5 Azalea Drive, Lockleys SA 5032

5 Azalea Drive, Lockleys SA 5032
This 1964 single-story house on a 1,498 m² lot offers 4 bedrooms, 1 bathroom, and 4 parking spaces. What is competitively strong about this property is its exceptionally large land holding, which is rare for Lockleys and provides significant redevelopment potential or space for a substantial family home. The 4-bedroom configuration is also above the typical stock for the suburb, making it a standout for buyers seeking room to grow. This property is best suited for a buyer prioritizing land value and future options over immediate move-in condition, such as a developer or a family planning a custom build. The property’s value might be materially affected by the single bathroom, which could be a functional limitation for a 4-bedroom home and may require future renovation. The age of the structure, built in 1964, means the condition of key systems like plumbing and electrical may influence the overall investment required. A buyer should weigh the premium paid for the large lot against the potential costs of updating or replacing the existing house.
Detailed Independent Property Report prepared  by PropCred Analyst team for 5 Azalea Drive, Lockleys SA 5032
Checks found:
Value Risk 2
Liquidity Risk
Planning Risk 2
Income Risk ! 1
Execution Risk 2
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Market Insight

Lockleys presents a mature, established market with a clear divergence between its premium house segment and more affordable unit sector. Demand is driven by owner-occupiers seeking established homes, evidenced by strong house price growth and swift sales. The market is characterised by tight supply, supporting robust house values, though this constraint also presents a key risk for accessibility. Future growth will be anchored by this sustained demand against limited stock, while the unit market offers a contrasting, yield-focused entry point.
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PropCred Estimated Value

Bedrooms

4

Bathroom

1

Parking

4

Land

1498m²

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