4 Neale Place, Cooloongup WA 6168

Large 684sqm block | dual side access | tenanted income | below-market rent | high owner-occupier street This property’s primary buying case rests on its unusually large block with dual driveways and gated side access, a configuration rare in Cooloongup and highly sought after by buyers seeking space for a pool, workshop, or future ancillary development. The existing tenancy at $540 per week provides immediate holding cover, though the rent sits notably below the estimated market range, indicating a clear re-leasing opportunity. The bore-reticulated lawns, L-shaped patio, and powered shed add genuine utility for a family or investor who values outdoor function. It is best suited to a buyer with a medium-term horizon who can hold through the current lease and capitalise on both rental uplift and land value growth in a suburb showing 13.7% annual appreciation. The main risk is the below-market tenancy locked until August 2026, which limits immediate cash flow and may deter buyers needing full rental return from day one. The 1986 build with evaporative cooling and single bathroom will feel dated to owner-occupiers seeking modern finishes. However, the block’s size and side access create a genuine opportunity to add a granny flat or pool, subject to approvals, which could significantly lift property value and rental yield. The street’s low turnover and high owner-occupier profile suggest stable long-term demand, reducing resale risk for a patient buyer.