87 Grosvenor Street, Balaclava VIC 3183

Renovated 3-bed house on 38m² | Flood overlay present | North light and off-street parking | City-edge lifestyle with school zoning This property is a competitively strong inner-urban house defined by its renovation quality, parking for two cars, and northern light on a very compact site. Its 38m² land size is unusually small for a detached house, which positions it as a lifestyle-focused residence rather than a land-driven investment. It is best suited to owner-occupiers seeking a low-maintenance, city-edge home with access to village amenity and school zoning. The property sits in a suburb of mixed housing stock, and its value is driven more by location, fitout, and parking than by land content. The flood overlay noted for this property may affect insurance costs and restrict future redevelopment or extension potential, which should be weighed when forming a view on price. The small land parcel also limits outdoor space and flexibility for structural changes, so the property’s appeal depends heavily on the quality of the existing renovation and ongoing maintenance. A buyer might also consider the flood management planning control as a factor that could influence long-term resale demand.