12 Faehse Street, Modbury, SA 5092

$780,000. Best offers by 5:00pm, Monday 16th December 2024 (unless sold prior).

An unbeatable opportunity for the astute investor, developer or buyer seeking a large family home.

This property produces enviable financial returns, rented as a professionally-managed boarding house with a fully let income of $1,235 per week / $64,220 per annum.

Add a block of land with a 19.05 metre street frontage and a 'Housing Diversity Neighbourhood' zoning and you also have potential for an exciting, multi-dwelling re-development project (subject to necessary consents), producing fantastic holding income while you finalise your plans.

THE RENTAL:

- 6 income streams with bedrooms let under separate rooming agreements

- 6 x let rooms produce income of $1,235 per week / $64,220 per annum

- Landlord is responsible for the payment of outgoings

- Common areas are shared by all tenants

- Managed by a licenced real estate agent

THE LAND:

- 19.05m frontage x 36.57m depth = 697sqm (approx.)

- Housing Diversity Neighbourhood (HDN) zoning

- Rectangular shape

- No easements

THE LOCATION:

- Away from the main roads and surrounded by established, residential properties

- Within a 15 minute walk of Tea Tree Plaza shopping, the O'Bahn Interchange and Modbury Hospital

- 3 primary schools (Modbury South, Modbury West and Modbury) within 2km

- Zoned for Modbury High School - 1.5km away by road

THE HOME:

Venture beyond the leafy front garden and be pleasantly surprised when you step inside this neat and tidy home, well looked after by its current residents. A separate entry hall leads into the living hub - a formal lounge which opens onto a dining area and a very generous timber kitchen, complete with dishwasher, dual sinks and an abundance of cupboards.

There are three bedrooms downstairs, all comfortably proportioned and convenient to the downstairs bathroom which has bath and shower facilities (toilet separate). Upstairs there are three additional bedrooms, serviced by the tastefully renovated second bathroom. Split system and ducted evaporative air conditioning as well as solar panels are also noteworthy features of the home.

Outside, a double-length roller door carport ensures ample vehicle accommodation, with additional driveway space allowing further off-street parking. Another bonus is a brick rumpus room, perfect for use as a studio, recreation room or workshop, while the rear verandah is ideal for summer entertaining, overlooking a private back garden complete with fruit trees and other mature plantings.

Registered Land Agent (RLA) 266 854.

While care has been taken to ensure information provided is accurate and correct, we do not guarantee the information or take responsibility for any inaccuracies. Interested parties should therefore make their own inquiries to verify the information.