Invest in a slice of Adelaide's hottest suburb
3/4 Cleve Street, Norwood
It’s not just the famous Redlegs who are kicking goals down at Norwood. The suburb itself has been hitting the scoreboard big-time for those lucky enough to own property there.
The Valuer General says Norwood’s median house price soared to $1.3m in the June Quarter - up 24% in 12 months. For units, CoreLogic says Norwood achieved the state’s highest price growth in the past ten years.
And if you’re looking for the ideal unit for investment, check out this hidden gem, right where Norwood meets the City’s eastern fringe.
Gross Rental Return of 4.7% (based on expected rent of $350 per week)
Single-storey group of only four
2 bedrooms, updated kitchen and bathroom
Off-street undercover parking
Brand new reverse-cycle air conditioner
Private yards front and back, including fruit trees
Tranquil, tree-laden setting, well-back from the street
Owner-occupied for past 15 years
The location is mere minutes from the pulsating shops, restaurants, cinemas, boutiques and bars of Norwood Parade - while the heart of the CBD is just as close. Yes, these are clearly the reasons that Norwood has become an investment hot-spot.
But finally, it’s the PRICE that makes this the ideal property investment - well under the median price for units in Norwood ... but with exactly the same potential for capital growth as those that cost far more.
CT: 5038/672
Year Built: 1976
Building Area:...