1-6/31 Bishop Street, Renown Park SA 5008

Best Offer By Monday Dec 2nd 5PM (USP)

6 beds

6 baths

6 parking

6 Units on 1 Title, Offering a Rare Investment Opportunity!

David Paladino and Jeremy Marrollo of National Realty Port Adelaide are excited to present to market, units 1-6 of 31 Bishop Street Renown Park which offers a rare investment opportunity only moments from the Adelaide CBD!

Set on a generous 700m2 Torrens Titled Allotment this complex presents the perfect opportunity for those wishing to secure a rare and long-term investment where they can truly set and forget.
Presently comprising of 6 updated 1-bedroom units, Units 3 & 6 at the rear present additional opportunity to be converted into two bedrooms to further enhance your prospective investment return.

Currently generating an annual return of $90,480.00, this is divided amongst long term tenants broken down as:

- Unit 1: $300.00 per week - Fixed Until October 2025
- Unit 2: $320.00 per week - Fixed until July 2025
- Unit 3: $330.00 per week - Fixed until October 2025
- Unit 4: $300.00 per week - Fixed until February 2025
- Unit 5: $250.00 per week - Periodic
- Unit 6: $240.00 per week - Periodic

Key Features Of This Unit Block Includes:

- Updated Units - Each unit has had their bathrooms and kitchens updated
- Split System Air-Conditioning - Each Unit Features their own split system Air-conditioner
- Private Courtyard - Each Unit Features their own private front courtyard
- Long-Term Tenants: All units are fully rented with long-term tenants , ensuring steady and reliable rental income
- New Hot Water Systems - Each Unit has had a new Hot Water System installed within the past 18 months
- Parking - Each Unit has an allocated parking space
- Only 6km to the Adelaide CBD
- No STRATA applicable

Whether a First-time investment or as an addition to your investment portfolio, this is a city fringe opportunity not to be missed.

Contact David Paladino on 0421 649 255 or Jeremy Marrollo on 0435 882 333 to secure this fantastic opportunity.

Specifications:
CT / 5652/231
Council / City of Charles Sturt
Built / 1968
Land / 700 m2
Council Rates / $1,298 PA
ESL / $ 216 PA

Property Details

• Type: BlockOfUnits
• Bedrooms: 6
• Bathrooms: 6
• Toilets: 6
• Other Parking: 6
• Building Area: 242 m² (approx)
• Land Area: 700 m² (approx)