3/204B Diagonal Road, Warradale SA 5046

tenanted until mid-2026 | fully refurbished homette | coastal commuter pocket | six-unit complex with low turnover The property is a fully refurbished two-bedroom homette in a six-unit complex on Diagonal Road, a corridor with high owner-occupier rates and limited recent sales. Its competitive edge lies in the renovated bathroom and kitchen, private rear yard, and carport-features that are rare in this price bracket within the complex. The existing tenancy at $500 per week until August 2026 provides immediate income certainty, which suits an investor seeking a low-maintenance holding in a well-connected coastal suburb. The unit’s position in a small block with average owner tenure of over two and a half years signals stable occupancy norms, reducing the risk of churn. The primary risk is the lack of recent comparable sales in the complex, making exit pricing uncertain until market evidence emerges. The fixed lease at $500 per week-below current market potential-caps yield during the tenancy period, though this also removes vacancy risk. An opportunity exists to re-lease at a higher rate post-2026, or to sell into a market where refurbished stock in small complexes is undersupplied. Hold for the lease term, then reassess for either a rent reset or a clean exit.