40 Gregory Street, Belmont WA 6104

3 bed 1962 house | 398m² build on 446m² lot | subdivided block | two carports | high site coverage | Belmont This property’s primary buying case rests on its unusually large building footprint for the lot size, offering two distinct living areas and two toilets in a 1962 build that is rare for the area. With an 89% site coverage, the house maximises internal space over land, which suits a buyer prioritising immediate livability over yard potential. The subdivided block (40A and 40B adjacent) signals a densifying street, and the 80% owner-occupier profile suggests stable neighbourhood demand. It serves best as a long-term hold for an owner-occupier who values a solid, well-equipped home with air conditioning and outdoor entertainment space, rather than a land-banking play. The key risk is the subdivided lot limiting future redevelopment or extension options, as the original 930m² has been split. The 89% site coverage means minimal outdoor space for expansion or landscaping, which may reduce resale appeal to families wanting a garden. However, the high internal square footage and two carports offer functional advantages over neighbouring units. With an auction clearance rate of 0% in Belmont, buyers should negotiate firmly below the estimated range. Hold this property as a stable, low-maintenance residence in a well-connected suburb with good school access, rather than expecting significant capital growth from land value.