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Images and floorplans are provided for illustrative purposes and remain the property of their respective copyright owners.

Location
Market Insights for Reservoir VIC 3073
New Listings (last 30 days)
41
Average price
$902,171
Lowest price
$550,000
Highest price
$1,550,000
Other properties in this postcode

37 Excelsior Street, Reservoir VIC 3073

Auction $850,000 - $895,000

Listed: 6 days ago
Overview

This original three-bedroom home in Reservoir offers an attractive opportunity for renovators, builders, or buyers with a clear vision for the future. Its traditional façade and character features such as high ceilings and a bay-windowed front bedroom provide a charming foundation for refreshing and personalising the property.

The home's layout includes a separate family room that flows into the kitchen and meals area, creating a central living hub with flexible potential to be reconfigured to suit modern living preferences. The accommodation spans three bedrooms supported by a central bathroom, while the laundry cleverly incorporates a second shower and toilet, effectively creating an additional bathroom zone. A sunroom at the rear extends the internal living space and opens onto a generous backyard, offering valuable outdoor space for parking additional vehicles, a caravan, or accommodating various outdoor needs.

For those inclined to renovate, the property presents a substantial platform to work from with clearly defined living areas and a spacious rear setting that invites improvement. Alternatively, buyers with a more ambitious plan may explore the potential to rebuild completely, subject to council approvals, allowing a new home to be tailored to the site.

The location adds significant value, with Reservoir and Regent Stations nearby, along with local parks, shopping and dining options at Edwardes Street and Broadway precincts, plus Summerhill Shopping Centre. Easy tram access on Gilbert Road furthers convenience, while the property falls within the zones for Reservoir West Primary School and Preston High School, supporting families seeking proximity to education and transport.

This property caters to those wanting either a functional home to renovate or a promising block for redevelopment, combining flexibility with the benefits of a well-serviced and connected suburb.

Local Market Insights

In Reservoir, Quiet Listings observed 41 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 $902,171. The property type mix of listed properties is predominantly Houses at 47%, followed by townhouses (25%), and units (23%). The most active agency for houses in the Reservoir area is currently Nelson Alexander, representing 32% of new listings, followed by Ray White with 32%. 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.