38 Lancaster Avenue
Parafield Gardens, SA 5107

This property represents a unique opportunity for investors, developers, and land-bankers seeking a prime acquisition in the highly desirable area of Parafield Gardens. Situated on a substantial allotment of approximately 737 square meters, the site boasts a commanding frontage exceeding 18 meters, making it an ideal candidate for a multi-dwelling subdivision, subject to council consent.

Equipped with a high-specification solar infrastructure, the residence features a 6.6 kW solar system complemented by a premium Fronius inverter. This advanced setup significantly reduces electricity costs, providing a sustainable advantage for future occupants or a considerable lifestyle benefit for current residents.

The property offers immediate cash flow and strong rental yields, currently tenanted at $1,300 per fortnight, equating to $650 per week. This 'set-and-forget' asset alleviates the usual carrying costs associated with development sites, allowing investors to secure planning approvals while the property pays for itself.

Key features of the property include:

• A development-ready allotment of 737 square meters with an expansive frontage of over 18 meters, facilitating seamless subdivision designs and maximizing block yield, subject to council approval.
• A spacious internal layout comprising four functional bedrooms and a dual-car garage, ensuring strong long-term tenant appeal.
• Premium infrastructure with no complex government overlays, flat topography, and reliable NBN HFC connectivity.
• An unbeatable location with close proximity to Parafield Gardens High School, local primary schools, commuter train lines, and major retail centers.

The location is highly sought after, with properties of this scale becoming increasingly scarce in Parafield Gardens. Whether the intention is to hold the property for steady rental income or to subdivide and capitalize on the growing demand for new homes in Northern Adelaide, this address offers a strategic advantage for any portfolio.

Prospective purchasers are advised to conduct their own enquiries to verify the information provided, as all efforts have been made to ensure accuracy but no responsibility is accepted for any errors or omissions.