505/23 King William StreetAdelaide SA 5000
Property Details for 505/23 King William St, Adelaide
505/23 King William St, Adelaide is a 3 bedroom, 1 bathroom Unit with 4 parking spaces and was built in 1936. The property has a land size of 60m2 and floor size of 56m2. While the property is not currently for sale or for rent, it was last sold in June 2025. There are other 3 bedroom Unit sold in Adelaide in the last 12 months.
Last Listing description (June 2025)
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
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, cafs, 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%-making it a standout investment in today's market. With no locked-in management agreements or restrictions on use, this apartment is suited to investors, owner-occupiers, or those seeking an affordable city base.
Whether you're looking for a high-yield investment, a CBD base for your student children, or a future home, this is a rare find that ticks all the boxes.
Call to book your tour - Kelly 0468 640 085
Property History for 505/23 King William St, Adelaide, SA 5000
- 17 Jun 2025Sold for $400,000
- 16 Apr 2025Listed for Sale $380,000
- 07 Jul 2023Listed for Rent $555 / week
Recent sales nearby
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About Adelaide 5000
The size of Adelaide is approximately 10.2 square kilometres. It has 42 parks covering nearly 50.5% of total area. The population of Adelaide in 2016 was 15115 people. By 2021 the population was 18202 showing a population growth of 20.4% in the area during that time. The predominant age group in Adelaide is 20-29 years. Households in Adelaide are primarily childless couples and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Adelaide work in a professional occupation.In 2021, 32.50% of the homes in Adelaide were owner-occupied compared with 32.40% in 2016.
Adelaide has 18,493 properties. Over the last 5 years, Houses in Adelaide have seen a 42.19% increase in median value, while Units have seen a 34.49% increase. As at 30 November 2025:
- The median value for Houses in Adelaide is $1,174,343 while the median value for Units is $580,952.
- Houses have a median rent of $650 while Units have a median rent of $610.
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