22 WATER STREET, Kensington Park SA 5068

BEST OFFERS BY FRIDAY 23RD JANUARY 2026 (UNLESS SOLD PRIOR)

Private inspections are strictly limited to pre-qualified buyers due to the number of tenancies across the site.

RENTAL SUMMARY

• Unit 1 – $400 PW (Fixed to July 2026)
• Unit 2 – $340 PW (Periodic)
• Unit 3 – $400 PW (Fixed to July 2026)
• Unit 4 – $340 PW (Periodic)
• Unit 5 – $395 PW (Fixed to Feb 2026)
• Unit 6 – $400 PW (Periodic)

A STRATEGIC EASTERN-SUBURBS HOLDING – SIX UNITS, ONE TITLE, ENDLESS UPSIDE

Opportunities like this almost never hit the open market.
This tightly held six-pack unit group in Kensington Park represents an exceptional acquisition for investors seeking:
• Strong, immediate rental income
• Minimal vacancy risk
• Future development potential (STCC)
• Long-term land-bank security in a blue-chip suburb

Built in 1971 and constructed from solid brick with a tiled roof, each unit offers a highly rentable floorplan with:
• Separate lounge
• Kitchen/meals
• Two bedrooms
• Bathroom + toilet
• Individual laundry
• Yard/courtyard spaces

The tenant mix is stable, with a combination of fixed and periodic leases. Three are professionally managed, and three have long-term private tenants with excellent history — reducing risk and ensuring predictable income.


Year Built | 1971
Land Size | 1562 m²
Frontage | 32.7m (32.5m rear) m
Block depth | 48.1
Zoning | Suburban Neighbourhood - SN
Local Council | City of Burnside
Easements | Nil (none)
Water Rates - Supply | 82.30 per quarter.
Water Rates - Sewerage | 335.56 per quarter.
ESL | $819.85 yearly
Council Rates | $1707 per quarter.
Strata/Body Corp Rates| N/A

Investors take note: This property is currently leased at U 1/22 $400 PW fixed lease until July 2026 U 2/22 $340 PW periodic lease U 3/22 $400 PW fixed lease until July 2026 U 4/22 $340 PW periodic lease U 5/22 $395 PW fixed lease until Feb 2026 U 6/22 $400 PW periodic lease per week.

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If you don't want to miss your opportunity to view this property and make your interests known, the quickest way to book a viewing and/or make an offer is to submit an enquiry from this site (get in touch button).

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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 nor their Agent can accept responsibility for error or omissions. Interested parties should make their own inquiries and obtain their own legal advice. All inclusions and exclusions must be confirmed in the Contract of Sale.