704/17 Penny Place, Adelaide SA 5000

Level 7 CBD location | Inner-city apartment | Young professional demographic | Moderate rental yield This is a 2-bedroom, 1-bathroom apartment positioned on Level 7 of the Penny Place development in Adelaide’s central business district. The building was designed by award-winning architects Woods Bagot and developed by Flagship Group, establishing itself as a quality inner-city residential option with contemporary finishes. The 72 square metre internal space suits young professionals and small households seeking low-maintenance urban living. The location places residents within walking distance of Adelaide’s CBD amenities, cultural institutions, and employment hubs. The area skews toward younger demographics, with 44 percent of residents aged 20-39, indicating strong demand from this cohort. The apartment includes one car space and carport space, addressing parking constraints typical of CBD locations. Connectivity is solid with Opticomm Fibre to the Premises and 5G mobile coverage available. Rental income potential sits at approximately 740 dollars per week, translating to a moderate yield for investors. The property last sold in 2023 for 552,000 dollars and is currently estimated at 664,000 dollars, reflecting appreciation in the Adelaide inner-city market. The catchment includes Adelaide High School, though proximity to educational facilities is less relevant for the primary demographic. No bushfire, flood, or heritage overlays affect the property, reducing regulatory constraints. Growth drivers center on continued CBD revitalization and demand from young professionals seeking apartment living. The main risk involves market saturation in the apartment sector and potential oversupply in similar developments. Rental demand remains stable given the demographic concentration, though capital growth depends on broader CBD market momentum.