Prime Bayswater Corner - 725m² with Exciting Four-Unit...

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Property in Bayswater VIC 3153

$990,000 - $1,089,000

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$990k - $1.04M Transparent Transparent Listing Based on an openly advertised listing price.

House 3 Beds 1 Bath 5 Cars 725 m²

Listed: yesterday

Overview

Set on a substantial 725m² corner allotment in Bayswater, this property presents a unique opportunity for those seeking both immediate accommodation and potential development prospects. The existing three-bedroom home is well maintained, making it suitable for living in or renting out while planning future enhancements.

The land benefits from council-approved removal of easements and two nature-strip trees, ensuring ease of access and clear development paths. Prepared plans are in place for four two-bedroom units, providing a strong foundation for developers, although there is flexibility to explore alternative designs such as four townhouses with three or four bedrooms each, subject to council approval.

This property is especially suited for homebuyers, investors, builders, or developers who value strategic location combined with growth potential. The corner position enhances its appeal for multi-dwelling development, providing various avenues to maximize the site's value according to individual needs and vision.

Prime 725m² corner allotment offering notable development potential.
Well-kept three-bedroom home ready for immediate occupation or rental income.
Land is easement-free following council approvals, simplifying development possibilities.
Council endorsement to remove trees to facilitate multiple crossovers.
Existing plans for four two-bedroom units assist in planning and approval processes.
Flexibility to consider alternative townhouse designs to suit market demand.

Overall, this property balances lifestyle practicality with an exciting blueprint for future expansion, making it an appealing proposition for a range of prospective buyers.

Local Market Insights

In Bayswater, Quiet Listings observed 13 new houses entering the market over the last 30 days, up from 9 during the previous 30-day period, with an average advertised asking price of $908,077. The property type mix of listed properties is predominantly Houses at 52%, followed by townhouses (28%), and units (12%). The most active agency for houses in the Bayswater area is currently Ray White, representing 38% of new listings, followed by Jellis Craig with 15%. 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.