24 Dunrobin Street, Lockleys SA 5032

Large family home | 87% building coverage | 2005 modern build | Lockleys location | 5 bed, 3 bath, 3 living This property presents a compelling proposition as a substantial, modern residence on a larger-than-typical allotment for Lockleys, built with a high degree of finish and coverage that maximizes liveable space. Its configuration of five bedrooms, three bathrooms, and three living areas across two storeys, supported by ducted reverse-cycle air conditioning and premium finishes, is competitively strong for the area and squarely serves an executive family seeking a low-maintenance, turnkey home in a beachside western suburb. The 87% building coverage indicates a capital-intensive improvement, making it a property for occupying rather than land banking, and its position amongst other quality homes in a desirable pocket reinforces its appeal to a specific buyer profile valuing established neighbourhood character with proximity to the city. The decision hinges on the premium paid for its modern condition and extensive improvements against the typical suburban stock. The primary risk mechanism is the potential for limited capital growth relative to purchase price, as a significant portion of the value is tied to the dwelling which will depreciate, unlike the land component. The opportunity lies in securing a comprehensively appointed family home without immediate upgrade costs, offering a decade or more of functional utility. Given its under-offer status at a guide of $1.95 to $2.05 million, the commercial logic is only sound for a buyer whose specific needs match this property’s extensive offering, recommending it as a long-term hold for occupation rather than a strategic investment. Sales history indicates it last sold for $1,650,000 in April 2023. This rapid resale at a significantly higher price point suggests strong underlying demand for quality, modern homes in this location, though it also establishes a high base that must be justified by the next purchaser. The neighbouring property, while on a larger land parcel, has a notably lower estimated value due to its inferior configuration, underscoring the value placed on this home’s substantial improvements and bedroom/bathroom count.