49 Leonora Street COMO WA 6152
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49 Leonora Street, Como, Western Australia (632 sqm) 51 Leonora Street, Como, Western Australia (612 sqm) **Combined Land Size:** 1244 sqm **Combined Frontage:** 40 meters "An Extremely Rare Development Site" Capitalizing on the location and planning guidelines under the Canning Bridge Activity Centre Plan, the site's rectangular shape and ample 40 SQM frontage make it an excellent candidate for Como's next BIG Landmark. **Opportunity Highlights** - Generous Land Size: Amalgamate the two blocks to create a massive 1244 sqm rectangular site, perfect for multi-storey development. The current zoning allows for up to 8 storey apartment building (STCA). The combined frontage of 40 meters enhances the appeal and flexibility of your project. - High Rental Yield: The existing 4 Units on Each block are 2 bedrooms 1 bathroom each. . The 8 units are currently tenanted, generating an annual income of $82K, providing immediate returns on your investment, while you work through your plans. (Updated Rental assessment shows a potential Gross Rental Income of Approx. $187,000 P.A.) - Approved plans in place for 39 Apartments in an Eight-Srtorey Apartment Building. Approval is valid until January 2025. ** Further Options** - Buy Now, Landbank & Profit Later: Secure the property now, enjoy the lucrative rental returns, and sell in the future for a potential profit as the area continues to develop and grow in value. - Subdivide & Develop: Purchase the two blocks, subdivide each, and plan your future construction (Subject to Special Council Approvals). - Build Your Dream Home: Construct your dream multi-storey home in this exceptional location (Subject to Special Council Approvals). Enjoy living in a prime area with all the conveniences and attractions Como has to offer. **Unparalleled Location** Nestled in the heart of Como, these properties are situated within the futuristic vision of Canning Bridge Activity Centre Plan, offering immense development potential and unmatched location advantage. With easy access to a range of amenities and attractions, this location is genuinely exceptional. The below nearby attractions are only to mention a few (Distances Are Approximate): - **Swan River (300m): A short stroll away from the scenic beauty and recreational opportunities of the Swan River. What can be better? - **Canning Bridge Station: Only 450 Meters to Canning Bridge Station, providing seamless public transport options, making commuting to Perth CBD