Sold
Last Asking Price - $599,000-$639,000
16 Rosemary Terrace, Morphett Vale SA 5162
House
424
Block size: 711 m² approx.
5.2% Gross Return with lease in place ($32,240pa) until March 2026.
Zoned Housing Diversity Neighbourhood (HDN), The opportunity is rare to be able to have a secure tenant and 5.2% (based on a $620,000 purchase price) gross rental return whilst lodging development applications. Refer to www.sappa.plan.sa.gov.au for development requirements. Deemed-to-Satisfy (DTS) and Performance Outcomes (PO) opportunities with possible reductions up to 20% on created allotment sizes after concessions under the Affordable Housing Scheme-Performance Outcomes (PO) and Deemed-to-Satisfy (DTS) Criteria / Designated Performance Feature (DPF)
This exceptional opportunity to acquire a corner allotment, with a dwelling in the heart of Morphett Vale is not to be missed. The 4-bedroom, 2-bathroom residence, built circa 1972, is nestled on a generous 711 sqm allotment, offering a perfect blend of comfort and practicality. Featuring a 3-car garage, ample street parking, and a tranquil, private backyard—complete with a shed—that promises serene relaxation and delightful family gatherings.
The property has a long-term tenant with a fixed-term lease in place until March 2026 with a weekly rent of $620/week providing a gross return of 5.2% with the tenant maintaining the property and any *maintenance requirements during the lease. Of note the tenant will, when written into the tenancy agreement with the purchaser, allow subdivision/development if requested. *subject to requirements within the Residential Tenancies Act 1995. *The purchase Contract will meet the requirements of all parties conducive.
Whether you're a developer or investor, this property is designed to meet a variety of needs. Its prime location is especially appealing for families or individuals seeking a lifestyle that balances suburban tranquility with the convenience of having shops, schools, and recreational facilities within close proximity. The sought-after zoning of Housing Diversity Neighbourhood-HDN zone supports a diverse range of development options.
**This property is not suitable for owner-occupiers as there is a lease in place until MARCH 2026**
To view your next investment or development opportunity contact Simon Paterson and Vin Sharma on 0883811111.
Features include: Air conditioning
This exceptional opportunity to acquire a corner allotment, with a dwelling in the heart of Morphett Vale is not to be missed. The 4-bedroom, 2-bathroom residence, built circa 1972, is nestled on a generous 711 sqm allotment, offering a perfect blend of comfort and practicality. Featuring a 3-car garage, ample street parking, and a tranquil, private backyard—complete with a shed—that promises serene relaxation and delightful family gatherings.
The property has a long-term tenant with a fixed-term lease in place until March 2026 with a weekly rent of $620/week providing a gross return of 5.2% with the tenant maintaining the property and any *maintenance requirements during the lease. Of note the tenant will, when written into the tenancy agreement with the purchaser, allow subdivision/development if requested. *subject to requirements within the Residential Tenancies Act 1995. *The purchase Contract will meet the requirements of all parties conducive.
Whether you're a developer or investor, this property is designed to meet a variety of needs. Its prime location is especially appealing for families or individuals seeking a lifestyle that balances suburban tranquility with the convenience of having shops, schools, and recreational facilities within close proximity. The sought-after zoning of Housing Diversity Neighbourhood-HDN zone supports a diverse range of development options.
**This property is not suitable for owner-occupiers as there is a lease in place until MARCH 2026**
To view your next investment or development opportunity contact Simon Paterson and Vin Sharma on 0883811111.
Features include: Air conditioning
Inspections
No open inspections scheduled.
Send an enquiry
Contact Simon Paterson to learn more about this property, request an inspection or take an online tour.
Key details
Bedrooms:
4
Bathrooms:
2
Garage Spaces:
4
Property type:
House
Block Size:
711 m²*
Other Details
Plan Type:
D
Plan:
7107
Parcel Type:
A
Parcel:
30
Legal description:
D/7107/A/30
Maps and area information
Block information
Block size: 711m² (approx)
Legal description: D/7107/A/30
Measurements are estimates only and based on data provided under licence from
© PSMA Australia 2024.
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A block's planning zone defines how that land can be used and what can be built on it.
A right to use a part of land owned by another person for a specific purpose. The most common forms of easements are for services, such as water, electricity or sewerage.
The value of a block of land without any buildings, landscaping, paths, or fences. This is different to the block's market value. A block's unimproved value is used to calculate rates and land tax charges.
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Property history
You don't need a time machine, we've built one for you. Research this property's past sales on the timeline below.
24 Apr 2024
Sold
Paterson RE
Listed: 21/02/2024
Block size: 711m²
Transfer type: Full transfer
24 Apr 2024
Sold
Paterson RE
Listed: 21/02/2024
Block size: 711m²
Transfer type: Full transfer
Morphett Vale suburb information
A little bit about who lives locally, as provided by government census data
SummaryMedian sales
Average Age
42 years
Population
24,002
Listing ID: 182317000. This listing has been viewed 11 times. It was first displayed on 21/02/2024 and last updated on 24/04/2024.
Allhomes acknowledges the Ngunnawal people, traditional custodians of the lands where Allhomes is situated. We wish to acknowledge and respect their continuing culture and the contribution they make to the life of Canberra and the region. We also acknowledge all other First Nations Peoples on whose lands we work.
"With open hearts and minds, together we grow." artwork by David Williams of Gilimbaa.