9 Coomleigh Avenue, Glen Waverley VIC 3150

3 bed, 1 bath original home | 778sqm land in Glen Waverley | private sale, not auction | potential renovation opportunity | family-friendly school catchment. This property offers a rare entry point into a suburb where the median house price exceeds $2.48m, making its estimated value of $1.64m a significant discount. The 778sqm lot on a quiet residential street with 47 properties provides scarcity in a market where land size is a primary value driver. The original condition, similar to 21 Coomleigh Avenue, allows a buyer to add value through renovation without paying a premium for someone else’s work. It suits an owner-occupier seeking long-term capital growth or a developer targeting the gap between this price and the local median. The main risk is the single bathroom and the property’s age, which may limit immediate appeal to families and require upfront capital for upgrades. The 53% auction clearance rate in Glen Waverley suggests a cautious market, but a private sale removes auction pressure and allows negotiation. The opportunity is to renovate the bathroom and modernise the interior, then hold for at least five years to capture the suburb’s natural appreciation. Use the land as the primary value driver and treat the house as a functional shell to be improved over time.