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CHARACTER ASSET WITH INCOME, APPROVAL AND STRATEGIC UPSIDE
Penfield Gardens
· 4 Bedrooms · 3 Baths · House
Penfield Gardens · 4 Bedrooms · 3 Baths · House
Available individually or together with Allotment 2, 49 Adelaide Road, Gawler South Positioned along Adelaide Road, one of Gawler's most prominent arterial corridors, this is a rare opportunity to secure a character-rich asset combining immediate income, planning approval, and longer-term strategic flexibility. The property comprises three self-contained units within an extended stone residence, currently fully leased and generating approximately $50,000 per annum. The mix of two one-bedroom units and one two-bedroom unit provides diversified income across multiple tenancies, reducing vacancy exposure and supporting consistent cash flow. Beyond its current residential use, the property benefits from an existing approval for tourist accommodation (DA 748/2003). The asset has previously operated in this capacity across all three units, achieving gross income of up to approximately $4,200 per week at peak operation. This establishes a proven alternative income pathway for buyers seeking t
Available individually or together with Allotment 2, 49 Adelaide Road, Gawler South Positioned along Adelaide Road, one of Gawler's most prominent arterial corridors, this is a rare opportunity to secure a character-rich asset combining immediate income, planning approval, and longer-term strategic flexibility. The property comprises three self-contained units within an extended stone residence, currently fully leased and generating approximately $50,000 per annum. The mix of two one-bedroom units and one two-bedroom unit provides diversified income across multiple tenancies, reducing vacancy exposure and supporting consistent cash flow. Beyond its current residential use, the property benefits from an existing approval for tourist accommodation (DA 748/2003). The asset has previously operated in this capacity across all three units, achieving gross income of up to approximately $4,200 per week at peak operation. This establishes a proven alternative income pathway for buyers seeking t
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