1 Bishop StreetRenown Park SA 5008
Property Details for 1 Bishop St, Renown Park
1 Bishop St, Renown Park is a 6 bedroom, 6 bathroom House and was built in 1985. The property has a land size of 435m2 and floor size of 111m2. While the property is not currently for sale or for rent, it was last sold in May 2023.
Last Listing description (September 2024)
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 History for 1 Bishop St, Renown Park, SA 5008
- 05 Sep 2024Listed for Sale Auction Sat Sept 21st 3:00pm On-Site (USP)
- 09 May 2023Sold for $668,500
- 28 Mar 2023Listed for Sale SOLD
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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 76.54% increase in median value, while Units have seen a 77.03% increase. As at 31 July 2024:
- The median value for Houses in Renown Park is $956,330 while the median value for Units is $545,597.
- Houses have a median rent of $560 while Units have a median rent of $475.
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