7/305 Grange Road, Ormond VIC 3204

Ground-floor apartment | north-facing garden | boutique refurbished block | steps from Ormond Village This ground-floor unit is competitively positioned by its private, north-facing garden and independent access, a rare configuration that elevates it above standard apartments. The full refurbishment in a small block and proximity to village amenities create a low-maintenance offering best suited to a downsizer or a professional seeking a secure, garden-oriented residence within a walkable precinct. The discrepancy between its recent sale price and current reserve is the central risk, demanding verification of any capital improvements made. Without substantiation, the premium reflects speculative market positioning rather than intrinsic value. Consider this property only if the garden attribute justifies a significant hold period, as the entry price otherwise compromises medium-term equity growth. Recent sales within the same building provide a clear benchmark. In October 2025, two other units sold: 5/305 Grange Road for $432,000 and 9/305 Grange Road for $439,000. This establishes a firm value corridor for a standard apartment in this block, approximately $435,000. The subject property’s $403,000 sale in the same period suggests it was transacted at a slight discount, likely due to its ground-floor position. The current reserve of $630,000–$680,000 therefore requires a 45-60% premium over recent comparables, a gap only justified by a superior, renovated garden unit if the market strongly rewards that specific configuration.