1 to 6/68 Rose Street, Prospect, SA 5082 - More Details
Auction
Estimated gross rental income potential of $160,680 per annum.
An entire block of six residences on one Torrens title represents a rare opportunity to secure a substantial investment in Prospect, combining multiple potential income streams, approximately 813m2 of land and an established inner northern address.
Four units are currently leased, generating a combined gross rental income of $2,060 per week. Units 1 and 6 are vacant and were previously rented at $530 and $500 per week respectively. Based on the existing rents and those previously achieved for the vacant units, the estimated combined gross rental income at full occupancy is $3,090 per week, equivalent to approximately $160,680 per annum. This estimate assumes all six units are leased for 52 weeks at those amounts, is before outgoings and ownership costs, and is not guaranteed.
Positioned across two levels, the property comprises four two bedroom units and two one bedroom units, with three residences on each floor. The accommodation totals 10 bedrooms and six bathrooms, complemented by six car spaces.
The approximately 813m2 allotment has an approximate frontage of 18.29 metres and depth of 44.50 metres. Holding the complete group on one title gives purchasers control of the entire property, with the opportunity to investigate future development potential while receiving income from the existing tenancies. Any future development, subdivision or change of use is subject to council consent and all other required approvals.
For investors seeking rental income and a long term landholding, this offering combines four established tenancies with the opportunity to lease the two vacant units. Complete residential groups of this scale on one title are uncommon, adding to the appeal of this Prospect investment.
• Entire block of six units on one Torrens title
• Four units currently leased, generating $2,060 per week in combined gross rent
• Two vacant units, previously rented at a combined $1,030 per week
• Estimated gross rental income potential at full occupancy of $3,090 per week or $160,680 per annum, based on existing and previous rents
• Four two bedroom units and two one bedroom units
• Three ground floor residences and three upper floor residences
• Six bathrooms and six car spaces in total
• Approximately 355m2 of total floorplan area, comprising 314m2 of living area and 41m2; of verandah and balconies
• Approximately 813m2 of land with an approximate 18.29 metre frontage
• Established Neighbourhood zoning
• Opportunity to investigate future development potential, subject to council consent and all required approvals
• Tenants pay water usage and supply charges, subject to the relevant lease terms
• Vendor commitment to complete all remaining required Fire Safety Notice works before settlement, as detailed in the information memorandum
The Prospect Area:
Prospect combines established residential streets with convenient access to local shops, dining and the city. Prospect Road's cafes, restaurants and independent businesses sit alongside Palace Nova cinema, while nearby supermarkets cater to everyday needs.
Prospect Primary School, Rosary School and Blackfriars Priory School are within the surrounding area, with parks and community spaces contributing to the neighbourhood's appeal. Churchill Road bus services provide public transport options, while North Adelaide and the CBD offer further dining, employment and entertainment destinations.
Property Details:
• Property type: Entire block of six units
• Title: Torrens Title
• Total floorplan area: Approximately 355m2 including verandah and balconies
• Living area: Approximately 314m2
• Verandah and balconies: Approximately 41m2
• Year built: Approximately 1972
• Land size: Approximately 813m2
• Frontage: Approximately 18.29m
• Depth: Approximately 44.50m
• Zoning: Established Neighbourhood
• Council: City of Prospect
• Council rates: Approximately $7,338 per annum
• Emergency Services Levy: Approximately $349 per annum
• Water supply charges: Approximately $352 per annum
• Sewerage charges: Approximately $1,393 per annum
• Strata levies: Not applicable, held on one Torrens title
Please call Sam Brincat on 0404 004 611 or Chris Yapp on 0423 787 543 for the information memorandum and further details.
Ray White St Peters RLA 328740
Disclaimer:
Information has been compiled from vendor and third party sources and is provided as a general guide. All areas, dimensions, dates and outgoings are approximate and subject to independent verification. Four units are currently leased and two are vacant. Estimated rental income at full occupancy includes the previous rents for the vacant units, assumes 52 weeks of occupancy and does not represent current income or a guaranteed future return. Gross rental figures are before outgoings and other ownership costs. Any future development, subdivision or change of use is subject to council consent and all other required approvals. Purchasers should inspect the property, review the information memorandum, Fire Safety Notice, title, leases, Form 1 and contract documentation, and obtain independent advice before purchasing.
- Type
- Block Of Units
- Bedrooms
- 10
- Bathrooms
- 6
- Parkings
- 6
- Area
- 813 m²
- House Size
- 355 m²
