39 Lasscock Avenue, Lockleys SA 5032

Large original condition on 777m² | Potential for renovation or redevelopment | Blue-chip Lockleys locale | Currently tenanted with solid rental demand This property presents a compelling opportunity based on its substantial landholding in a sought-after suburb, a combination that is increasingly rare. The original 1963 home offers a functional, versatile floor plan and is immediately income-producing, but the primary value lies in the land’s development potential or a future renovation. This property best serves a buyer with a longer-term view, either as a strategic land bank or as a project to significantly increase capital value through refurbishment or rebuild, subject to council consent. The key decision hinges on managing the cost of deferred maintenance and the complexity of potential development against the clear upside of the land size. The original condition throughout necessitates a comprehensive renovation budget, while pursuing a new build introduces planning risk and capital outlay. The commercial logic is sound: acquire a high-demand location with immediate yield, then execute a value-add strategy. Hold as a rental while planning future works, or occupy after renovation to capture the full benefit of the location and block size.