27/22 Cambridge Street, North Adelaide SA 5006
27/22 Cambridge Street, North Adelaide SA 5006
2 bed 1 bath 1 car third-floor unit | built 1985 in leafy garden complex | heritage context near CBD | strong first-home and investor appeal
This unit holds a genuine edge for its buyer group. The third-floor position among established trees gives it a sense of retreat that ground-floor units in the same complex simply lack, and the private balcony extends that quiet outlook. The updated kitchen with gas cooktop and open-plan living are practical upgrades that remove the need for immediate work, which matters for first-home buyers and investors wanting low-effort ownership. Being roughly three kilometres from the CBD, with North Adelaide Primary, Adelaide High, and Botanic High as catchment schools, it serves a broad demand pool. The 1985 build is typical for this pocket, but the combination of floor level, presentation, and school zoning makes it a stronger-than-average example of its type.
The strata format and heritage overlay are the main factors that might shape your price view. Strata fees of $658 per quarter and council rates near $1,940 annually are moderate but not trivial, and the heritage context could limit future alterations or extensions. The building’s age means you may encounter maintenance levies down the track, though no specific issues are flagged. The single undercover car space is adequate but not generous for a two-bedroom unit. These constraints are common across older North Adelaide apartment stock, so they should be weighed against the convenience and lifestyle benefits rather than treated as red flags.
|| Comparable Sales: unit 33 sold at $560k, unit 27 at $486k in same complex | Property Price Band: $500k–$600k | Value Drivers: third-floor outlook, updated kitchen, school catchment access
Detailed Independent Property Report prepared by PropCred Analyst team for 27/22 Cambridge Street, North Adelaide SA 5006
Checks found:
Value Risk
!
1
Liquidity Risk
✕
2
Planning Risk
!
1
Income Risk
!
1
Execution Risk
✓
Market Insight
North Adelaide is an established, high-amenity suburb positioned as a premier inner-city enclave, benefiting from its proximity to the CBD and prestigious school catchments. Demand is driven by affluent professionals, attracted by the suburb’s academic reputation and lifestyle, amidst a market characterised by exceptionally strong price growth and intense competition due to constrained listings. Future growth is underpinned by its relative affordability compared to eastern capitals and sustained buyer depth, though key risks include persistent supply constraints and sensitivity to elevated interest rates which challenge entry-level affordability.
PropCred Estimated Value
Comparable Sales: unit 33 sold at $560k, unit 27 at $486k in same complex | Property Price Band: $500k–$600k | Value Drivers: third-floor outlook, updated kitchen, school catchment access
Bedrooms
2
Bathroom
1
Parking
1
Land
14m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
·
Reviewed by Matt Proctor, Principal Analyst
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