38 Stewart Street, Boronia VIC 3155

Large 2304m² block | 5% building coverage | Boronia K-12 College zone | Knox council area The property’s primary buying case rests on its exceptionally low building coverage of 5% on a 2304m² parcel, which is rare in suburban Melbourne and signals significant redevelopment or subdivision potential under current zoning. The Boronia K-12 College catchment adds family buyer demand, while the absence of bushfire, flood, or heritage overlays reduces approval risk for future work. This configuration best suits developers, investors seeking land-banking opportunities, or buyers wanting a large private compound with room to extend or rebuild. The main risk is that the existing 122m² house is small and dated, requiring substantial capital to improve or replace, and the single bathroom limits immediate family appeal. However, the 10m roof height and 131m elevation offer design flexibility for a two-storey replacement with views, and the Knox council area typically supports medium-density applications. The property’s value is tied to land rather than dwelling condition, so buyers should budget for demolition or major renovation costs while capitalising on the land’s scarcity.