36/23 Colley Terrace, Glenelg SA 5045

36/23 Colley Terrace, Glenelg SA 5045
6th-floor outlook | 1971 walk-up in a 37-lot block | 2-bed, 1-bath, 1-car | renovated spread across the building | flood overlay noted The competitive edge here is the elevated position. A sixth-floor apartment in a beachside Glenelg block gives you reserve and coastal views that most older stock in the suburb simply cannot offer, and that outlook tends to hold value better than internal upgrades. The building itself is a mix of original and renovated units, so you are buying into a complex with proven demand from downsizers, sea-changers, and investors who want lock-and-leave living near the tram, Jetty Road, and the beach. For a buyer who values light, air, and a sense of space over land, this unit sits in a sweet spot—older fabric but a location and level that feel more premium than the building’s age suggests. What may materially affect price is the inconsistency in how units within the same block are presented and finished. A renovated interior with modern fixtures, double glazing, and an updated kitchen could push value toward the top of the range, while an original-condition fit-out might cap it closer to the middle. The flood overlay is worth weighing, though it is not unusual for coastal addresses and rarely impacts day-to-day living. The single-car space is standard here, so it is unlikely to be a limiting factor, but the lack of a second space could narrow appeal for some buyers. || Comparable Sales: 20/23 Colley Terrace sold $597k, 12/23 Colley Terrace sold $680k | Property Price Band: $600k–$700k | Value Drivers: floor level, renovation standard, outlook quality
Detailed Independent Property Report prepared  by PropCred Analyst team for 36/23 Colley Terrace, Glenelg SA 5045
Checks found:
Value Risk ✕ 2
Liquidity Risk ✕ 2
Planning Risk ! 1
Income Risk ✓
Execution Risk ✓
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Market Insight

This suburb presents a clear divergence between its established, premium house market and a more accessible unit segment. Demand is supported by consistent capital growth across both property types, with houses experiencing moderate annual appreciation and units showing slightly stronger recent performance. The market for houses is characterised by a measured sales pace, while the higher rental yields for units indicate their relative affordability and investment appeal. Future growth will hinge on sustained demand within these distinct segments, though the limited volume of house sales suggests a tightly held market that may constrain supply and amplify price sensitivity to broader economic conditions.
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PropCred Estimated Value

Comparable Sales: 20/23 Colley Terrace sold $597k, 12/23 Colley Terrace sold $680k | Property Price Band: $600k–$700k | Value Drivers: floor level, renovation standard, outlook quality

Bedrooms

2

Bathroom

1

Parking

1

Land

266m²

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