28 White Way, Bulleen VIC 3105

Corner north-facing block | 688m² land in blue-chip precinct | priced below estimated value | zoning for established schools This property presents a compelling proposition based on its underlying land attributes rather than its existing improvements. The north-facing corner allotment of 688 square metres is a competitively strong configuration within Bulleen, offering superior orientation and a substantial, usable parcel that is above the typical inner-suburban footprint. This physical positioning creates rare potential for light, access, and future reconfiguration, serving a buyer whose strategy prioritises land banking, substantial renovation, or eventual redevelopment in a proven family-centric locale. The current asking price sits below the estimated market value, indicating a negotiated entry point, while the zoning for Belle Vue Primary and Templestowe College anchors its appeal to a core demographic. The decision hinges on accepting the cost of realising the latent potential, as the existing house contributes less to the price. The primary risk mechanism is the capital and time required to unlock the land’s value, whether through renovation or holding, against a yield from the existing dwelling that is merely serviceable at approximately 2.8%. The commercial logic is clear: acquire a scarce, well-oriented parcel in a stable precinct at a discount to estimated worth, then hold for capital growth driven by land scarcity or invest to improve the dwelling’s income. This property is a hold-and-improve or hold-and-develop play; its value is not in its immediate condition but in its secured future optionality. * 1B Rose Avenue, Bulleen * 1/1 Stanley Street, Bulleen * 32A Alfreda Avenue, Bulleen * 254 Thompsons Road, Templestowe Lower * 55 Jacana Avenue, Templestowe Lower * 6 Latrobe Street, Bulleen * 2 Totara Court, Templestowe Lower * 16 Panorama Court, Bulleen * 1A Joseph Street, Templestowe Lower * 84 Swanston Street, Bulleen * 35 Cuthbert Street, Bulleen * 98 Manningham Road, Bulleen * 21 Furneaux Grove, Bulleen * 33 Walter Street, Bulleen * 79A Latrobe Street, Bulleen * 13 Walter Street, Bulleen * 43 Kenneth Street, Bulleen * 8 Lowan Avenue, Templestowe Lower This volume of recent nearby sales activity provides a robust sales evidence base for the suburb, confirming strong market liquidity. The list underscores that this property competes in an active segment, though the specific corner block and larger land size should command a premium over standard lots reflected in those transactions.