23 Benjamin Street
BOUGHT* - Undisclosed
Auctioneer Milo Rasinac consistently rates for me as one of Melbourne's best performers and he didn't let us down here. With University High literally 100 metres away and, no doubt the draw card for the eventual buyer, bidding was slow to get underway after the opening vendor bid of $1,100,000. But once it started the bidding was hot. Three bidders fought it...

Crowd Numbers: 75 people
Bidderman: 5 bidders
 

23 Benjamin Street PARKVILLE

Benefits

Higher positional potential for long term growth
Growth above average metro in last decade
Seemingly low additional cash required after purchase
Higher risk as newer precinct
Good area pricing range meaning lower risk on resale

Concerns

Touches other properties
Below average bathroom size
Bedroom quality an issue
Interrupted floor levels
No separate laundry
James Home Ratings
James Home Ratings
03 9804 3133
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Comments on 23 Benjamin Street PARKVILLE

Homes in Parkville are rare as hens’ teeth, and when they come up are likely to spark plenty of interest among investors, singles and couples wishing to purchase close to the city. While this home is not in the absolute best pocket of Parkville, it is in the triangle between Royal Park, the University of Melbourne and the Royal Melbourne Hospital. This had me really wanting to like the property, and first impressions didn’t disappoint. The home has a frontage slightly broader than the average five metres, and is set amidst rows of pretty terraces on both sides of the street. A recent renovation included a large open-plan living/dining area and a kitchen with oodles of natural light streaming in from a light well, as well as views to the rear entertaining deck. However, two of the bedrooms are disappointing, as they do not have windows but instead depend on skylights for the admission of natural light. The bathroom configuration is also weak, with a small powder room (including a shower) off the hallway acting as the family bathroom. The position of the bathroom eats into the space of the third bedroom, which is further compromised by a small ensuite and adjoining walk-in-robe – neither of which work particularly well. These factors will likely have buyers carefully considering the all-important comfort factor. On the plus side, a garage for one car can be accessed from a good (3.9 metre-wide) laneway. Other concerns are the positioning of the laundry in the garage, and having University High at the end of the street. The question is: how will such factors impact price, given the rarity of the offering?


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3
Bedroom
2
Bathroom
1
Parkings
179sqm
Land Area
Floor Plan Agent

Sold - 3:00pm Aug 17 2013

Quote $1,100,000 - $1,200,000

West Facing

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Advice that Matters

James Buy Sell works across Melbourne’s top-end property market to help our clients make smart real estate decisions.