172 Albert Street Preston VIC 3072

Heritage freestanding house | 639sqm land | flexible 4-5 bed layout | dual-living potential | opposite reserve This property offers a rare combination of a substantial landholding and a fully updated heritage dwelling in a tightly held Preston pocket. The flexible bedroom count, separate entrance to one room, and workshop with kitchenette create genuine dual-living or home-business potential, which broadens the buyer pool and supports price resilience. The gourmet kitchen, in-floor wine cellar, and restored period features mean the house competes with new builds on comfort while retaining irreplaceable character. It suits a family seeking long-term hold with space to adapt, or an investor targeting owner-occupier appeal. The land size discrepancy between records requires a title search before commitment, as a smaller site would reduce redevelopment optionality. The carport-only parking is a limitation for multi-car households. The EOI campaign with a wide guide suggests vendor expectations may be aspirational relative to the Domain estimate; a pre-auction offer below the guide could test genuine interest. The property holds well as a generational family home or could be held for future subdivision if zoning permits, but the current configuration already delivers strong utility without further capital.