Back 505/23 King William St
Off Market

505/23 King William St

Adelaide SA 5000

3
1
Apartment
Kelly EusticeKelly Eustice, last sold this property on 27 May 2025 after 82 days on market.

Overview

Own a slice of Adelaide's vibrant CBD with this superbly located 3-bedroom apartment in a charming heritage building-offering impressive rental returns and remarkable flexibility. Set in an elevated position above the hustle and bustle of King William Street this apartment lends itself to an array of options from the first homeowners looking for a place to call home to the savvy investor looking for a great returning property at a great price. This apartment offers: • 3 well-proportioned bedrooms • Open-plan living and dining • Kitchenette with gas cooktop • Ceiling fans in every bedroom + evaporative air-conditioning/heating Enjoy unbeatable proximity to everything Adelaide has to offer-walk to the University of Adelaide, UniSA, Rundle Mall, cafés, restaurants, nightlife, and public transport (tram, train, and bus) all just steps away. Currently leased at $600-$640 per week, this property delivers an outstanding gross yield of around 9%, with a net return of approx. 6.5%-

Features

3 bedrooms
1 bathroom
Apartment

Estimated Value

Based on this property and similar 3 bedroom apartments sold in Adelaide over the last 12 months, the estimated median property value of 505/23 King William St is $1.21m.

Median value
$1.21m
Estimated value range
$365k - $3.2m
Median days on market
35
Estimated value trend
29%
increase over the last 12 months
Average days on market is based on recent, comparable sales in Adelaide. It is only an indication of the time a property is actively listed and should not be relied upon as an accurate representation of how soon a property will be sold.

Property history for 505/23 King William St

2025
Sold
Undisclosed
Private Sale/Treaty on 27 May 2025 by Kelly Eustice, of Harcourts Tagni
2023
Rented
Undisclosed
Leased on 09 Jul 2023 by Harcourts Tagni
2022
Rented
Undisclosed
Leased on 18 May 2022 by Harcourts Tagni

Happy sellers in Adelaide

93%
93% of sellers in Adelaide reported that their sale price either exceeded or met their price expectations.

Adelaide stands out for consistently delivering exceptional satisfaction and strong market results for homeowners.

This is based on voluntary sentiment collected from 30 reviews in Adelaide over the last 12 months.

Local market activity for 3 bedroom apartments in Adelaide

In the last 12 months, 66 three-bedroom apartments similar to 505/23 King William St, have been sold.

This represents a 25% increase in three-bedroom apartments sales when compared to the previous 12 months.

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