24/74 Military Road, Tennyson SA 5022
24/74 Military Road, Tennyson SA 5022
1976 two-bed | two secure car spaces | 100m² lot | balcony and outdoor entertaining | flood overlay
A 1976 two-bedroom apartment with two secure car spaces is a compact but well-served offering. The combination of balcony, built-in robes, dishwasher, floorboards and split-system heating and cooling makes it a low-maintenance proposition. With a 100 square metre lot and outdoor entertaining space, it suits downsizers seeking coastal-lake proximity without house upkeep, and investors looking for steady rental demand. The property is part of a low-rise residential pocket where apartment stock is a smaller share of the local market, so this configuration holds a degree of scarcity. Its position within school catchments and near transport adds practical appeal.
The flood overlay may be expected to affect insurance premiums and could influence lending appetite. The 1976 construction might present older plumbing or electrical installations, although the recorded features imply some degree of updating. Value may be materially shaped by condition, layout efficiency and the functionality of the two secure parking spaces. A balcony and outdoor entertaining area may enhance appeal, while the lack of lift access or an unclear floor level might narrow the buyer pool.
Detailed Independent Property Report prepared by PropCred Analyst team for 24/74 Military Road, Tennyson SA 5022
Checks found:
Value Risk
Liquidity Risk
Planning Risk
Income Risk
2
Execution Risk
1
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Market Insight
Tennyson, a coastal Adelaide suburb, is a tightly held, high-value enclave. Demand is driven by affluent, Australian-born professionals aged 50-59, many with qualifications, drawn to sea views and scarce stock. Median house prices range from $2.4M to $3.4M, with annual growth estimates of 35.6%, 51.3%, and 36.2%, though one source shows a slower 7.4% compound rate. Only 12-13 house sales occur yearly, reinforcing supply constraints and price pressure. Rental demand is thin, with median weekly rents around $1,200 and 3-bed homes at $540. Future growth is underpinned by limited listings and coastal positioning, but affordability is the key constraint, with prices well above the reach of typical local households.
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PropCred Estimated Value
Comparable Sales: 16/72 Military Road sold for $525,000 in Apr 2024; 1/70 Military Road sold for $507,000 in Jan 2024 | Property Price Band: $500,000–$600,000 | Value Drivers: condition, two-car secure parking, outdoor entertaining space
Bedrooms
2
Bathroom
1
Parking
2
Land
100m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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