8 Bourdman Place Spalding WA 6530

Renovated 4-bedroom on 1086m² block | Rented $570pw until 2027 | No overlay risk | Bluff Point Primary intake area The buying case rests on a rare combination of a fully renovated four-bedroom house on an oversized 1086m² lot within a proven rental corridor, secured by a lease to January 2027 at $570 per week. The 30% site coverage leaves meaningful land value beyond the dwelling, and the absence of bushfire, flood, or heritage overlays simplifies due diligence for an investor or owner-occupier seeking a low-surprise holding. The solar panels and pool add tenant appeal without inflating the purchase price. This property serves best a buyer who values immediate, predictable cash flow from a modernised interior on a site that retains future subdivision optionality. The principal risk is that the 1982 build, while renovated, sits on a 1086m² lot in a suburb with 138 listings, meaning resale competition is real if the market softens. The current lease rate sits at the median, offering no rental upside until renegotiation in 2027. For an investor, the opportunity is to hold through the lease term, refinance against the land value uplift, and then reassess subdivision or sale. For an owner-occupier, the house is ready to move into with no immediate capital works. Either way, buy on the basis of the land and the lease, not the finishes.