By james art 
Located within walking distance of the new Crows HQ, this refurbished cottage has proved an attractive proposition for local fans and investors.
The five-bedroom home at 48 East St, Torrensville sold for $1.52 million at auction over the weekend, attracting eight registered bidders and netting its sellers more than $837,000 in gross resale profit.
Property records show the home last sold in 2020 for $682,750.
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Selling agent Thanasi Mantopoulos of LJ Hooker Mile End/Woodville said the impending move to Thebarton Oval by one of Adelaide’s best-loved football teams had helped attract strong buyer interest from both local and interstate investors.
“We had eight registered bidders, four or who were active, which is quite a large number for an auction,” he said.
“We had a lot of interest from the locals but we also had some from the interstate and we had a special family watching it who were big Crows fans.
“It ended up going to a family that was already living west (of Adelaide) but wanted to get into that particular area and wanted to avoid going through the process of building or renovating.”
![Delivered Real Estate 48 East Street, Torrensville](data:image/svg+xml,%3Csvg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 1280 720"%3E%3C/svg%3E)
Beautifully renovated and extended, this villa is the epitome of luxury and offers plenty of space for the whole family.
The home has come a long way since its last sale in 2020.
The fresh white kitchen now overlooks a modern open plan living space.
The former, outdated kitchen certainly needed a facelift.
With home prices in Torranceville jumping 68.3 percent over the past three years, according to PropTrack, Mr. Mantopoulos said he expects future price growth in the area in the coming years.
“The sale of 48 East St definitely helps establish a new (price orientation) in the $1.5 million and $2 million range,” he said.
“I think this is now really becoming the entry level for a four to five bedroom, two bathroom home in the area.
“Moving the Crows to Thebarton (oval) will also have a positive impact. The best way to describe it is that out of the 111 groups I had gone through at 48 East St, only one mentioned it in a negative way.
“For anyone who has been to Melbourne recently where you see their football teams training on the side of the road, this is definitely needed here in Adelaide.”
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With five bedrooms to choose from, the home is ideal for large families.
One of the old bedrooms before renovation.
The backyard now looks inviting and offers plenty of room for kids and pets to play.
Backyard before renovation.
Mr Mantopoulos said the sellers had “injected some capital” into renovating and extending the home, which now features a host of modern additions and upgrades.
A master bedroom impresses with a walk-in closet and floor-to-ceiling tiled bathroom, while four other bedrooms feature cozy carpeting.
The extension to the rear of the home has been designed with functionality and luxury in mind.
The kitchen boasts white cabinets, stone worktops and gold accents, while the living and dining rooms have large windows and offer two-way access to the outdoor area.
Property records show the home has been an investment for several years, with the last advertised rental price being $700 per week.
“The home comes with a strong return and the only reason the sellers (are) selling is because they changed their plan,” Mr. Mantopoulos says.
“So all the work that was done — it wasn’t just fake work. It was done right.”