2 First Avenue, Murrumbeena VIC 3163

3-bed house on small land | 3-car parking surplus | no overlays | Carnegie Primary zone | 5G coverage This property presents a competitively strong entry into the Murrumbeena house market, leveraging its three-car parking configuration-a surplus against the area’s typical two-space provision-on a streamlined 333m² lot. The absence of bushfire, flood, or heritage overlays removes development friction and insurance complexity, making it a straightforward, developable residential holding. It serves the family buyer seeking a low-maintenance land parcel within the Carnegie Primary School zone, or the investor-builder eyeing a future townhouse site, given the council’s residential zoning and the lot’s efficient dimensions. The current price positioning below recent sales for comparable three-bedroom houses indicates a deliberate market entry point. The primary risk is the compressed land size relative to premium houses in the street, which caps long-term land value appreciation against larger-block neighbours and may challenge resale to buyers seeking traditional garden space. The opportunity lies in acquiring a functional house with above-average parking at a price point that reflects its land constraint, providing immediate utility with a clear future development pathway. The commercial logic is to hold for medium-term capital growth driven by location and scarcity of houses, then develop or sell to a builder. Treat this as a strategic land bank with current rental income, not a forever home; its highest utility is as a transitional property. Recent sales demonstrate the price premium for houses in this configuration: – 1/22 Rosella St (306m², 3 bed, 3 bath, 2 car) sold for $1,595,000 in Feb 2026. – A comparable (330m², 3 bed, 2 bath, 3 car) sold for $1,452,500 in Dec 2025. – 4 First Ave (442m², 4 bed, 3 bath, 3 car) sold for $1,907,000 in Nov 2025. This sales evidence anchors the subject property’s listed range as a credible market entry, particularly given its superior parking to the Rosella Street sale. The data confirms that three-bedroom houses on lots around 330m² are transacting firmly above $1.45 million, making the vendor’s asking range appear competitively placed to attract buyer interest.