5/10 Athletes Parade, Floreat WA 6014

Large townhouse on rare 1538m² strata lot | Floreat Park & Shenton College catchments | Positioned above typical unit stock This property presents a rare configuration, combining a multi-bedroom townhouse with a land parcel significantly larger than the standard Floreat strata lot. This offers a scarcity premium, appealing to buyers seeking space and low-maintenance living within premier government school zones. It best serves an owner-occupier, particularly a family prioritizing catchment security over a freestanding house, or an investor targeting long-term capital growth from its land component within a grouped development. The primary risk is the opaque strata structure and the lack of recent, direct comparable sales, making precise valuation difficult. The 2022 sale of a similar unit in the complex provides a base, but the substantial lot size here commands a premium that is untested in the current market. Proceed with a strata report review and a buyer-specific valuation to anchor your offer, positioning this as a long-term hold to realize its land value potential. * 6/10 Athletes Parade (3 bed, 3 bath unit) sold for $1,160,000 in November 2022. * 10 Athletes Parade (79m² lot) holds an estimated value of $2,165,000. The 2022 sale establishes a baseline for a standard unit in the complex, while the lot valuation for the parent title highlights the significant land value at play. This townhouse’s price must bridge the gap between these figures, justifying its premium through its unique, larger land entitlement.