4/78 Military Road, Tennyson SA 5022

1976 villa | renovated 2016 | 16m² strata lot | West Lakes views | quiet group This property presents a competitively priced, low-maintenance entry into a beachside suburb, with its 2016 kitchen and bathroom updates mitigating the typical depreciation of its build era. The genuine lake views and tranquil positioning within a well-maintained small complex are its defining attributes, offering a lifestyle premium uncommon in this price segment. It serves best as a secure holding for an owner-occupier seeking a lock-and-leave lifestyle or an investor targeting the steady rental demand for modernised units with character. The primary risk is the exceptionally small 16-square-metre land title, which permanently caps land value appreciation and strata control. The single bathroom configuration, against one source noting two, may limit resale appeal compared to two-bedroom, two-bathroom stock. Proceed only if the view and location premium outweigh the inherent strata and land size constraints; it is suited for long-term holding, with its recent renovation supporting sustained rental or occupancy utility. Recent comparable sale: • 18A North Street, Henley Beach: A larger 4-bedroom, 3-bathroom house auctioned concurrently, indicating active buyer demand in the broader area but not providing a direct comparison to this villa type. The property last sold for approximately $620,000 in May 2025. This recent sale price establishes a credible baseline, suggesting the current estimated value reflects modest market movement, positioning it as a stable rather than speculative opportunity.