A Little Cottage with Big Potential in Sought-After Regent!

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1/708 Gilbert Road, Reservoir VIC 3073

Auction

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$300k - $330k Low Confidence Calculated based on limited search observations.

Unit 1 Bed 1 Bath 1 Car 86 m² 28 m²

Listed: 23 hours ago

Overview

This standalone, single-storey villa unit situated in the highly desired Regent area of Reservoir offers a distinct street-front presence that brings a unique charm often absent in boutique developments. Benefiting from its own direct street access, this property provides a rare sense of independence and freedom within a small cluster of just four residences.

The home presents an excellent blank canvas for buyers who appreciate the potential to renovate and personalise their living space. The accommodation currently comprises a modest yet functional one-bedroom layout featuring an ensuite bathroom, ideal for those prioritising privacy and convenience.

Enhanced by timber floorboards and a welcoming living area, the residence extends its living space outdoors with a private side courtyard, providing tranquil outdoor retreat opportunities. An off-street single car space located at the rear further adds to the practicality and convenience of the property.

Beyond the property itself, the location boasts excellent connectivity and lifestyle appeal. Gilbert Road's tram services are within easy reach, facilitating smooth transport options, while a vibrant array of cafes, eateries, and shopping precincts including Preston Market and Edwardes Street make for an engaging local environment. The popular Edwardes Park Lake also offers recreational options nearby.

Free from body corporate fees, this unit offers economical and straightforward ownership, making it an appealing choice for first homebuyers, investors, or renovation enthusiasts seeking to unlock value and tailor the property to their tastes and needs.

Local Market Insights

In Reservoir, Quiet Listings observed 26 new units entering the market over the last 30 days, up from 17 during the previous 30-day period, with an average advertised asking price of $591,846. The property type mix of listed properties is predominantly Houses at 44%, followed by townhouses (27%), and units (26%). The most active agency for units in the Reservoir area is currently Nelson Alexander, representing 27% of new listings, followed by Ray White with 27%. 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.