4 Primula Avenue, Brooklyn VIC 3012

4 Primula Avenue | 4-bed 1960’s house | $790K-$850K guide | Auction 30 May | Development upside meets 2025 market risk The offer price range sits below the 2018 sale of $910,000, which signals market softening or condition discounting. A buyer paying near $850,000 faces holding costs for a 1960s build with no recent upgrades, and renovation spend will narrow the margin to replacement cost. The real commercial logic is the combined 1,356m² site with 8 townhouse concept drawings—but this requires securing 2 Primula Avenue first, adding acquisition and council approval risk. For a standalone buyer, this is a hold-for-land or development-option play, not a turnkey family home. What is genuinely rare here is the land-to-building ratio: 675m² with only 43% coverage leaves deep side and rear space, unusual in Brooklyn’s newer subdivisions. No heritage or flood overlays remove two common delay risks for redevelopment. FTTP and 5G coverage support remote work flexibility. This property best serves a buyer with patient capital looking to hold for land appreciation or execute a dual-site development with a partner. The auction date is fixed—engage a building inspector before bid day, and test council appetite on the concept plans directly.