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Overview
This property at 24 Edden Street, Adamstown, is a unique opportunity that blends residential living with significant investment and development potential. Its location in a thriving growth corridor along with the combined total land of over 740sqm shared with the neighboring 70 Fourth Street creates an expansive footprint that is increasingly rare in this sought-after suburb.
The residence itself offers six bedrooms and two bathrooms, providing ample space for large families or multi-generational living. Two dedicated parking spaces add convenience and practicality, complementing the property's overall utility. The presence of a garage and a separate studio on the adjoining lot enhances options for storage, work, or creative pursuits.
From an investment viewpoint, the existing homes generate an estimated rental income of approximately $1,390 per week, which points to steady cash flow potential. Additionally, the R3 medium density residential zoning across both properties presents further flexibility for redevelopment opportunities, subject to council approval.
- Combined landholding with extensive frontage and rear lane access supports multiple use cases including land banking, redevelopment, or rental investment.
- Proximity to Adamstown train station (less than 600m) facilitates easy commuting.
- Nearby amenities such as Westfield Kotara, cinemas, and dining precincts are within a short 1.2km distance.
- Strategic location allows quick access to Newcastle CBD and local beaches, enhancing lifestyle appeal.
Overall, this property caters to investors seeking a well-positioned asset with growth potential as well as families who value space and good connectivity. The dual-property offering opens doors to diverse future possibilities while delivering immediate income and residence satisfaction.
Local Market Insights
In Adamstown, Quiet Listings observed 8 new houses entering the market over the last 30 days, down from 20 during the previous 30-day period, with an average advertised asking price of $1,179,375. The property type mix of listed properties is predominantly Houses at 45%, followed by townhouses (15%), and units (10%). Ray White was the most active agency in this area, representing 23.5% of all new listings in the last 30 days. These insights are based on agencies currently monitored by Quiet Listings and are updated as the local market changes.
While every effort is made to ensure the accuracy and completeness of the property information provided, no guarantee is given. Buyers should independently verify all details, inclusions, availability, pricing, and other relevant information directly with the listing agent before relying on this information.
Location
Adamstown NSW 2289
Market Insights for Adamstown NSW 2289
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