8 Alawa Avenue, Modbury North SA 5092
8 Alawa Avenue, Modbury North SA 5092
Large family block in Modbury Heights | Tenanted until 2026 | Zoned for potential townhouses | Rare 699m² allotment
This property presents a rare and versatile holding in a well-established family suburb. Its substantial 699m² parcel with wide frontage is increasingly uncommon and provides immediate rental income alongside clear development potential for up to four townhouses, subject to council approval. This configuration creates a compelling hedge, serving an investor seeking secure yield or a developer acquiring future stock in a high-demand location.
Your decision hinges on tolerating the flood overlay and committing to a lengthy planning process against the opportunity to secure a large, well-located block with built-in income. The tenancy provides cash flow to offset holding costs while plans are finalized. Acquire this as a strategic land bank with income cover; its highest value is realized through subdivision, not as a standalone house.
Recent comparable sales data is limited, but the property’s own sales history is instructive:
– Nov 2021: $670,000
This prior sale at a significantly lower price underscores the substantial capital growth already captured and frames the current premium as a payment for future development potential, not the existing house.
Detailed Independent Property Report prepared by PropCred Analyst team for 8 Alawa Avenue, Modbury North SA 5092
Checks found:
Value Risk
2
Liquidity Risk
1
Planning Risk
1
Income Risk
Execution Risk
1
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Market Insight
Modbury North is a well-established, family-oriented suburb with strong professional demographics driving demand. Recent price growth has been robust, supported by tight rental vacancy and low sales inventory, indicating a competitive market. Future demand is underpinned by steady population growth and established infrastructure, though affordability constraints and limited housing supply present key risks to sustained momentum.
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PropCred Estimated Value
Bedrooms
3
Bathroom
1
Parking
1
Land
699m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
·
Reviewed by Matt Proctor, Principal Analyst
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