16 Borva Drive, Keilor East VIC 3033

Classic sixties home | wider lot | pool | 3+3 car | 34-year ownership This property presents a competitively strong proposition based on its land configuration and established character. The wider-than-usual 659m² lot with a 304m² footprint offers immediate scarcity value in the suburb, providing a tangible platform for future expansion or outdoor living that newer townhouses cannot match. Its classic, light-filled presentation and 34-year ownership history signal a well-maintained structure without the premium of a full renovation, positioning it ideally for a buyer seeking a liveable family home with inherent capital growth in the land. The presence of a swimming pool and substantial garaging for three cars further differentiates it from standard offerings, catering specifically to families or those valuing space and lifestyle amenities over a turnkey finish. Proceed with the understanding that its value is almost entirely land-driven, with the building itself representing a depreciating component that will require capital expenditure over the medium term. The listing price range sits notably below automated valuation models, suggesting a motivated vendor, but the final cost must account for modernisation of the single bathroom and potentially the 1960s core. The commercial logic is clear: acquire the scarce land asset with a functional dwelling, secure immediate rental income to offset holding costs if required, and plan a staged renovation. This property is a hold-and-improve proposition; its highest utility is realised by an owner-occupier who will capitalise on the space over time, or an investor with a long-term land banking outlook who can tolerate lower initial yield for land appreciation. Comparable listings in Keilor East indicate a segmented market: * 1 College Parade (3 bed, 2 bath townhouse): $900,000–$990,000 * 44A & 44 Borva Drive (4 bed, 3 bath townhouses): $1,350,000–$1,450,000 This context underscores the subject property’s pricing as a detached house on a large lot, positioned below newer townhouses but offering fundamentally different asset value. The price reflects the dated condition against the premium commanded for modern, high-specification townhouse living.