Ray White Mt Gambier is pleased to present 7 Morphett Terrace, Tarpeena, for sale. This is a large allotment with an established three-bedroom home on the property that would be ideal for a renovation or potential rebuild to attract a wave of professionals seeking rental accommodation. Tarpeena sits on the Riddoch Highway between the rural city of Mount Gambier and the Coonawarra wine region, with the popular residential town of Penola just 20 minutes away. This property has plenty of room for animals or a dream family home to be built. It comes with an affordable price tag making it ideal for investment opportunities. The allotment is accessed from Morphett Terrace, just off the Riddoch Highway. A tidy grassed garden sits in front of the three-bedroom home with a single car garage to the far right. A central front entry through the verandah, leads into a carpeted lounge room with a slate surround, slow combustion fireplace and a unique slate feature wall with timber panelling to either side. It benefits from a near-new reverse cycle air-conditioning unit for comfort all year round. This front-facing room offers views of the garden and has high ceilings to maximise the country cottage feel. A spacious kitchen and diner/study space are separated with a dividing wall/breakfast bar. The sink overlooks the rear garden via a large window with timber Venetians. Vinyl floors and an original kitchen with ample storage and benchtop space surround a free-standing oven and cooker. This room is ideal for a renovation project offering lots of space and a fantastic layout. It has already been updated with fresh tiles and paint. A large, updated bathroom sits to the rear left of the kitchen. This newly tiled space offers a shower, toilet and a vanity unit with plenty of room for a free-standing bath if desired. A grey and white colour scheme makes it easy to add modern additions to further style this functional bathroom. Two front-facing double bedrooms sit on either side of the living room. Both are carpeted for comfort and offer blinds and curtains. The three front facing windows all offer electric security roller shutters for security and privacy. The main bedroom sits to the right, adjacent to the carport. This room offers built-in robes, carpets and blinds and has timber panelling on the walls. It is accessed from the front porch as well as the dining area. Covered rear access accommodates a laundry equipped with a trough and provides shelter and privacy to the rear of the house. This area leads onto a patio space that offers room to build an entertaining area, pergola or workshop. There is additional shedding at the far end of the property, perfect as a potting shed or a wood store. Other sheds and hutches offer space for chickens, rabbits or vegetable plots. The spacious back garden benefits from a clothesline and fully enclosed fencing. This space is begging for a makeover with a simple fire pit and a few garden beds, all that is needed to create a tranquil place to relax. This is a fantastic opportunity to renovate a home for a bed and breakfast or rental return sitting in the ideal location for seasonal workers and holidaymakers looking to explore and literally taste the fruits of the beautiful Coonawarra. This property offers space for an attractive and welcoming driveway. It would benefit from a fresh paint job and some creative touches to make it a character stay away from home. If you're looking to invest but have been deterred by current interest rates, you might be pleasantly surprised to learn that rentals in this market are in high demand. Newly created jobs at the local mill, seasonal positions within the Coonawarra, and growth in Mount Gambier are bringing an influx of renters to the area. Invest at an affordable price today and rent your renovated home to those seeking accommodation outside the rural city. Contact Tahlia and the team of friendly and professional realtors at Ray White Mt Gambier and learn more about this fantastic investment opportunity today. RLA 291953 Additional Property Information: Age/ Built: Approx. 1950 Land Size: Approx. 1,122m2 Council Rates: Approx. $413 Per Quarter Rental Appraisal: A rental appraisal has been conducted of approximately $240 to $260 per week.