29A Lurline Street, Mile End SA 5031

Large 1920s duplex on 418sqm | strong parking for inner-west | no overlay constraints | established owner-occupied street | 3.0% yield signals price caution The buying case rests on the combination of a generous 418 square metre land holding with four car spaces in a tightly held inner-west Adelaide street, where comparable sales on Lurline Street confirm the price point is grounded. The 1920 build offers character stock that owner-occupiers seek, and the absence of bushfire, flood or heritage overlays reduces pre-purchase friction. This property suits a buyer who values land content and parking capacity over a modern finish, and who is prepared to renovate or hold for land appreciation rather than immediate rental return. The primary risk is the low-to-moderate gross yield of approximately 3.0 percent, which makes this a weaker proposition for yield-focused investors unless value-add renovation lifts rental income. The 1920 construction age demands a thorough building and pest inspection, particularly for wiring, plumbing and possible asbestos. On the opportunity side, the land size and zoning may allow future subdivision or redevelopment, though title details and council provisions must be confirmed before any assumption is made. The property is best approached as a long-term hold in a location with proven demand.