22 Washington Avenue MALVERN EAST

Comments on 22 Washington Avenue MALVERN EAST

Price: The SOI range is $2m - $2.2m and at this level it seems a conservative market price. This lovely tree-lined street has a history of volcano auctions with the most recent one being at 7 Washington which had 5 bidders on 22 February and sold for $2,300,500 but that was a different market.
 
Property:  Although the home is move-in ready, it has a disrupted flow, especially at the entrance and to the main bedroom suite - it could be argued some of the bedrooms are small. However, the floorplan does provide flexibility for multi-generational living and entertaining and there is accommodation for an au pair/ grandparents/overseas guests and to have a home office with its own external entrance if needed. 

Please note 22 Washington is in a flood zone and any external work may well require height changes to floor according to Council Overlay. However, Melbourne Water says it is NOT in a drainage flood zone. Not all of this has been mentioned in the Section 32. It should be assumed there is a chance of flooding and you should contact your insurance company to see if premiums apply and speak to council to see if your renovations are possible. It is also in a neighbourhood character zone - meaning renovation may require additional permits.
 
Position: Malvern East is a very large suburb and although this precinct could rate a B overall, in this precinct Washington is the street. It’s a practical position being walking distance to both Carnegie shops and train as well as Waverly Rd tram and shops.

Overall this home is a little underwhelming, however, the market is tight for stock and this price point is particularly hard to find. Makes sense to own it as is - once council and insurance checks have been done and then at a fair market price.