22 Cavendish Avenue, Devon Park SA 5008

Large lot subdivision potential | City-fringe location | 1957 solid double-brick | Flood overlay | Renovator’s dream This property presents a primary opportunity based on its substantial, rare 1,010 square metre allotment in a city-fringe suburb, where typical lots are significantly smaller. Its solid double-brick construction and basic three-bedroom layout serve as a functional shell, but the core value is the land’s potential for future development or subdivision, subject to council approval. This house best suits an investor or builder seeking a strategic land bank or a renovator capable of addressing its current weary condition while capitalising on the underlying asset. The identified flood overlay imposes a tangible risk, likely affecting insurance premiums and requiring due diligence. The estimated rental yield of approximately 2.4% is modest, indicating this purchase is not cash-flow driven but a play on capital growth through land value. Proceed only with a clear development plan or as a long-term hold, accepting the costs of the flood risk for the eventual reward of the land’s scarcity.