61 Yarraview Road Yarra Glen VIC 3775

Large residential lot in Yarra Glen | dual-opportunity potential | recent 2022 sale history | bushfire overlay present | strong school zoning. This property occupies a rare position in Yarra Glen: a 1.31-acre residential lot with a 236m² house, on land that has already been prepared for subdivision. The key buying case rests on the configuration edge—the site’s electrical pits and legal discharge point signal prior subdivision work, giving a buyer optionality that most comparables lack. For a family seeking a spacious home with immediate school catchment access, the existing house is functional. For a developer or investor, the land’s serviced state reduces approval risk and timeline. The property’s strongest advantage is that it can be held as a comfortable residence while the subdivision pathway is explored, offering both lifestyle and strategic land value in one holding. The primary risk is the bushfire prone area overlay, which will increase construction and insurance costs if subdivision proceeds. The price range discrepancy across sources suggests the market has not yet settled on a clear value for the dual-use potential—this creates a negotiation window for a buyer who can act on the subdivision pathway. The 2022 sale as a land block indicates the house may be a recent addition, so structural quality should be verified. The separate 2/61 lot is a commercial site, not part of this holding, so ignore it. For a buyer, the plain logic is: buy for the land’s subdivision readiness, use the house as a hold, and exit via lot sales once planning is confirmed.