2/35 Illuka Cres Mount Waverley VIC 3149

Four-bed townhouse on large 904m² block | Prime Mount Waverley location | No overlays | Strong school catchments This property presents a competitive configuration, offering the space of a house on a substantial block within a sought-after suburb. The four-bedroom, three-bathroom layout with a single garage is best suited for a family seeking entry into the high-performing Glen Waverley Secondary College zone without the premium for a detached home. Its lack of development overlays simplifies potential future renovation or extension. The primary risk is valuation ambiguity, with a wide gap between listed price guides and lower automated estimates, exposing buyers to overpayment at auction. The single car space may limit multi-vehicle families. Proceed only if the price aligns with verified recent sales of similar townhouses on large land parcels, not detached houses. A strategic hold for long-term capital growth is advised, leveraging the land component. Our report validates this price against true comparable sales, details locality risks like zoning, and identifies building inspection priorities. Adjacent property at 35 Illuka Cres, a three-bedroom house on a similar 900m² block, has an estimated value of $1,645,000. This indicates the subject townhouse, while offering more bedrooms and bathrooms, should trade at a discernible discount due to its attached nature, anchoring its value below that of a standalone house on equivalent land.