540 Milne Road, Redwood Park SA 5097

House and vacant lot combo | dual-opportunity in tight pocket | 350sqm proposed allotment | suited to owner-occupier or investor This property is unusual for Redwood Park because it bundles a liveable three-bedroom house with a separate 350sqm allotment on the same title. For a buyer, that means immediate rental income from the existing dwelling while the vacant lot is held or developed separately. The subdivision is already proposed, so the approvals pathway is further along than raw land. It suits a buyer who wants to control two parcels in a tightly held area without competing at two auctions. The location near schools and transport gives the land a first-home buyer or builder end-market, which supports resale or staged exit. The main risk is that the house is small and older-one bathroom only-so its rental ceiling is modest. The vacant lot’s price point is high relative to its size, and if the subdivision is not yet fully approved, timing risk and holding costs apply. The buyer should confirm whether the allotment can be sold separately or must transact with the house. If holding, the logical path is to rent the house and either sell the lot to a builder or build a small project home for capital growth. This is a structured play, not a passive hold, and works best for someone who can manage two tenures.