*For an in-depth look at this home, please click on the 3D tour for a virtual walk-through or copy and paste this link into your browser*
Virtual Tour Link: https://shorturl.at/0yEpZ
To submit an offer, please copy and paste this link into your browser: https://www.edgerealty.com.au/buying/make-an-offer/
Mike Lao, Tyson Bennett and Edge Realty RLA256385 are proud to present to the market an extremely rare investment opportunity with a block of three solid brick units on a single Torrens titled allotment merely 5km North East from the CBD. Perfectly positioned in St Peters - one of Adelaide's most sought-after suburbs, this property is situated on a corner block providing potential for future development opportunities (Subject to Approval from Council & All Other Relevant Authorities - STCA), whilst reaping the current benefits of a generous rental return from three separate units.
With dual street frontage, this property enjoys the best of both worlds - a convenient side access away from the main road (via Sixth Lane), as well as a high-profile presence on Stephen Terrace close to local shops.
Each unit features 2 bedrooms, a spacious open plan living, meals and kitchen area, bathroom, separate laundry and front and rear yards.
Current lease information is as follows:
Unit 1 - Weekly rental income $470 until 19/12/25
Unit 2 - Weekly rental income $435 until 24/1/26
Unit 3 - Previous Weekly Rental Return: $455. (Vacant for marketing purposes)
Generating a total of $1,360 gross income per week and lease renewals around the corner, astute investors can enjoy the instant gross income uplift to $78,000 per year once leases are renewed at market rates of approx. $500 per week.
There is the opportunity to renovate the kitchens and bathrooms, and revalue to realise the property's full potential income while simultaneously enjoying tax depreciation benefits and equity increase to reinvest. Alternatively, you can also explore the possibility to strata title and sell the units separately - the choice is yours!
As the units are solidly built, you can also relax and reap the rental returns whilst land banking for future development or rezoning opportunities.
St Peters is one of Adelaide's most picturesque and exclusive suburbs. Surrounded by tree-lined streets and unmatched connectivity, a brisk walk will take you to St Peters Billabong & River Park, and multiple other reserves including Burchell and Hannaford Reserves.
Local bus stops are one street over and shopping needs are all taken care of with The Avenues Shopping Centre (3 minutes), Marden Shopping Centre (6 minutes), The Parade Norwood (10 minutes), and Rundle Mall (10 minutes) all nearby.
Families will appreciate zoning for Adelaide Botanic and Adelaide High School, as well as being in close proximity to other prestigious schools including St Peter's College, St Andrews School and Wilderness.
Whether you're seeking solid rental returns, an investment with upside potential, land banking to develop or the perfect site to build your dream home, this versatile easement free corner 680sqm allotment delivers on location, land size, and opportunity.
Call Mike Lao on 0410 390 250 or Tyson Bennett on 0437 161 997 to inspect!
Year Built / 1973 (approx)
Land Size / 680sqm (approx - sourced from Land Services SA)
Frontage / Irregular - 17.28m (approx)
Zoning / EN - Established Neighbourhood
Local Council / The City of Norwood Payneham and St Peters
Council Rates / $2,795.29pa (approx)
Water Rates (excluding Usage) / $1,199.45pa (approx)
Es Levy / $248.80pa (approx)
Current Rental (when previously fully tenanted) / $1,360pw or $70,720pa
Potential Rental (at market rates) / Approx $1,500pw or $78,000pa
Title / Torrens Title 5455/545
Easement(s) / Nil
Encumbrance(s) / Nil
Internal Living / 178.2sqm (approx)
Total Building / 235.3sqm (approx)
Construction / Solid Brick
Gas / Connected
Sewerage / Mains
Selling Investment
For additional property information such as the Certificate Title, please copy and paste this link into your browser: https://vltre.co/7s9P03
If this property is to be sold via Auction, we recommend you review the Vendors Statement (Form 1) which can be inspected at the Edge Realty Office at 4/25 Wiltshire Street, Salisbury for 3 consecutive business days prior to the Auction and at the Auction for 30 minutes before it starts. Please contact us to request a copy of the Contract of Sale prior to the Auction.
Want to find out where your property sits within the market? Receive a free online appraisal of your property delivered to your inbox by entering your details here: https://www.edgerealty.com.au/
Edge Realty RLA256385 are working directly with the current government requirements associated with Open Inspections, Auctions and preventive measures for the health and safety of its clients and buyers entering any one of our properties. Please note that social distancing is recommended and all attendees will be required to check-in.
Disclaimer: We have obtained all information in this document from sources we believe to be reliable; However we cannot guarantee its accuracy and no warranty or representation is given or made as to the correctness of information supplied and neither the Vendors or their Agent can accept responsibility for error or omissions. Prospective Purchasers are advised to carry out their own investigations. All inclusions and exclusions must be confirmed in the Contract of Sale.
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