BrickX secure second Adelaide property

Fractional property investment platform BrickX have continued their 2018 spending.

They've settled on a 1920s home in Kingswood, a southern suburb of the Adelaide CBD near Mitcham Square.

It's the second property they've bought in South Australia having spent $825,100 on a St Peters home mid last year.

The new $567,500 purchase has two bedrooms and one updated bathroom.

The character features of the 1920s have been retained, including high ceilings, polished timber floorboards and an open fireplace.

It has an outdoor entertaining area with verandah and pergola on its 301 square metre Arnold Street parcel.

Bricks are being offered at $47 per brick.

A tenant has been secured at $400 a week, which reflects an annual net rental yield of just under 1.6%.

The home is set to bring in a total of $7,429 a year.

BrickX advise the historical suburb growth of Kingswood is 7.5% per annum.

Earlier this year BrickX bought a property in Soldiers Hill, their first in Central Victoria, quickly followed by another in Ballarat nearby, as well as an apartment in Darlinghurst.