53 Argyll Street, Malvern East VIC 3145

3 bed house on 650sqm | Stonnington location | renovation or development potential | family and investor demand This property offers a strong buying case based on its 650sqm block in Malvern East, a suburb with consistent owner-occupier demand. The existing three-bedroom, two-bathroom house provides immediate livability while the land size gives a buyer optionality for future renovation or redevelopment, subject to council controls. The sun-filled living areas and timber flooring add appeal for a family seeking a home with character, but the primary value lies in the land position within Stonnington. This property suits buyers who want to enter a blue-chip area with a manageable project or hold for long-term capital growth. The main risk is that the house likely requires updating, which costs time and money, and any redevelopment potential is contingent on planning overlays that must be verified. The estimated value around $1.4M reflects land content, not a premium for the dwelling. Opportunities include a strategic renovation to lift value or a longer-term hold to capture land appreciation in a tightly held suburb. The prudent approach is to buy for the land, renovate to suit your needs, and hold for at least five years to realise the location’s compounding growth.