Two-for-one townhouse deal in Lightsview has investors ready to get bidding at auction next month
News Corp Australia Network
With an annual turnover of more than $63,000, a two-for-one deal is proving popular with investors looking to capitalise on Adelaide’s growing rental yield.
Set on one title and owned by renowned Adelaide sculptor Michael Schriever, 5 Waterford Circuit, Lightsview, has been listed with a price guide of $1.357m and will be sold under the hammer next month.
The sale encompasses two, two-storey townhouses, which are currently leased for around $600 a week.
However, future rent returns could vary between $625 to $675 per week, with Lightsview’s rental yield tracking at 4.48 per cent, according to PropTrack.
Property prices are also on the up, with houses now selling for an average of $615,000, 13.1 per cent more than they did a year ago.
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Selling agent Josh Hunt, of Belle Property Unley, said his phone had been ringing off the hook since the listing first came to the market last week.
“A good indication, for most real estate agents on whether a property is going to do well, is whether you get a call within a couple of hours of listing,” he said.
“I’m not saying my phone has been ringing red hot but I did get quite a few calls, which is always a good sign as it means there are buyers that are watching the market.
“Units and blocks of units, at the moment, are red hot, with many buyers looking at them because of the rental yield and with this one here, there’s good depreciation for most investors as they are still quite new.”
Mr Hunt said both homes had been constructed by the vendor who capitalised on his arts background when designing the home.
“You go to most homes these days and you look at, for example, the door frame and you’ll notice that they will have been made from different bits of wood,” he said.
“But the door frames in these homes are made from one piece of wood, so the quality of the home is not something you find anywhere.
“The homes are on another level because the vendor happens to be a master builder and an international sculpture.”
Comfort has been put at the forefront of both homes, with each townhouse encompassing open-plan living spaces, a fireplace and access to two balconies.
A spacious master bedroom with an ensuite is also set on the top floor.
Two more bedrooms, with access to a shared bathroom, are located on the ground floor.
There’s also a second living space, a courtyard and a two-car garage.
Mr Hunt said he anticipated plenty of action at the property’s auction next month.
“It should be a good one as you’re essentially buying two houses,” he said.
“But of course, you could put the paperwork through (with the council) to get them put on separate titles, so you can sell one off if needed.
“There’s a lot of scope there.”
The property will be auctioned at noon on June 16.