71 Wasley Street, North Perth WA 6006

1910 character home | 515m² large inner-urban lot | duplex potential | strong rental yield signals | walkable primary school This property presents a competitive proposition based on its substantial 515m² land holding in a tightly held inner suburb, a configuration increasingly rare. The 1910-built home, updated in 2019, offers above-standard four-bedroom accommodation, but its underlying value is the duplex notation, suggesting latent subdivision potential that typical freestanding houses in North Perth lack. It serves the strategic buyer seeking a long-term holding with multiple exit strategies, either as a single large family home or a future development site, supported by strong rental demand indicators. Proceed with a disciplined due diligence process on the duplex potential, as this is the primary value mechanism; conflicting records on layout and building area introduce cost risk in realizing that potential. The significant gap between the asking price and automated valuation models represents a substantial premium you are paying for the land’s future optionality. Acquire this only if you intend to capitalize on its development upside within a decade, otherwise the yield does not justify the entry price against renovated character homes on standard lots.