9 Velsheda Green, Ocean Reef WA 6027

Rare 820m² block in coastal Ocean Reef | 5-bed layout for multi-gen | Land value key driver | Renovation upside | Owner-occupier focus The property is positioned as a premium family holding due to its substantial 820m² land parcel within a coastal suburb where large blocks are increasingly scarce. The 5-bedroom 3-bathroom configuration is noted for suiting multi-generational households or buyers requiring significant accommodation which broadens the buyer pool. The land size is considered the primary value driver with the existing dwelling offering renovation or extension potential that could unlock equity over time. The main risk is the dwelling’s age given the 1990 build which may require capital for updates although this is not confirmed. Buyers should budget for potential renovations to align the house with modern standards. The opportunity lies in the land holding the block could support future subdivision or a substantial extension depending on council regulations. Hold the property for land appreciation in a desirable coastal corridor or renovate to capture contemporary market premiums.