The highlights of historic Semaphore are usually the hip bars, organic cafes, and its vibrant waterfront, yet several strides away is another kind – the kind of thrill that rarely repeats.. Stealing sea views from its verandah elevation on a brush-fenced 860sqm* landholding, is a grand stone villa that's as enticing as its iconic position. Modified as two homes in one within its period bluestone/freestone walls, together, the villa's up to 5-bedroom capacity adds a magnificent glass encased conservatory, alfresco terrace and water feature, dual carport, and secure double driveway gates, presenting almighty scope to re-write its future. Cleverly adapted for function and storage, both the 3-bedroom and 2-bedroom units are tenanted until early 2022, giving you a guaranteed combined $900pw income until then. Perhaps you'll continue letting them out long-term, or, let them become the newest pair of boutique Airbnb holiday stays - just in time for Adelaide's growing residential and tourist market… The front wing (Unit 8) lives like a villa with a bay window master, a combined living/dining zone opening to a hybrid heritage bathroom/laundry with a spa bath; the 2nd bedroom and compact kitchen with a full suite of stainless appliances follow behind. Unit 7's larger rear footprint caters for 2 or 3 bedrooms, hosts a converted cellar/retreat, and a Provincial galley-style kitchen with caterer-sized stainless appliances that steps up to the sunlit conservatory. Here, its wingspan entertains beneath vaulted timber ceilings, ahead of a bay windowed dining area, and against French doors on repeat to a private alfresco terrace. Restore it to authentic glory or pocket its valuable dual income moments to Semaphore Road, the seaside, sunsets, and the lapping waves – this is a landmark property geared for flexibility galore. Unit 7: Larger footprint of 3-bedrooms Split system to living Galley kitchen with adjoining study Conservatory with paved rear terrace Tenanted @ $450pw until 3/2022 Unit 8: 2 bedrooms New kitchen installed 6 years ago Ducted R/C /C Tenanted @ $450pw until 2/2022 The opportunity: stone villa on 860sqm* (*approx.) An iconic seaside position Dual accommodation flexibility Dual carport Secure brush fence & iron gates Irrigated gardens Waterfront recreation just metres from the sea Moments to cafes & retail along Semaphore Road *Purchasers should conduct their own due diligence and any information provided here is a guide.