52 Oban Street
BOUGHT* - $3,225,000
Auction review pending completion

Crowd Numbers: 0 people
Bidderman: 4 bidders
 

52 Oban Street SOUTH YARRA

Benefits

Higher positional potential for long term growth
Growth above average metro in last decade
Excellent land content as proportion of price
Good rental prospects
Seemingly low additional cash required after purchase

Concerns

Adjoining properties could be a negative issue
Touches other properties
Kitchen needs work
Mal James
Mal James
Principal Buyer Advocate
0408 107 988
mal@james.net.au

Comments on 52 Oban Street SOUTH YARRA

52 Oban has a lot going for it and thank heavens its presentation/finishes are such, that some of its Wow is disguised.

I first saw this home when it was a shell in 2013 and it sold for just over a million. A significant market upswing since then, plus the bones of a good renovation and I can see circa three million being thought about as the end result.

Lets be critical to begin with and its biggest negatives are in my opinion hidden on first run through.

It's in a flood/river zone - and that is confirmed by the paperwork and the fact that 52 and its neighbours have raised floors. How much an issue for you would be determined by a little investigation - eg ring the insurance companies, speak to council, knock on neighbors doors.

Secondly the rear parking is at the moment pretty good; however that would be impeded somewhat if the flats to the rear put a gate on their perimeter; as your turning circle would be restricted. Chances of that happening are not high as it's a very mixed tenancy block and perhaps something could be negotiated if push comes to shove. You could still get in and still have two cars - tandem, rather than side by side - need more space? - maybe reconfigure the stairs to the loft.

So lets get to the positives and they are many. Position, position, position - close to everything from train at end of street (in a cutting so muffled noise) to shops (if you're groovy Chapel, if you're a bit wrinkly then Trak Village), cinemas, restaurants and so on. And hey, no traffic - it's a cul de sac - this is South Yarra gold.

Internally I found it hard to fault for what it is - laundry was a bit iffy for bigger families and the lower ceilings upstairs, were a little tight, but I think the fix is easy - skylights or raise the corridor ceilings and leave the rest alone. Will need good air-con.

Floor plan and flow is brilliant for what it is - for light and for flexibility for all family types from singles/couples to bigger families and even investors and relatively fit oldies (downstairs masters). The living spaces to the rear work well - indoor/outdoor. The whole wow of the home would be significantly increased with better finishes such doors and handles, replace ovens, some architraves and quality furnishings. This is a home where (STBI) all the hard work seems to be done and then they ran out of money or effort at the final hurdle.

Lots of people should like this home - the question is - in this market, what is market price, rather than will there be bidders or not at market price.


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4
Bedroom
3
Bathroom
2
Parkings
271sqm
Land Area
Floor Plan Agent

Sold - 12:30 PM Mar 24 2018

Quote $2,800,000 - $3,000,000

East Facing

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