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Overview
Set on a substantial 736 square metre block with an impressive 20.1-metre frontage, this unique property in Reservoir affords an exceptional prospect for a wide range of buyers including investors and developers.
The site hosts two freestanding, self-contained residences, each benefitting from plentiful off-street parking and generous outdoor spaces. This versatility offers potential for strong dual rental income or a redevelopment opportunity subject to council approval.
Located in a desirable and convenient area, the property benefits from close proximity to an array of quality amenities and educational institutions. Families and students will appreciate easy access to Reservoir East Primary School, Reservoir High School, the Northern College of the Arts & Technology, and La Trobe University.
Shopping needs are well catered for by nearby centres including Summerhill Shopping Centre featuring major supermarkets, Northland Shopping Centre, and Bunnings Warehouse. Medical services are also conveniently close.
Beyond amenities, the locale offers appealing lifestyle and transport options with local parks such as McComas Street Playground, athletic fields, and excellent connectivity through the Plenty Valley Highway and train stations at Thomastown and Thornbury, providing a direct transit route to Melbourne's CBD.
This adaptable property presents a strategic opportunity to secure a valuable asset in a highly accessible and amenity-rich pocket of Reservoir.
Local Market Insights
In Reservoir, Quiet Listings observed 46 new houses entering the market over the last 30 days, up from 35 during the previous 30-day period, with an average advertised asking price of $1,000,870. The property type mix of listed properties is predominantly Houses at 42%, followed by townhouses (31%), and units (19%). Ray White was the most active agency in this area, representing 30.4% 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
Reservoir VIC 3073
Market Insights for Reservoir VIC 3073
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