5 Drew Street, TWO WELLS, South Australia, 5501

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Sold

Sold for $243,000 (Jun 07, 2019)

1777 SQUARE METERS PRIME FOR DEVELOPMENT - PRICE REDUCTION

Situated in the center of the Two Wells township this unique property has 2 separate zonings, 970m2 is zoned town center (commercial) and 807m2 is zoned residential. Both allotments are on one title. Housing improvement order per Housing Improvment ACT 2016 applies. Rent control set at $55

The existing improvements include a 3 bedroom home, the main bedroom has an ensuite, large lounge, country style eat-in kitchen, family bathroom and an enclosed rear lobby. The home has ducted reverse cycle air conditioning.

Other improvements include a freestanding room, a 6×9 meter shed plus sundry shedding.

With some upgrading and TLC the home may be refurbished and rented out, or you could clear the block and develop it taking advantage of the two different zonings, the town center has a frontage of 18.41 meters and the residential has a frontage of 13.79 meters.

Opportunity knocks with options.

Property Info:

  • Property ID: 18132093
  • Property Type: House
  • Garages: 6

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R&H Suburb Profile: Two Wells

R&H Suburb Summary Houses
Number of sales 58
Average Price $289,016
Median Price $203,000
Median Rental Price $420 p.w.
Change in Rental Rate (5yr) 25 %
R&H Suburb Summary Units
Number of sales 0
Average Price $Infinity
Two Wells, SA - Median Trend