation costs are essential to justify the investment, which Propcred can directly facilitate through its real market valuation and locality risk assessment. Recent comparable sale at 16 Elizabeth St: a 3 bed, 1 bath house sold for $1,720,000 in February 2025. This suggests a premium is achievable for well-positioned homes, though this subject property’s significantly larger land size and views command a higher price point, which must be validated against current market appetite.