42 Stephen Terrace, St Peters, SA 5069

A rare offering in one of Adelaide's most tightly held suburbs, this 680sqm corner allotment at the intersection of Stephen Terrace and Sixth Lane presents exciting potential for investors, developers, or future homeowners alike, all on one title. 

Currently configured as three separately metered, solid brick two-bedroom units under a single title, the property offers a flexible and income-generating layout. Each unit includes a spacious open plan living area, functional kitchen, private laundry, bathroom, and individual garages or carport. Enjoy dual street frontage with convenient access via Sixth Lane and a high-profile presence on Stephen Terrace. 

Unit 1 Current Rental Return: $470 per week   Lease End Date: 19/12/25 
Unit 2 Current Rental Return: $435 per week   Lease End Date: 20/01/26 
Unit 3 Previous Rental Return: $455 per week   Lease End Date: Currently vacant 

Current Gross Rental Income: $70,720 per year 
Potential Gross Rental Income: Approx $80,000 per year

For savvy investors, rental reviews to bring in line with current market rates of approx $510 per week are just around the corner and there is the opportunity to rejuvenate the kitchen and bathroom to add instant capital value and boost investment income. Alternatively, as the units are in good original condition, you can relax and reap the rental returns, capital growth and land bank for future development opportunities.

This location offers unrivalled proximity to premium schools, walking trails, boutique shopping, and just minutes from the Adelaide CBD. 

Whether you're seeking steady returns, an investment with upside potential, or the perfect site to build your dream home, this versatile property delivers on location, land size, and opportunity.

Total site area: 680sqm (approx.) 
Water Rates each unit: $102.65 quarterly 
Council Rates each unit: $328 quarterly