84 Reed Street, Albert Park VIC 3206
84 Reed Street, Albert Park VIC 3206
4 bedrooms, 4 bathrooms, 2 car spaces. Single-storey house on a residential lot in Port Phillip, with a bushfire overlay. The property is marketed as a renovate, extend or rebuild opportunity, on a street described as one of Albert Park’s most sought-after. It sits one block from the beach and metres from the foreshore.
What is competitively strong here is the land holding on a street with a clear premium for its beach proximity. Four-bedroom houses on this scale are not common in the immediate foreshore strip, and the option to rebuild subject to council approval gives a buyer rare control over the final outcome. The property serves best a buyer who values location over move-in condition and has the appetite to manage a project. It is positioned as a legacy site in a tightly held suburb, where the scarcity of such lots often supports a price floor independent of the dwelling’s current state.
The bushfire overlay may affect insurance premiums and could impose additional construction costs or design constraints if a rebuild is pursued. The current condition of the house is not stated but is implied to be dated, so the buyer should weigh the total cost of renovation or rebuild against the finished value for this street. The presence of smaller units in the same street may influence lot density perceptions, though the house sits on its own residential lot. The price point reflects the location premium, not the dwelling’s condition, so the buyer’s view on budget should account for significant capital works ahead.
Detailed Independent Property Report prepared by PropCred Analyst team for 84 Reed Street, Albert Park VIC 3206
Checks found:
Value Risk
2
Liquidity Risk
Planning Risk
Income Risk
1
Execution Risk
1
URL has been copied successfully!
Market Insight
Albert Park presents a mature, established market with a clear divergence between its house and unit segments. Demand is anchored by owner-occupiers, predominantly families and downsizers, drawn to its stable, high-value residential character. While houses demonstrate steady capital growth with strong sales volumes, the unit market has experienced significant price corrections, indicating a notable oversupply or demand shift. Future growth for houses is underpinned by limited stock and high owner-occupancy, though the unit segment’s weakness remains a key market risk.
URL has been copied successfully!
PropCred Estimated Value
Bedrooms
4
Bathroom
4
Parking
2
Land
288m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
·
Reviewed by Matt Proctor, Principal Analyst
URL has been copied successfully!