Two-in-one Norwood property has buyers in a frenzy
A “never seen before” property opportunity in Norwood has received overwhelming response from buyers for its unique home business potential.
47 & 49 Sydenham Rd offers buyers the chance to secure two properties as one or alternatively secure each of the listings separately.
The property, which consists of two townhouses and a warehouse, is listed with Ouwens Casserly Real Estate and has a combined asking price of up to $2.513 million.
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The townhouses can be purchased separately, with number 47 listed for $849,000 to $923,000 and number 49 listed for $1.49 million to $1.59 million. The latter includes the warehouse.
Offers will close on Monday, September 9 at 5pm.
Selling agent Mark Bressington said the properties had attracted “unseen offers” from potential buyers.
“We’ve had a lot of self-employed businesses and three country inquiries,” he said.
“The potential there is enormous. You could apply to knock down the warehouse and have a massive house at the back or a tennis court.
“Or you could run a business, which has been done before. It could be an investment for yourself, you could rent out the two townhouses and the warehouse separately.”
Mr Bressington said the properties offered “many different options” and had plenty of income potential for savvy buyers.
“There’s one freestanding townhouse on one title, with nice finishes and a light and bright interior,” he said.
“Next door you have the same, however that one has a big warehouse at the back with rear access from the laneway.
“It would be fantastic for car storage. The amount of people that are renting sheds and storage for their cars is unbelievable.”
The lower level of the townhouses offer an open-plan kitchen, dining and living area, plus a powder room and laundry.
Meanwhile, upstairs features a luxurious master suite, two bedrooms, a second bathroom and a spacious family room with built-in storage.
Mr Bressington said the property offered a contemporary lifestyle, right in the heart of sought-after Norwood.
“The townhouses are completely separate, so you’re not imposing on the neighbour,” he said.
“You’re only three-minutes to the CBD and you’re in one of the best areas in South Australia.”
Norwood has experienced a 4.6 per cent growth in median house price over the last three years to May 2019, according to CoreLogic.