- 2 houses (3x1) in original condition located in Marangaroo - 1465m2 land side by side, rectangular blocks - r40, quiet street. How much would you think they would fetch? (City of wanneroo, R40)
Development value is probably nothing in the area. So probably just the same as 2 normal houses, albeit maybe 20% less if they are only being sold together.
Most of the "R40" in the suburb is actually R20/40 as well, and I can't remember the conditions to get the higher coding off the top of my head - but its not a given remember.
Unfortunately probably not much more than 2 not side by side blocks. Marangaroo is City of Wanneroo from recollection and their R20/40 policy dictated only one crossover was allowed per block so although you get an additional crossover it probably doesn't help much.
I just thought that perhaps the crossover could go in the middle & therefore allow any potential villas built to be a little larger... thanks for the feedback.
Well yes it could but once you reach 5 villas you need a wider driveway to accomodate that so it's a bit of a double edged sword. It's probably still a gain however From a financing perspective, anyone who's going to develop 6 on the combined lot will need to use a commercial loan which probably puts some people off too. Owning 2 side by side can have benefits but I'm not sure in that area they would necessarily convert to more in selling them as 1 lot vs 2 lots.
