31 Greenwood Cres, Smithfield Plains SA 5114

Move-in ready | subdivision potential | 667sqm corner block | Playford growth corridor This property presents a rare configuration advantage in Smithfield Plains. The 667sqm allotment with 20.7m frontage offers genuine subdivision potential into two Torrens titles, subject to council consent. For a buyer seeking land value upside in a growth corridor showing 13.4% annual appreciation, the house itself becomes secondary to the site’s redevelopment optionality. The 1966 build is functional and tenanted at a $460/week midpoint, covering holding costs while approvals are sought. This suits an investor or developer with patience for council timelines, not an owner-occupier seeking refined finishes. The primary risk is the flood overlay, which may increase civil design costs for subdivision and requires early due diligence with Playford Council. The modest 98sqm building limits rental yield unless improved, but the 5G and FTTN connectivity are adequate for tenant demand in this price bracket. The opportunity is to acquire below replacement cost on land, then hold for subdivision or sell with DA approval for a premium. Best held as a rental while progressing subdivision-this is a land play with a house paying its way.