Upcoming Inspections // Thursday 3rd April 11:00am - 11:30am // Thursday 10th April 11:00am - 11:30am
*Price Guide -The property is being offered by way of public auction. No price guide will be given under the vendors' instruction, however recent sales data will be provided upon request via email and at the open inspections*
An out-of-the-box opportunity for the curious project buyer, investor or astute developer in the form of a unique unit complex on the coveted inner-western city fringe, with three extra-versatile bonuses.
The property offers six one-bedroom and one 3 bedroom unit and rare in such an offering, the inclusion of three large, individual storerooms - secure, separate, and ideal for a multitude of uses: one previously utilised as a music studio. and the other for storage and office use.
Together, it suggests a potentially lucrative return on investment for those with vision, ambition and purpose.
Each basic yet functional home unit varies in style, aspect, and internal modifications, giving the buyer flexible licence to renovate, remodel, or create up to two or three bedrooms within each spacious design.
With a shared communal quadrangle, each unit is allocated a carpark - the master unit is allocated two - while the two downstairs units are granted small fenced front gardens.
At its core, 3 Wainhouse Street is an extremely rare commodity, offering walkable proximity to a vibrant mix of retail, dining, transport, and services, attracting a diverse tenant base or serving as a multi-generational, all-inclusive residence with outstanding potential.
What to expect:
Storeroom 1 - opens to a tiled foyer, a main storage area, and a utility room.
Storeroom 2 - used as a music studio, it has a wall of functional benchtops & joinery.
Storeroom 3 - is a large, powered shed with galvanised roofing.
Master unit and unit 3B, 3C, 3D, 3E & 3F feature open plan eat-in kitchens with a freestanding electric cooker, built-in robes to each bedroom, split system R/C or a wall A/C, & a basic combined bathroom/laundry.
Master Unit features a 2nd WC & a separate bathroom.
2 downstairs units have fully fenced front courtyards.
All units access the shared bitumen driveway to a common carpark area.
All units are allocated 1 undercover carpark | The master unit (Unit 1) has 2 carparks.
The master unit features 3 robed bedrooms, separate meals & living spaces, & a separate 2nd WC.
A bin storage area is beside the meter hub.
Current Income is @ $144,092 Per Annum (approx) - With unit 3A currently vacant for marketing purposes
Potential income for the 7 units & 3 store rooms is $167,492 (approx) per Annum with the storerooms previously leased for $165 per week each.
Expenses
Council Rates - $6,850 Per Annum
SA Water / Sewerage - $985 Per Annum
Emergency Services Levy - $206 Per Annum
5031 | Torrensville in Focus:
Edging the prized character suburbs of Thebarton and Mile End, Torrensville's high-demand status shows no signs of slowing. Sought for its seamless transport links via South and Henley Beach Roads to the city or the beach, it's a multicultural hub brimming with dining, retail, and lifestyle appeal.
Framed by beautifully restored villas and turn-of-the-century homes, the inner-west also attracts investors for its good balance of strata units - well supported by students, singles, young families and professionals reaching out to popular schools and city universities.
*We make no representation or warranty as to the accuracy, reliability or completeness of the information relating to the property. Some information has been obtained from third parties and has not been independently verified.*
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