68 South Terrace, Penola, SA 5277 | House for sale | OnTheHouse
 
FOR SALE
$520,000 - $550,000

68 South Terrace
Penola SA 5277

Bedrooms: 3
Bathrooms: 1
Car spaces: 5
Land area: 2ha
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Large block, Ripe for Development.

Whether you wish to develop or build your dream home with land, or want to consider subdivision (subject to approval), this opportunity rarely jumps onto the market! And you can make it exactly what you want.
Situated at the western end of South Terrace in Penola, sole access is from town so traffic at the front of the property will usually only be your own. South Terrace overlooking the commonage land has been a preferred outlook for many establishing higher end properties.
There is an existing home, and large shed, that was converted from the original Drive-in office and cafeteria building. Three bedrooms and a large open living area could house a family, or be converted into worker's accommodation which is desperately needed in town.
Features include:
• Two titles- Allotment 122 (1100m2 approx.) and 602 (1.97ha approx.)
• Rainwater with pump,
• Bore near the Projector Shed
• Fenced paddocks
• Zoning offering versatility (subject to approval)
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Property Details for 68 South Tce, Penola

68 South Tce, Penola is a 3 bedroom, 1 bathroom House with 5 parking spaces. The property has a land size of 2ha. The place is currently for sale with Ray White Mt Gambier.

Building Type
House
Land Size
2ha
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About Penola 5277

The size of Penola is approximately 252.5 square kilometres. It has 14 parks covering nearly 11.5% of total area. The population of Penola in 2016 was 1592 people. By 2021 the population was 1622 showing a population growth of 1.9% in the area during that time. The predominant age group in Penola is 50-59 years. Households in Penola are primarily childless couples and are likely to be repaying $1000 - $1399 per month on mortgage repayments. In general, people in Penola work in a managers occupation.In 2021, 72.60% of the homes in Penola were owner-occupied compared with 67.40% in 2016.

Penola has 1,235 properties. Over the last 5 years, Houses in Penola have seen a 122.03% increase in median value, while Units have seen a 119.65% increase. As at 30 November 2025:

  • The median value for Houses in Penola is $393,884 while the median value for Units is $308,124.
  • Houses have a median rent of $260.
There are currently 12 properties listed for sale, and no properties listed for rent in Penola on OnTheHouse. According to Cotality's data, 59 properties were sold in the past 12 months in Penola.

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Karyn Prelc
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Ray White Mt Gambier
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