37 Blaxland Way, Padbury WA 6025

Developer upside on 440sqm R40 zoned block with duplex potential in a tight supply area, below estimated value at $899k. A 1978-built three-bedroom, one-bathroom house on a 440-square-meter block zoned R40, the dwelling spans 152 square meters with 35% building coverage, leaving substantial land for development. The property is tenanted and provides rental income of $750 per week. The listing price sits approximately $131,000 below the estimated valuation, indicating possible motivated selling or market adjustment. The property has generated interest with a structured sales process and is positioned for owner-occupiers, investors seeking immediate yield, and developers targeting duplex opportunities in this zoning. Located within the Joondalup council area with no bushfire, flood, or heritage overlays, the property benefits from proximity to Bambara Primary School and Duncraig Senior High School, with access to shopping centers, parks, and public transport. The block offers development upside through duplex potential, given the 440-square-meter size and 35% building coverage. Current rental income of $750 weekly represents a gross yield of about 4.3%, with moderate water and shire rates. The 1978 construction and single bathroom may require maintenance, and duplex development would require council approval and capital.