38 Murray Street, Albert Park SA 5014

| Subdivision complicates ownership | Rental yield below suburb average | Land size variable across records | 1950s build needs upkeep | The property’s fragmented data raises due diligence risks. Multiple units on one title mean shared land tenure and potential body corporate costs, which eat into net rental return against the estimated $530 per week income. The 1950 build presents original wiring or plumbing issues that could cost $15,000–$30,000 within first five years, offsetting any short-term capital gain. If buying to hold, negotiate a mandatory building inspection clause; for immediate rental, the yield is thin unless you self-manage. This is competitively strong for a buyer seeking a dual-income setup through the two-unit configuration, rare in Albert Park’s family housing stock. The school catchment and 5G coverage add tenant appeal, but the small 390m² lot limits future subdivision. It best serves an investor willing to accept moderate cash flow for long-term land appreciation, not a first-home buyer. Start with a strata search and a licensed builder quote before proceeding. Comparable sales at 2/38 Murray Street (May 2025) at $700,000 and 1/38 at $660,000 in June 2024 suggest the property sits in a $660,000–$700,000 range, reinforcing the $740,000–$840,000 estimate as optimistic unless renovations are recent.