House for Sale

5, 7-9 Palmyra Avenue Torrensville, SA 5031

Expressions of Interest
  • 8 Beds
  • 3 Baths

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House for Sale in Torrensville

Superior Space in Prime Position!

  • 8 Beds
  • 3 Baths

Perfectly positioned just 5 minutes from the airport, 10 minutes to the city and 12 minutes to the beach exists this sensational 3,487sqm combined land of opportunity. In a high demand market area zoned "urban corridor transit living policy area 36" which allows 4 storey dwellings give you an exciting investment for exceptional returns!
http://www.westtorrens.sa.gov.au/Building_planning/Buying_a_property/Zoning

Growth in the area has done well for investors with the past quarterly growth for units at 9.11% and past 12-month growth at 18.08%. The annual growth has been 4.91% and the gross rental yield for units in the area has been 3.86% (information sourced from http://www.yourinvestmentpropertymag.com.au/top-suburbs/sa-5031-torrensville.aspx)

Featuring two adjacent properties for sale with a combined frontage of approximately 57m and absolutely no easements for maximum potential, property details are as follows:

7-9 Palmyra:

  • 38m (approx) frontage.
  • 66m (approx) depth.
  • 2,567sqm (approx) total area.
  • Existing Return Verandah Villa boasting 5 bedrooms with additional self contained accommodation for instant returns.

5 Palmyra:

  • 19m (approx) frontage.
  • 46m (approx) depth.
  • 920sqm (approx) total area.
  • Existing 1956 built, 3 bedroom home + detached studio above garage for instant returns.

New Development Plans (STCC):

  • Approval granted for demolishing existing dwelling on 7-9 Palmyra.
  • Plans developed for 24 Lots with modern 3 bedroom town houses (STCC).
  • 7/24 Lots for double garage, 2 storeys, 3 bedroom homes.
  • 12/24 Lots for Single garage, 3 storeys, 3 bedroom homes.
  • 5/24 Lots for Single garage, 3 storeys, 3 bedroom homes with rooftop garden.
  • 10x visitor parking bays.
  • Capacity for much higher density dwellings within council zoning parameters.

This fantastic opportunity exists within a key residential site surrounded by established homes. This popular location with shops, schools and public transport in close proximity combined with a modern development plan for profit maximisation is one in a million.

Call Mike Lao for further enquiries!

Council / City of West Torrens
Built / 1912 & 1956
Land / 3,487sqm (approx)

Disclaimer: Every care has been taken to verify the correctness of all details used in this advertisement. However no warranty or representative is given or made as to the correctness of information supplied and neither the owners nor their agent can accept responsibility for error or omissions.

Land:

3,487m² / 0.86 acres

Bedrooms:

8

Bathrooms:

3

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Suburb

Torrensville

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