6/2 Ferguson Street, Glenelg North SA 5045

2-bed flat, Glenelg North | 1970s build, compact lot | 2-bed, 1-bath, garage | Strong rental yield potential | Near schools, stable renter mix This unit offers a rare entry point into Glenelg North’s market at a significant discount to the suburb’s $638k median for two-bedroom units. Its small footprint and 1970s construction mean lower purchase price and council rates, which directly improves net rental return-the $490 weekly estimate represents a gross yield near 5.2%, well above Adelaide averages. The 55% renter profile on Ferguson Street signals consistent tenant demand, and the property sits outside flood, bushfire, or heritage overlays, reducing holding complexity. It suits an investor seeking cash flow over capital growth, or a first buyer wanting affordable beachside access with decent school catchments. The main risk is the land size discrepancy-9m² on title versus 64m² elsewhere suggests limited future redevelopment value, capping long-term appreciation. The 1970 build may need updating, and the 53m² floor area restricts owner-occupier appeal. However, the 2019 purchase at $237k to a current $485k estimate shows solid price recovery, and the 42 sales in Glenelg North this year confirm liquidity. Buy for rental income, not land banking, and hold for steady cash flow rather than flipping.