Here's a fine opportunity for you: Approximately 430sqm of rare elevated East facing Torrens title land just the perfect size and position for constructing a single new luxury residence located literally just a few steps from Henley Square. Current improvements comprise an income producing, well-presented, late 1950s red brick two-bedroom dwelling with clean serviceable wet areas, kitchen dining room and living room. An astute buyer may chose to 'land bank' the land while capitalising on the tax effective income potential from the modest existing dwelling while waiting for the right time to build or alternatively, why not option to demolish old and construct new sooner rather than later. You choose You'll be investing in your future at the relaxed epicentre of Adelaide's seaside lifestyle just moments from one of Adelaide's most popular beaches and less than a moment from the diversity of dining, cafés and shopping at options located at and around Henley Square. Drop a line from the jetty, join the lifesaving club, immerse yourself in the soothing seawater or simply enjoy a reliable sea breeze at home. Comforting evidence of the markets confidence in the future and Henley and Grange can be found by way of the obvious massive investments in new luxury homes all around. All this is happening in a location where dwelling density is balanced so beautifully with lifestyle resulting in a prospectively superior capital gain. Note: There is no closer beach to the CBD so you'll enjoy the shortest drive to the city or commute via public transport with ease and convenience. At the same time, Major shopping at West Lakes and fine local shops all but eliminate the need to travel far for your daily needs. Make no mistake, due to circumstances our vendor is highly motivated to sell and will 'meet the market' at auction. Accordingly our price statement reflects that determination and is modestly and realistically set at: $590,000.