313/388 Murray Road, Preston VIC 3072
313/388 Murray Road, Preston VIC 3072
Two-bedroom, two-bathroom apartment with one parking space, positioned in a garden-facing, peaceful location. The residence offers an open-plan living and dining area flowing to an entertainers balcony. The kitchen is equipped with stainless steel appliances. The main bedroom includes an ensuite, walk-in robe, and private balcony. A second bathroom serves the additional bedroom. The unit is part of a larger development on approximately 5,275 sqm of land.
The two-bathroom configuration is a notable advantage in this market, offering flexibility for sharers or guests that many competing units lack. The garden-facing aspect reduces noise and enhances privacy, while the entertainers balcony extends the living space. This property is positioned as a low-maintenance option in a well-connected part of Preston, close to transport and amenities. It is best suited to buyers seeking a modern, lock-and-leave lifestyle without compromising on space or separation. The quality of finishes and the separate ensuite in the main bedroom add a level of comfort that is not commonly found in entry-level apartments.
Building maintenance issues within the complex, such as a reported basement carpark leak and cladding concerns, may introduce future special levies or affect long-term value perception. The land size reflects the entire development, not the units exclusive holding, which limits land ownership benefits. These factors should be weighed when considering the propertys overall appeal and potential costs.
Detailed Independent Property Report prepared by PropCred Analyst team for 313/388 Murray Road, Preston VIC 3072
Checks found:
Value Risk
1
Liquidity Risk
1
Planning Risk
Income Risk
1
Execution Risk
2
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Market Insight
Preston is a well-established, family-oriented suburb with strong professional demographics and excellent connectivity to Melbourne’s CBD, underpinning steady demand. The market is primarily driven by owner-occupying families, reflected in robust house sales and stable capital values, while the unit segment presents a more varied performance. Recent conditions show houses transacting efficiently, supported by rental growth, though modest price appreciation and divergent unit trends indicate sensitivity to broader economic factors. Future appeal is anchored in its infrastructure and established character, with the key constraint being the softer performance of the apartment market.
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PropCred Estimated Value
Bedrooms
2
Bathroom
2
Parking
1
Land
1.3 acres
Research & Review
Prepared by Steve Dalton, Senior Analyst
·
Reviewed by Matt Proctor, Principal Analyst
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