15/15A Prunus Avenue, Elizabeth Vale, SA 5112

This is a rare opportunity to secure a flexible dual-income property with excellent future development potential. Situated across two titles and offering a combined land size of approximately 1,909m², this unique property includes a spacious family home and a fully self-contained studio apartment - both currently tenanted and returning a combined $800 per week.

This is a rare opportunity to secure a high-yielding investment with excellent future development potential. Situated across two titles and offering a combined land size of approximately 1,909m², this unique property includes a spacious family home and a fully self-contained studio apartment - both currently tenanted and returning a combined $800 per week.
Whether you're an investor looking to expand your portfolio, a developer seeking your next project, or a buyer searching for a versatile property with space to grow, this opportunity ticks all the boxes.

Main Residence
• The main home is well-sized and functional, offering:
• Three generous bedrooms, plus a separate study that could easily serve as a fourth bedroom
• Spacious living and dining areas with natural light
• Functional kitchen and bathroom, with potential to renovate and add value
• Currently leased at $510 per week, providing reliable income
• In mostly original condition - solid bones and ready for a refresh

Studio Apartment
• Set apart from the main home and separated by a central carport, the studio offers:
• Open-plan layout combining bedroom, living, dining, and kitchen
• Private separate bathroom
• Fully fenced for privacy from the main home
• Currently leased at $290 per week, with stable long-term tenants

The Land & Future Potential
• Total land area of approx. 1,909m² across two titles
• Approx. 870m² of untouched, underutilized land at the rear of the property
• Endless possibilities: potential to subdivide, build an additional dwelling, expand the current homes, or create a private lifestyle retreat (STCA - Subject to Council Approval)
• Plenty of room for additional sheds, parking, gardens, or further development - the space is yours to imagine• 

Why You'll Love It
• Dual-income stream with solid rental return
• Two separately fenced dwellings, ideal for tenants or multi-generational living
• Substantial block with development upside (STCA)
• A large, level block with room to move, invest, and grow
• Strong rental demand in the area
• Opportunity to increase value through renovation or redevelopment

This property is the kind of opportunity that doesn't come along often - income now, potential later, and plenty of space in between. Whether you're looking to renovate, develop, or simply hold a high-performing asset in a growing area, this one delivers on all fronts.


Main House Year Built: 1973
Studio Apartment Year Built: 1980
Land Size:  1909m2 approx.
Total Living: 273m2 approx.
Certificate of Title: 500/58 & 500/59
Local Council: City of Playford
Council Rates: $3,692
Zoning: Residential 
Rental Appraisal: 

Disclaimer:
This advert contains information and imagery which is believed to be accurate based on our sources and/or inspections of the property before or at the time of advertising. Prospective purchasers or other parties should make their own enquiries about the validity and accuracy of this information and view the property before making any purchasing decisions. RLA 237185