FOR SALE
$800,000 - $850,000

283 Bell Street
Preston VIC 3072

Bedrooms: 3
Bathrooms: 1
Car spaces: 2
Floor area: 194m2
Land area: 464m2
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Development Potential with Rental Income or Renovation Dream for First Home Buyers

Unlock the potential of this premium site in a vibrant and highly sought-after location. This property offers developers an unparalleled opportunity to create something truly special, while also being ideal for first home buyers looking to renovate and make it their own.
Key Features:
- Generous Land Size: A substantial land parcel, perfect for multi-unit development (STCA) or a spacious family home.
- Strategic Location: Situated on bustling Bell Street, with easy access to public transport, shopping precincts, and major arterial roads.
- Strong Rental Yield: The existing structure provides excellent rental income, offering immediate cash flow as you plan your development or renovation.
- Endless Possibilities: Developers can retain and renovate or redevelop into a lucrative multi-residential project, while first home buyers have the chance to transform this property into their dream home.
- High Demand Area: Preston's rapid growth and transformation make this a prime spot for residential or mixed-use development, with strong appeal to both investors and homeowners.
This is a rare chance to secure a significant piece of Preston's future. Whether you're a developer seeking a profitable project or a first home buyer eager to create your perfect space, this property offers the best of both worlds.
Land size: 453m2 approx
Deposit: 10% of the purchase price
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Property Details for 283 Bell St, Preston

283 Bell St, Preston is a 3 bedroom, 1 bathroom House with 2 parking spaces. The property has a land size of 464m2 and floor size of 194m2. The place is currently for sale with Ray White Bundoora.

Building Type
House
Floor Size
194m2
Land Size
464m2

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About Preston 3072

The size of Preston is approximately 11.5 square kilometres. It has 30 parks covering nearly 4.7% of total area. The population of Preston in 2011 was 29,925 people. By 2016 the population was 32,865 showing a population growth of 9.8% in the area during that time. The predominant age group in Preston is 30-39 years. Households in Preston are primarily couples with children and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Preston work in a professional occupation. In 2011, 60.2% of the homes in Preston were owner-occupied compared with 56.7% in 2016.

Preston has 21,005 properties. Over the last 5 years, Houses in Preston have seen a 16.22% increase in median value, while Units have seen a 10.13% increase. As at 30 November 2024:

  • The median value for Houses in Preston is $1,135,746 while the median value for Units is $616,510.
  • Houses have a median rent of $600 while Units have a median rent of $520.
There are currently 65 properties listed for sale, and 39 properties listed for rent in Preston on OnTheHouse. According to CoreLogic's data, 772 properties were sold in the past 12 months in Preston.

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Hilda Leong
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Andrew Mizzi
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Ray White Bundoora
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