7 Raleigh Grove, Essendon North VIC 3041

Californian Bungalow | 4 bed 3 bath 4 car | 604m²+ lot | Quiet tightly-held street | Scope to renovate or redevelop This property presents a rare configuration for Essendon North, combining a substantial, flat parcel in a quiet pocket with the period charm of a Californian Bungalow. Its four-car accommodation and above-standard bedroom and bathroom count create immediate utility for a family, while the absence of development overlays and the lot’s size provide a clear strategic option for future capital improvement, appealing to both owner-occupiers and builders. Proceed with the discipline that its varied price estimates demand. The primary risk is overcapitalising in a suburb where modern rebuilds set a high ceiling; any renovation requires a strict budget against recent comparable sales. The opportunity is securing a large, unencumbered block in a tightly held location, a scarce commodity. Acquire at a value that reserves capital for the necessary updates, then hold for the long-term land appreciation. Recent sales context shows the property last traded in 2012 for $745,000. While direct street comparables are limited, current market estimates for this home range broadly from $1.4 million to over $1.58 million. This variance underscores the need for precise due diligence to anchor your offer to demonstrable market evidence, not aspiration.