2 Parkview Street Airport West VIC 3042

Fully renovated 5-bedroom | 530sqm block Airport West | Self-contained studio adds flexibility | Auction guide well above recent estimates | NBN FTTP and 5G coverage. The buying case rests on the rarity of a fully renovated five-bedroom family house on a usable 530sqm lot in Airport West, where the suburb median sits near $1m and auction clearance rates are strong at 75%. The self-contained studio with kitchenette and ensuite is a genuine configuration edge—it can serve as multigenerational accommodation, a home office, or a rental income stream, which broadens the buyer pool and supports price resilience. The property is best suited to a family seeking a long-term home with space for teenagers, parents, or work-from-home needs, and who value the convenience of nearby schools, parks, and shopping without relying on a car for every errand. The primary risk is the wide gap between the $2m–$2.2m auction guide and recent pre-renovation estimates of $1.2m–$1.33m. While the renovation is extensive, the buyer must verify whether the upgrade cost justifies the premium and whether the local market will absorb that price point, given the suburb’s median is roughly half the guide. The opportunity lies in the property’s flexibility: if the auction clears below the guide, the buyer gains a turnkey home with income potential. For a buyer, this property should be held as a long-term family residence, with the studio offering optional rental yield to offset holding costs.