5/33 Storey Road, Reservoir VIC 3073
5/33 Storey Road, Reservoir VIC 3073
This is a 2-bedroom, 1-bathroom flat apartment built in 2009 on a 150m² lot with 100m² of internal space and one garage space. It sits in a residential zone in Reservoir with no bushfire, flood, or heritage overlays.
This property is competitively positioned as a low-maintenance, modern alternative within a suburb dominated by older, larger homes. Its 2009 construction delivers a quality designer kitchen with stainless steel appliances and built-in robes, finishes that are not common in the entry-level segment. The configuration serves first-home buyers and investors seeking a straightforward, tenant-friendly unit with strong connectivity. Within Reservoir, this apartment represents a newer, more manageable footprint that stands apart from the typical detached stock, making it a clear choice for buyers prioritizing convenience and contemporary interiors over space.
The 150m² lot and 100m² build may limit appeal for those seeking yard space or expansion potential, which could narrow the buyer pool. Its unit typology might also attract a premium discount relative to detached houses in the area. The estimated rental yield of around 3.7% is moderate, so an investor should weigh this against capital growth prospects. School catchment zoning is provided, but without quality ratings, its impact on value remains uncertain. These factors should be weighed carefully when forming a view on price.
Detailed Independent Property Report prepared by PropCred Analyst team for 5/33 Storey Road, Reservoir VIC 3073
Checks found:
Value Risk
1
Liquidity Risk
1
Planning Risk
Income Risk
2
Execution Risk
2
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Market Insight
Reservoir presents as a well-established, family-oriented suburb with a balanced mix of housing types. Demand is driven by both families seeking larger homes and investors attracted to consistent rental demand and solid yields. Recent price trends show steady, moderate growth across both houses and units, with a market characterised by healthy sales volumes and reasonable selling periods. Future growth is underpinned by strong transport links and ongoing rental demand, though the market faces constraints from moderate supply pressure and sensitivity to broader economic conditions affecting investor returns.
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PropCred Estimated Value
Bedrooms
2
Bathroom
1
Parking
1
Land
150m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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