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20 Lester Avenue, Ringwood East VIC 3135

Auction: $790,000 - $869,000

Search Band Search Visibility Band

$790k - $869k Low Confidence Calculated based on limited search observations.

House 3 Beds 1 Bath 2 Cars 876 m²

Listed: 3 days ago

Overview

Set on a generous corner allotment of approximately 876 square metres, this classic brick home in Ringwood East presents a unique opportunity for a variety of buyers including first home buyers, developers, builders, and investors. The property's prized corner position and established surrounds add to its appeal, offering excellent redevelopment potential (subject to council approval) and scope for creating multiple dwellings.

While the existing residence retains plenty of original character and provides comfortable accommodation, it is the land's potential that stands out. Hardwood floors throughout enhance the home's charm, and the inclusion of a single lock-up garage with a workshop adds practical storage and functionality. The 45-metre frontage to Wingate Avenue further highlights the property's substantial presence within this sought-after neighborhood.

This location offers convenient access to quality education options such as Tintern Grammar, Tinternvale Primary School, and Ringwood Secondary College, as well as nearby shopping amenities, public transport, and parks, supporting a well-rounded lifestyle.

Impressive 876sqm corner block, offering ample space and development options
Original features including hardwood flooring that enrich the living environment
Single lock-up garage with workshop adds versatility for hobbies or storage
Strong development potential, inviting renovations or redevelopment projects
Highly desirable area with access to schools, shopping, transport, and parks

This property’s combination of land size, corner positioning, and future potential is increasingly rare, making it a compelling prospect for those looking to invest in a secure and promising asset.

Local Market Insights

In Ringwood East, Quiet Listings observed 20 new houses entering the market over the last 30 days, up from 14 during the previous 30-day period, with an average advertised asking price of $1,050,500. The property type mix of listed properties is predominantly Houses at 63%, followed by units (22%), and townhouses (9%). The most active agency for houses in the Ringwood East area is currently Jellis Craig, representing 35% of new listings, followed by Barry Plant 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.