Kurralta Park SA 5037

Ray White Glenelg | Plympton is proud to present a rare offering that will be sure to get builders, developers, investors or renovators captivated.

Urban Corridor Zone (Boulevard Policy Area 34) provides huge flexibility with the ability to allow multi-level redevelopment. The expansive dimensions of this unique 2,224m2 (approx.) corner allotment are perfectly matched by its prime location, exceptional scope, existing improvements and significant rental income potential.

For the investor, there are 16 x fully furnished one bedroom units (each of which are individually strata titled) currently occupying the site. Ray White Glenelg | Plympton have appraised the units at $250/week each (or over $208,000/yr) - an exceptional return.

The prime location is the major advantage. At less than 5kms from the Adelaide CBD, the well-established Kurralta Park is perfectly positioned between the city and the sea and well serviced by bus and rail services. It's also located right next door to the Kurralta Park shopping precinct and within close proximity to a network of quality schooling, retail and entertainment options. Not to mention Ashford hospital and the 43,000 cars that drive down Anzac Highway everyday.

Highlights of the property:

• 2,224m2 of prime land
• High growth area
• Less than 5km to the Adelaide CBD
• Zoned for medium-high density development
• Existing 16 x one bedroom units (each individually strata titled)
• Current high yielding rental return
• Walking distance to shops, public transport, schools and medical facilities
• Easy access to Adelaide Airport, Glenelg Beach and the North-South Corridor via Marion and South Roads

CT / Vol / Fol / x 16 titles

Year built / 1961 & 1964
Land Area / 2224 sqm (approx.)
Council / City of West Torrens
Title / Strata
Council Rates / TBA
Water & Sewer / TBA
ESL / TBA

*Disclaimer: Financial and Investment Advice - you should assess the suitability of any purchase of the land or business in light of your own needs and circumstances by seeking independent financial and legal advice. https://bit.ly/2Mso8g5