3 Riseley Street, Applecross WA 6153
3 Riseley Street, Applecross WA 6153
3 Riseley Street Applecross | dual-occupancy configuration | 588sqm land with 3-bed house sold recently | 342sqm development lot still available | established residential pocket
This address presents an uncommon dual-occupancy opportunity within Applecross’s tightly held residential core. The 3-bedroom house at 3/3 offers a generous 588sqm parcel with recent sale evidence at $1.25m, confirming strong demand for established family housing in this catchment. The adjoining 342sqm lot at 2/3, currently offered via expressions of interest, introduces development optionality without requiring demolition of the existing dwelling. For a buyer seeking either a hold-and-develop strategy or a multi-generational configuration, the ability to acquire both units creates rare positioning in a suburb where subdivided blocks seldom surface together.
The primary risk lies in the 2/3 lot’s 118sqm floorplate, which constrains what can be delivered without council variances, and the expressions-of-interest process may attract competitive bidding from developers who value the site differently. The 3/3 unit’s recent sale provides a transparent benchmark, but the 2/3 lot’s pricing remains undisclosed, creating negotiation asymmetry. A buyer should commission a feasibility study on the smaller lot before committing, and if acquiring both, hold the house as a rental while developing the rear parcel — the combined landholding of 930sqm across two titles is the real prize here.
Detailed Independent Property Report prepared by PropCred Analyst team for 3 Riseley Street, Applecross WA 6153
Checks found:
Value Risk
2
Liquidity Risk
2
Planning Risk
Income Risk
1
Execution Risk
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Market Insight
Applecross is an affluent riverside suburb, characterised by its prime location and high-income demographic. Demand is driven by buyers seeking premium residential living, supported by exceptionally strong recent price growth, particularly in the unit market. The market demonstrates robust conditions with houses transacting relatively quickly. Future growth is anchored in its established desirability and limited riverside land, though the premium pricing presents a natural constraint on entry.
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PropCred Estimated Value
Bedrooms
3
Bathroom
2
Parking
2
Land
346m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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