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Overview
This classic residence at 493 Waverley Road in Malvern East offers a substantial opportunity for renovation, restoration, or redevelopment, nestled in a highly convenient and sought-after location.
The property is distinguished by its solid brick facade and enduring period charm, presenting a well-built home with generous proportions. Inside, the living spaces are spacious and filled with natural light, accentuated by timber flooring that adds warmth and character. The living area provides a comfortable environment, while the separate kitchen is functional but primed for contemporary updating, allowing for personalization.
The accommodation includes three well-sized bedrooms and a central bathroom that retains a retro style, reflecting the home’s original character. Large windows throughout the house capture leafy outlooks, fostering a connection with the established surrounds. For practicality, the property includes a lock-up garage and benefits from a right of way at the rear, allowing for quiet rear access and additional flexibility in use.
This property is ideal for buyers seeking a character-filled home with multiple possibilities: whether restoring the existing residence to its former glory, undertaking a significant transformation, or exploring the potential for a completely new build subject to council approvals. The sizable 759 sqm land presents ample scope to create a bespoke family home or a rewarding investment.
Positioned close to Waverley Road’s amenities, local parks—including the Urban Forest reserves—reputable schools, and public transport options, the location offers excellent lifestyle benefits. Additionally, Chadstone Shopping Centre and the wider Malvern East precinct are within easy reach, making this property well suited to families, renovators, and investors attracted by the location's ongoing appeal and opportunities.
Local Market Insights
In Malvern East, Quiet Listings observed 22 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 $2,069,164. The property type mix of listed properties is predominantly Houses at 53%, followed by apartments (27%), and townhouses (12%). Marshall White was the most active agency in this area, representing 22.7% 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
Malvern East VIC 3145
Market Insights for Malvern East VIC 3145
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