309/388 Murray Road, Preston VIC 3072
309/388 Murray Road, Preston VIC 3072
This is a two-bedroom, two-bathroom apartment with a study nook, large balcony, and one secure car space. It is one of the largest floorplans in a contemporary complex, located 200 metres from Preston Station.
What is competitively strong about this property is its rare combination of size and location. It occupies one of the larger floorplans in the building, a genuine advantage in a market where many two-bedroom apartments feel cramped. The master suite includes a walk-in wardrobe, ensuite, and study nook, which is uncommon for an apartment of this type. Being 200 metres from the train station and within walking distance of Preston Market and the food truck park places it in one of the suburb’s most connected pockets. This property best serves a buyer who wants modern finishes and generous internal space without sacrificing immediate access to transport and daily amenities. Its floorplan and position give it a clear edge over typical apartment stock in the area.
Several factors may materially affect the value or sale price of this property. The building has reported defects, including a basement carpark leak and cladding issues, which could lead to special levies or impact buyer sentiment. A high volume of sales within the block may indicate strata concerns or an underfunded sinking fund. Prospective buyers should weigh the premium for the large floorplan and location against the potential cost of future repairs. The pet-friendly policy broadens the pool of potential tenants or owners, which may support rental demand and resale interest. A thorough review of strata records and the sinking fund balance is advised before forming a final view on price.
Detailed Independent Property Report prepared by PropCred Analyst team for 309/388 Murray Road, Preston VIC 3072
Checks found:
Value Risk
Liquidity Risk
2
Planning Risk
1
Income Risk
1
Execution Risk
1
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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
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Reviewed by Matt Proctor, Principal Analyst
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