5/5 Third Avenue, Glenelg East SA 5045

5/5 Third Avenue, Glenelg East SA 5045
Two bedroom one bathroom ground floor unit in a 1973 low rise complex. Renovated kitchen and bathroom. Single car space. Land size 93 square metres. Walkable to Glenelg Beach and Jetty Road. Access to tram and bus to the CBD. This unit is positioned within walking distance of the beach and Jetty Road cafes, which is considered a strong draw for young professionals and retirees. The renovated kitchen and bathroom set it apart from many older units in the suburb, where original finishes are common. It sits comfortably within Glenelg East’s established low rise stock, but the updates give it a competitive edge for buyers who want move in ready coastal living with good transport links. The ground floor layout offers easy access, and the single car space meets the needs of most households in this area. It is best suited to those prioritising location and low maintenance over internal space. The 1973 construction may introduce considerations around building systems and ongoing upkeep, though renovations might have already addressed key areas. The 93 square metre lot and single car space could limit appeal for buyers needing additional storage or multiple vehicles. A thorough inspection is recommended to confirm the condition of common areas and infrastructure. These factors ought to be weighed carefully when forming a view on price.
Detailed Independent Property Report prepared  by PropCred Analyst team for 5/5 Third Avenue, Glenelg East SA 5045
Checks found:
Value Risk ! 1
Liquidity Risk ! 1
Planning Risk ✕ 2
Income Risk ✓
Execution Risk ✕ 2
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Market Insight

Glenelg East presents a premium, high-growth residential market, with its house segment significantly outperforming its more affordable unit market. Demand is anchored by buyers seeking established, high-value homes, evidenced by strong capital appreciation and competitive sales periods. The market demonstrates robust momentum, though this is tempered by lower rental yields, indicating a clear owner-occupier preference. Future performance will hinge on sustained demand for its limited housing stock, with affordability acting as a natural constraint on entry and expansion.
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PropCred Estimated Value

Bedrooms

2

Bathroom

1

Parking

1

Land

93m²

Research & Review Prepared by Steve Dalton, Senior Analyst · Reviewed by Matt Proctor, Principal Analyst
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