78 Strickland Street, East Bunbury WA 6230

78 Strickland Street, East Bunbury WA 6230
Corner block R20/R60 zoning | developer upside with immediate rental income | 928sqm redevelopment potential | long-term owner-occupied street This property offers a rare combination of immediate rental return and significant redevelopment upside, making it best suited to an investor or developer with a medium-term horizon. The 928sqm corner block zoned R20/R60 enables up to six units, while the existing 1960s house provides $580pw tenant income during planning. The street’s 90% owner-occupancy and long-term resident profile indicate stable demand and low turnover risk, supporting both holding and future sale strategies. The primary risk is that the property’s value is tied to council approval for multi-unit development, which introduces timing uncertainty and potential design constraints. The 2m ground elevation may require careful stormwater management for denser development. However, the absence of bushfire, flood, or heritage overlays reduces regulatory friction, and the corner position improves site access for subdivision. The current rental yield at $580pw is below the estimated market range, offering some upside upon lease renewal.
Detailed Independent Property Report prepared  by PropCred Analyst team for 78 Strickland Street, East Bunbury WA 6230
Checks found:
Value Risk ! 1
Liquidity Risk ! 1
Planning Risk ! 1
Income Risk ! 1
Execution Risk ✓
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Market Insight

East Bunbury is a tightly held suburb with a mature demographic, positioned as a convenient coastal lifestyle entry point near Bunbury’s regional amenities. Demand is driven by sea-changers and yield-focused investors, attracted by strong rental fundamentals and low regional vacancy. This has fueled significant recent price appreciation and a rapid sales environment. Future growth is linked to sustained coastal migration, though the market faces a potential shift as listings increase from historic lows, testing affordability after a period of sharp value gains.
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PropCred Estimated Value

Bedrooms

3

Bathroom

1

Parking

2

Land

928m²

Research & Review Prepared by Steve Dalton, Senior Analyst · Reviewed by Matt Proctor, Principal Analyst
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