OFF MARKET

740 Grand Boulevard
Seaford Meadows SA 5169

Bedrooms: 2
Bathrooms: 1
Car spaces: -
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Last updated 14 Oct 2024
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Property Details for 740 Grand Bvd, Seaford Meadows

740 Grand Bvd, Seaford Meadows is a 2 bedroom, 1 bathroom Unit.

Building Type
Unit
Local Government
Onkaparinga

Last Listing description (December 2022)

Fully Leased New Seaside Apartments

Strong Investment Fundamentals


Substantial Depreciation Allowances

This investment property comprises of 12 fully Leased brand new apartments, 8 two bedrooms and 4 single bedrooms, each with an undercover car park. The demand in Seaford Meadows is strong with 44% of the population renting and as a result less than 1% vacancy.

Completed in 2020 the property has substantial depreciation benefits. The current gross income is estimated at $178,880 and this will have a corporate guarantee for 5 years from the developers Buildtec Group. The property will also have an extended Builders Warranty for 5 years.

South of the city, Seaford Meadows is one of the newer suburbs within Metropolitan Adelaide. This property is 1.5km from the beach, 200m from Seaford Meadows Shopping Centre, 50m from the bus stop, 600m from the train station, 4.5km from the M2 Southern Expressway, 35km from Adelaide CBD (35 minute drive) and 7km from the McLaren Vale Wine District.

- An investment with significant depreciation

- Substantial tax free income

- Current gross income - $178,880

- 12 brand new quality apartments constructed by Buildtec in popular growth suburb

- Strong rental market 44% of local population rent - local vacancy less than 1%

Joint Agent:
24Capital
Nick Loan - 0412 843 566
RLA 302617

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Property History for 740 Grand Bvd, Seaford Meadows, SA 5169

A timeline of how this property has performed in the market
  • 28 May 2020
    Listed for Sale Contact Agent

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About Seaford Meadows 5169

The size of Seaford Meadows is approximately 3.1 square kilometres. It has 25 parks covering nearly 53.6% of total area. The population of Seaford Meadows in 2011 was 1,650 people. By 2016 the population was 3,847 showing a population growth of 133.2% in the area during that time. The predominant age group in Seaford Meadows is 0-9 years. Households in Seaford Meadows are primarily couples with children and are likely to be repaying $1400 - $1799 per month on mortgage repayments. In general, people in Seaford Meadows work in a trades occupation. In 2011, 64.6% of the homes in Seaford Meadows were owner-occupied compared with 54.2% in 2016.

Seaford Meadows has 2,306 properties. Over the last 5 years, Houses in Seaford Meadows have seen a 87.99% increase in median value, while Units have seen a 75.68% increase. As at 30 September 2024:

  • The median value for Houses in Seaford Meadows is $765,457 while the median value for Units is $582,207.
  • Houses have a median rent of $550 while Units have a median rent of $510.
There are currently 6 properties listed for sale, and 4 properties listed for rent in Seaford meadows on OnTheHouse. According to CoreLogic's data, 114 properties were sold in the past 12 months in Seaford meadows.

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