SOLD
RECENT ADVICE
Sold on 11 Nov 2024 for $845,000

87 Rathcown Road
Reservoir VIC 3073

Bedrooms: 3
Bathrooms: 1
Car spaces: 2
Land area: 743m2
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Property Details for 87 Rathcown Rd, Reservoir

87 Rathcown Rd, Reservoir is a 3 bedroom, 1 bathroom House with 2 parking spaces. The property has a land size of 743m2. While the property is not currently for sale or for rent, it was last sold in November 2024. There are other 3 bedroom House sold in Reservoir in the last 12 months.

Building Type
House
Land Size
743m2
Local Government
Darebin
Lot/Plan
5/LP53243

Last Listing description (November 2024)

SOLD BY Morrison Kleeman - Located in the thriving suburb of Reservoir, this large and versatile flat block of approximately 743 sqm offers endless possibilities. The existing weatherboard home is highly liveable, featuring three generous bedrooms, including a large master, a centralised bathroom, a spacious kitchen ideal for family meals, and a sun-drenched lounge that provides plenty of room for relaxing and entertaining.

A long driveway leads to a lock-up garage and additional garden shed, offering ample storage space and potential for a home workshop. The low-maintenance garden, complete with established fruit trees, creates a peaceful setting to enjoy the summer months.

For builders or developers, the property comes with approved plans and permits for three dwellings. These include two three-bedroom homes and one four-bedroom home. Designed for modern living by award-winning C. Kairouz Architects of Thornbury, each dwelling features double car garages, spacious interiors, and clever design elements that meet and exceed the expectations of today’s market.

The home is currently tenanted, providing a steady income stream and flexibility for builders and developers to proceed at their own pace.

This is a rare opportunity to secure a property with potential for both immediate rental returns and long-term development gains.

So whether you plan to buy now and enjoy, build now or build later, this property is not to be missed, schedule an appointment to view today.

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Property History for 87 Rathcown Rd, Reservoir, VIC 3073

A timeline of how this property has performed in the market
Last Sold
$845,000
11 Nov 2024
Listed for Rent
$425/w
16 Mar 2021
  • 07 Nov 2024
    Sold for $845,000
  • 09 Oct 2024
    Listed for Sale ESR: $780,000 - $850,000
  • 09 Mar 2021
    Listed for Rent $425 / week
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About Reservoir 3073

The size of Reservoir is approximately 18.9 square kilometres. It has 45 parks covering nearly 8.8% of total area. The population of Reservoir in 2011 was 47,636 people. By 2016 the population was 50,455 showing a population growth of 5.9% in the area during that time. The predominant age group in Reservoir is 30-39 years. Households in Reservoir are primarily couples with children and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Reservoir work in a professional occupation. In 2011, 62.5% of the homes in Reservoir were owner-occupied compared with 59.3% in 2016.

Reservoir has 28,604 properties. Over the last 5 years, Houses in Reservoir have seen a 18.33% increase in median value, while Units have seen a 18.50% increase. As at 31 October 2024:

  • The median value for Houses in Reservoir is $914,960 while the median value for Units is $603,893.
  • Houses have a median rent of $530 while Units have a median rent of $500.
There are currently 193 properties listed for sale, and 64 properties listed for rent in Reservoir on OnTheHouse. According to CoreLogic's data, 1050 properties were sold in the past 12 months in Reservoir.

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Lucas Peressini
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Morrison Kleeman Eltham | Greensborough | Doreen
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