43 Alexander Road, Rivervale WA 6103

Large block with 5 car spaces | Heritage overlay, no bushfire/flood | 3-bed house in established suburb | Strong rental yield estimates. This property presents a compelling proposition based on its substantial 620m² landholding and exceptional five-car parking capacity, a rare configuration that provides significant utility and future flexibility in this suburb. The heritage overlay suggests a stable, established streetscape, while the absence of bushfire or flood risk removes two major insurance and due diligence concerns. It is best suited to a buyer seeking a low-maintenance, high-amenity land parcel, whether for extended family use, as a long-term hold with strong rental appeal, or for its future subdivision potential subject to council approval. The primary decision hinges on the price premium justified by its land size against the dated dwelling, as the building coverage is only 18%. The heritage controls may limit redevelopment scope, adding cost and complexity to any major renovation. Acquire at a price that reflects the existing house’s condition, not just the land value, to ensure the commercial logic of the holding costs. This is a strategic land play with a functional existing house, not a premium renovated home. Recent sales on Alexander Road provide context: – 140 Alexander Rd: 3-bed house sold for $850,000 after 21 years, indicating 6.59% annual growth. – 183 Alexander Rd: 2-bed house sold for $750,000 after 3 years, showing 11.96% annual growth. – Multiple unit sales at 1-19/6, 5/6 Alexander Rd demonstrate active demand for varied housing in the street. The strong growth trajectory of recent house sales, particularly the substantial gain at 183 Alexander Road, supports the underlying demand for properties in this location. The subject property’s larger land size and greater car accommodation position it at a premium to these comparables, but the final valuation must be tempered by the functional obsolescence of the dwelling itself.