4/10 First Avenue, Glenelg East SA 5045
4/10 First Avenue, Glenelg East SA 5045
Brick unit in a small complex | compact floorplan | tight coastal pocket | investor-grade rental demand | strata-managed location
This property is understood to be a low-maintenance unit within a modest brick holding, a format that is competitively scarce in this slice of Glenelg East. It sits just off the main coastal axis, where detached houses dominate and newer infill is limited. That scarcity is a genuine strength for downsizers and professionals who want beach proximity without garden upkeep. The unit is best suited to owner-occupiers seeking a lock-and-leave base or investors targeting steady inner-west rental demand. The established character of the street adds a sense of stability, while the compact footprint keeps entry and running costs lower than much of the surrounding stock.
Value may be influenced by the unit’s floor level and orientation, which are not confirmed here. A rear-facing or upper-position unit might offer more privacy, while parking and storage constraints could temper appeal. Strata fees and any special levies should be weighed, as older complexes often require periodic maintenance. The tight land component means capital growth may lag detached houses, but the rental yield potential might compensate. A purchaser should confirm the exact internal condition and title restrictions before forming a view.
Detailed Independent Property Report prepared by PropCred Analyst team for 4/10 First Avenue, Glenelg East SA 5045
Checks found:
Value Risk
2
Liquidity Risk
2
Planning Risk
Income Risk
2
Execution Risk
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Market Insight
Glenelg East is a high-value, tightly held suburb: median house price is $1.74m–$1.91m, with 16% annual growth. Only 26–30 houses sold in the past year, and houses spent 44–45 days on market. Units are the entry point: median $655,000–$670,000, up 4.6–9.7% in a year. Demand is split by asset type. House buyers accept a 2.61% gross rental yield, prioritising growth; unit investors target a 4.2% yield on $520/week median rent, versus $578/week for houses. The price-to-rent ratio and low sales volume highlight affordability constraints and a thin stock base. Future growth relies on continued capital appreciation, leaving the market exposed to rate rises and supply shifts.
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PropCred Estimated Value
Comparable Sales: 1/2 First Avenue sold $690k; 2/4 First Avenue sold $675k | Property Price Band: $650k–$750k | Value Drivers: condition, layout, parking
Bedrooms
2
Bathroom
1
Parking
1
Land
13m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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