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Overview
This property presents a prime development opportunity in the heart of Box Hill, situated within the highly sought-after Residential Growth Zone Schedule 1 (RGZ1). The land offers exceptional potential for multi-unit or townhouse developments, or alternatively, the chance to build your dream home, subject to council approval (STCA). It is also an excellent renovation opportunity for families looking to enhance a charming existing home.
Conveniently located, the property is just a five-minute walk to Box Hill station, Box Hill Central Shopping Centre, and a variety of cafes and restaurants. A short drive provides access to Box Hill TAFE, Box Hill Hospital, Box Hill High School, and a range of prestigious private schools and sporting facilities.
The existing site currently offers solid investment potential, appealing to renovators and investors alike. The property features a north-facing backyard and multiple living zones, enhancing its appeal and functionality.
The front house is a charming two-bedroom residence with built-in robes, a spacious lounge featuring recently replaced wall-to-wall carpet, ducted heating, and air conditioning. The modern kitchen is equipped with a gas cooktop, electric oven, and dishwasher, providing a comfortable and practical living environment.
At the rear, there is a one-bedroom unit with an ensuite, separate lounge, kitchen, and laundry, offering additional accommodation options or rental income potential.
The combined current rental income from both the front house and rear unit is approximately $45,364 per annum, with high demand ensuring immediate re-letting upon vacancy.
The location is ideal for easy access to the hospital precinct, TAFE, city-bound train services, trams to elite private schools, and buses to Deakin and Monash Universities. The property is zoned for Box Hill High School and is close to Aqualink, Kingswood College, and Our Lady of Sion College, making it an attractive option for families and investors.
Please note that further information about the property may be withheld unless full contact details, including phone number, are provided. Photo identification is required upon entering the property.
Local Market Insights
In Box Hill, Quiet Listings observed 17 new houses entering the market over the last 30 days, up from 15 during the previous 30-day period, with an average advertised asking price of $1,560,000. The property type mix of listed properties is predominantly Apartments at 46%, followed by houses (25%), and townhouses (17%). Ray White was the most active agency in this area, representing 15.3% of all new listings in the last 30 days. These insights are based on agencies currently monitored by Quiet Listings and are updated as the local market changes.
While every effort is made to ensure the accuracy and completeness of the property information provided, no guarantee is given. Buyers should independently verify all details, inclusions, availability, pricing, and other relevant information directly with the listing agent before relying on this information.
Location
Box Hill VIC 3128
Market Insights for Box Hill VIC 3128
Other properties in this postcode
* Search brackets are a technical classification derived from unverified metadata set by the listing agent for search filtering. It is not an official price guide, a valuation, or a representation of the seller's reserve. This data is provided for search transparency purposes only.
