60 Story Street, Parkville VIC 3052

Heritage-overlaid Parkville terrace | University High catchment | Rare three-bedroom footprint | Tightly held city-fringe This property occupies a highly sought-after position within one of Melbourne’s most tightly held inner-city enclaves, where period character and immediate access to Royal Park, the university precinct, and the CBD converge. The three-bedroom configuration on a 165-square-metre allotment is considered genuinely scarce in this heritage-overlaid pocket, and the inclusion of two bathrooms and an indoor-outdoor living arrangement elevates it beyond the typical Victorian terrace. Strong buyer demand is driven by the University High School zone, which consistently commands a premium, while the FTTP and 5G connectivity add modern utility without being primary value drivers. This residence is best suited to an owner-occupier seeking a long-term family home or a professional couple prioritising location and lifestyle over maximum floor area. The heritage overlay imposes clear constraints on external alterations and any significant extension, meaning the existing footprint is effectively locked in unless council permits are obtained—a process that is neither guaranteed nor swift. The current asking range sits notably above recent automated estimates, reflecting the premium assigned to school zoning and land scarcity, but also requiring the buyer to underwrite additional location-driven value. Renovation potential exists primarily internally, where reconfiguration of the existing 215-square-metre building could improve flow and amenity without triggering heritage scrutiny. For an investor, the yield would be constrained by the purchase price and limited scope to add value, so this property remains overwhelmingly an owner-occupier proposition with strong capital growth prospects tied to its irreplaceable address.