4 Kelley Grove Preston VIC 3072

Art Deco heritage home | 467m² land in central Preston | 3 beds, 1 bath | walking to trams & cafes | high rental demand. This property presents a competitively rare offering, combining a character-filled, single-level home on a substantial block within an established inner-city locale. Its heritage overlay protects streetscape appeal, while modern updates like split-system climate control and a modern kitchen ensure livability. The configuration best serves a young family or downsizer seeking a low-maintenance, land-rich property with immediate access to transport, parklands, and thriving local amenities. The primary decision factors are the single bathroom layout, which caps broader buyer appeal, and the heritage controls, which limit renovation scope and add complexity to any future development. The opportunity lies in securing a scarce, larger block in a high-demand suburb, offering solid rental yield fundamentals and long-term capital growth driven by land value. Acquire as a long-term hold. A Propcred report would ground your offer with precise comparable sales analysis, clarify heritage overlay obligations, and assess locality-specific insurance risks. Nearby, 4 Spark Grove, a similar house on 485m², carries an estimated value of $1,246,000. This benchmark suggests strong underlying land value for this subject property, reinforcing its position within the premium segment of the local market.