292 Esplanade East
PASSED IN - $1,375,000
This freestanding timber home in one of Port Melbourne's better streets presented a pretty back drop to auctioneer Greg Hocking. Unlike earlier auctions I attended, it was necessary for Greg to open with a vendor bid of $1,350,000. Back to the bad old days as half-time was called with out a bid. Half-time did the job and a bid of $1,360,000 was made before a...

Crowd Numbers: 75 people
Bidderman: 2 bidders
 

292 Esplanade East PORT MELBOURNE

Benefits

Higher positional potential for long term growth
Growth above average metro in last decade
Good rental prospects
Seemingly low additional cash required after purchase
Lower risk as established precinct

Concerns

Restricted or no car access
Poor car garaging
Mal James
Mal James
0408 107 988
[email protected]

Comments on 292 Esplanade East PORT MELBOURNE

With its pretty facade and extra wide frontage, this free-standing single-fronted period property has good street appeal. The extra width - 6 metres, when most single-fronters are 5 metres - improves the internal feel of the home, making the bedrooms and family room that much bigger. The property has been recently renovated and whilst the floorplan follows a tried and true template the overall feel is a good one. The property will appeal to couples, families with young children and investors. Baby Boomers looking for smaller single-level properties to retire into, are also entering this market in larger numbers and having an impact on prices. With only one living space, the long term flexibility of this property is limited for families with young children. Whilst the property has the potential for rear car access the landscaping of the back yard currently makes this impossible. You could however modify the landscaping to the courtyard and get your car off the street if you wanted to. Careful consideration has been given to improving the light into the south-east facing kitchen/family room with a vaulted ceiling that includes additional windows. This is one of Port Melbourne’s better streets and, with its proximity to Bay Street adding to its appeal, this property is hard to fault for its type.


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3
Bedroom
2
Bathroom
0
Parkings
214sqm
Land Area
Floor Plan Agent

Sold - 1:30pm Feb 23 2013

Quote $1,300,000+

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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.