129/220 Greenhill Road, Eastwood SA 5063

Large 3-bed apartment in resort complex | Opposite Victoria Park | Secure 3-car parking | Premium cladding upgrade by 2025 This property presents a rare, large-format apartment in a city-fringe location, directly opposing parklands. Its three secure car spaces and substantial internal area are highly atypical for apartment stock, catering specifically to owner-occupiers or investors seeking a low-maintenance property without compromising on space. The scheduled, owner-funded cladding remediation removes a significant overhang and future special levy risk, enhancing both safety and capital value upon completion. This property best serves a buyer prioritizing inner-city proximity, premium finishes, and a lock-and-leave lifestyle. The decision hinges on strata economics and the building’s conversion history. Quarterly strata fees are material and must be factored into holding costs. The 2005 conversion of a 1960s structure warrants a meticulous review of building condition and sinking fund adequacy. The commercial logic is clear: secure a large, upgraded property in a tightening market where such configurations are scarce. Proceed with a stringent strata report, then hold for long-term capital growth driven by its irreplaceable aspect and completed upgrades. Recent sales in the complex provide context. Unit 29/220, a smaller two-bedroom, one-car configuration, sold for $810,000. This three-bedroom property, with its additional bedroom, bathroom, and two extra car spaces, historically commanded a premium, having sold for $985,000 in 2019. This disparity underscores the significant value placed on space and parking in this location.