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

1-6/31 Bishop Street
Renown Park SA 5008

Bedrooms: 6
Bathrooms: 6
Car spaces: 6
Floor area: 242m2
Land area: 700m2
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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
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Property Details for 1-6/31 Bishop St, Renown Park

1-6/31 Bishop St, Renown Park is a 6 bedroom, 6 bathroom BlockOfUnits with 6 parking spaces. The property has a land size of 700m2 and floor size of 242m2. The place is currently for sale with National Realty.

Building Type
BlockOfUnits
Floor Size
242m2
Land Size
700m2

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About Renown Park 5008

The size of Renown Park is approximately 0.6 square kilometres. It has 3 parks covering nearly 8.2% of total area. The population of Renown Park in 2011 was 1,588 people. By 2016 the population was 1,689 showing a population growth of 6.4% in the area during that time. The predominant age group in Renown Park is 20-29 years. Households in Renown Park are primarily couples with children and are likely to be repaying $1000 - $1399 per month on mortgage repayments. In general, people in Renown Park work in a professional occupation. In 2011, 41.9% of the homes in Renown Park were owner-occupied compared with 44% in 2016.

Renown Park has 853 properties. Over the last 5 years, Houses in Renown Park have seen a 79.67% increase in median value, while Units have seen a 84.67% increase. As at 30 November 2024:

  • The median value for Houses in Renown Park is $988,982 while the median value for Units is $573,099.
  • Houses have a median rent of $600 while Units have a median rent of $550.
There are currently 2 properties listed for sale, and 2 properties listed for rent in Renown park on OnTheHouse. According to CoreLogic's data, 29 properties were sold in the past 12 months in Renown park.

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David Paladino
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Jeremy Marrollo
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National Realty
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