63 Bulli Street, Moorabbin VIC 3189

Family hold since 1981 | 697m2 west-facing block | ready to renovate or rebuild | backing reserve greenery is your quiet buffer This property presents a classic trade-off. The 1981 ownership history and 38% site coverage tells you its been loved but not capitalised. The west-facing 697m2 block backing Bricker Reserve gives you a rare contiguous green edge, which commands a premium in Moorabbin. Your cost exposure is not in the house itself but in the renovation or rebuild timeline. If you hold, the land-to-structure ratio favors a future subdivision or dual-occupancy play. This is a hold-and-improve proposition, not a flip. What makes this competitively strong is the combination of rear reserve access and a floorplan that can be reworked without demolition if youre patient. The fitted robes and nostalgic bathroom are not selling points, theyre signals that a cosmetic refresh can unlock rental yield at approximately $700 per week while you plan. This property serves best a buyer with a 3-to-5 year horizon who values location proximity to Bentleigh Secondary College and wants a single-level footprint they can phase. The next step is to commission a structural inspection and a pre-purchase due diligence on the brick foundation before auction day to set your ceiling with confidence. Recent comparable sales in Moorabbin show 3-bedroom houses on similar blocks transacting between $1.47M and $1.505M These figures suggest the current guide of $1.13M to $1.23M is pricing in the renovation gap, giving you a measurable discount if you can execute on the improvement. The value inference is clear: you are buying land at a discount to finished homes, and the reserve adjacency will hold its premium even in a softer market.