6 Moore Street, Prospect, SA 5082

Step into a unique investment opportunity that offers both immediate returns and long-term growth. This property is established as a dual-income asset, designed for investors seeking a reliable income stream with excellent upside potential.

FRONT HOUSE (6 Moore Street)

This beautifully preserved 1920s bungalow is currently vacant, making it ready for immediate occupation should you wish to move in or lease it out. Featuring three spacious bedrooms, a formal lounge, and an eat-in kitchen, it provides plenty of room for family living. The design and character of this home reflect the craftsmanship of its era, while offering plenty of scope for modern updates should you choose to add value. For those looking to lease, the front house is perfectly positioned to attract quality tenants, and when tenanted, the carport is exclusively allocated to the main house for added convenience.

REAR FLAT (6A Moore Street)

This self-contained two-bedroom unit has been leased to a wonderful tenant who has shown exceptional care for the property. The open kitchen and meals area make for a light and airy living space, while the separate bathroom and external laundry ensure a comfortable and private experience for the tenant. The property is currently leased to May 2025 returning $295 per week. The weekly rent is slightly under the market rate, but it is balanced with a dedicated, responsible tenant already in place, earning you an income-producing asset from day one.

The shared rear yard is well-maintained by a regular gardener, offering a tidy and appealing outdoor space for both the front house and rear flat residents. Both properties are metered separately for power and water usage. Each property has separate fibre NBN connectivity.

This dual-income setup allows for flexibility ? whether you choose to occupy the front house and continue leasing the back flat, or you decide to rent both spaces for maximum return, this property provides the versatility that is so sought after in today?s market.

Indicative rental returns suggest the front house could generate $575 per week, while the rear flat offers a potential rental income of $375 per week. This provides an estimated annual yield of approximately 4%, along with strong potential for capital growth in the dynamic, well-connected suburb of Prospect, known for its proximity to the city.

Nearby schools include Prospect North Primary, Prospect Primary, Nailsworth Primary, Rosary, Blackfriars & zoned to Adelaide & Adelaide Botanic High Schools.

SPECIFICATIONS:

CT // 5741/145

Zone // Established Neighbourhood

Land // 583sqm

Council // City of Prospect

Council Rates // $2,622.10 per annum

SA Water // $253.54 per quarter + usage

ESL // $212.90 per annum

Tenancy // 6A currently leased to 02/05/25 at $295pw

DB Philpott is proud to service the local area and if you are thinking of selling you should give the team a phone call to arrange a free no obligation market opinion.

The property is being offered to the market by way of Auction, unless sold prior. At this stage, the vendors are not releasing a price guide to the market. The agent is not able to guide the market or influence the market in terms of price instead providing recent sales data for the area which is available upon request via email or at the open inspection.

The Vendor's Statement (Form 1), the Auction Contract and the Conditions of Sale will be available for perusal by members of the public - at the office of the agent for at least 3 consecutive business days immediately preceding the auction; and at the place at which the auction is to be conducted for at least 30 minutes immediately before the auction commences.

Please note that any offers submitted prior to Auction will be under Auction conditions. It is the Purchaser's responsibility to seek own legal advice and a Form 3 Cooling-Off Waiver.

If a land size is quoted it is an approximation only. You must make your own enquiries as to this figures accuracy. DB Philpott does not guarantee the accuracy of these measurements. All development enquiries and site requirements should be directed to the local govt. authority.

Purchasers should conduct their own due diligence and any information provided here is a guide and should not be relied upon. Development is subject to all necessary consents.

You should assess the suitability of any purchase of the land or business in light of your own needs and circumstances by seeking independent financial and legal advice.

RLA 46442