Whether you're looking for a timeless investment, a property to add serious value to through renovation, a block with subdivision potential OR a place to build your dream home. 18 Eldon Street presents an exciting opportunity to make use of so many options in the HEART of Dianella!

Positioned on a substantial 749sqm R30-zoned allotment, this unique property has had one owner since the 60's. Seeing the potential they decided to build two units connected by one roofline but never did a subdivision to separate the titles.

Originally constructed in 1969, the brick-and-tile property comprises two functional 2-bedroom, 1-bathroom homes, both of which remain largely original with minor improvements made over the years.

While there's certainly room to roll up your sleeves and give these homes a new lease on life, the real attraction here is the flexibility on offer!

With two existing tenancies providing an immediate rental income, investors can enjoy holding with the luxury of time while considering their options for the future.

Renovate and revitalise the existing residences, explore opportunities to improve rental returns, or investigate the development possibilities afforded by the generous landholding and R30 zoning (subject to relevant council and WAPC approvals).

The location makes this opportunity truly hard to pass. Just moments from some of the Perth inner north's favourite schools, parklands, cafes, eateries, golf clubs AS WELL AS the CBD / Airport! All part of what keeps the 6059 postcode consistently involved in conversations for Perth's favourite suburbs

CURRENT TENANCIES:
18A Eldon - Fixed Term Lease expiring 6/11/26 (ticks to periodic basis post term)
- Returning $395 per week
18B Eldon - Periodic Lease
- Returning $280 per week

Both rents are truly below market value.

RENTAL APPRAISALS (APPROX.)
18A Eldon - $725 per week
18B Eldon - $650 per week


FEATURES YOU'LL LOVE:
- Quiet Street with great neighbours
- R30 ZONING
- Approx. 20.12m frontage, narrowing to 15.09 at the rear
- 2 VERY Functional homes with spacious interiors & large rear yards
- Generously sized bedrooms & bathrooms
- Property back onto a park
- Flat block
- Great tenants

WHATS NEARBY:
- Perth CBD / Airport
- Great public / private schooling
- Morley Galleria / Dianella Plaza
- Easy access to public transport / arterial transport routes in every direction
- Cafes / Restaurants on Walter Rd and Beaufort St strips
- Dianella Open Space
- Mt Lawley Golf Club


Disclaimer:
This information is provided for general information purposes only and is based on information provided by the Seller and may be subject to change. No warranty or representation is made as to its accuracy and interested parties should place no reliance on it and should make their own independent inquiries. Added 21 September, 2026 Property ID: #L42895964