4 Parham Street, Elizabeth Downs SA 5113

Large 820sqm block in Elizabeth Downs | planning consent for three dwellings | 1962 build with low coverage | flood overlay present This property’s primary buying case is the approved planning consent for three dwellings on an 820sqm lot-rare for the area and a structural advantage for a developer or investor seeking immediate yield uplift. The low 13% building coverage and 20-metre frontage support subdivision without demolition, which is where the value lies. The existing three-bedroom house provides holding income while approvals progress. It suits a buyer with medium-term development intent rather than an owner-occupier looking for a finished home. The flood overlay is the main risk, potentially increasing civil costs and delaying council sign-off. The 1962 build will require updating for rental compliance and market appeal, likely $40–60k for basic refresh. The $515pw rental estimate is modest but viable during a staged rollout. Opportunity is in executing the three-dwelling plan in phases, using the existing house as a cash-flow buffer. Hold for two to three years, then sell or retain as a duplex-plus-granny-flat configuration.