5A Macfarlan Street
BOUGHT* - $1,360,000
A crowd of some 50 onlookers attempt to find shade from the hot midday sun, and wait impatiently for the action to begin. Auctioneer Mark Wridgway does a superb job of extolling the virtues of this as new freestanding 3 bedroom plus study home. After noting that this is “a quality property” he offers it for auction. Despite the heat, the auction begins ...

Crowd Numbers: 50 people
Bidderman: 7 bidders
 

5A Macfarlan Street SOUTH YARRA

Benefits

Higher positional potential for long term growth
Growth above average metro in last decade
Good rental prospects
Seemingly low additional cash required after purchase
Area distance from CBD

Concerns

Possible dating issues
Adjoining properties could be a negative issue
Tight doors/hallways/stairs
James Home Ratings
James Home Ratings
03 9804 3133
enquiry@james.net.au

Comments on 5A Macfarlan Street SOUTH YARRA

Built just over 5 years ago, this property will appeal to buyers looking for a central location and a low-maintenance home. The floorplan is sound, although it is difficult to see this property as a three bedroom home, as the ground floor bedroom is very small and the addition of a wardrobe would further impact on the space. Depending on individual needs, this room may work better as a dining room. The bonus loft area could be used as a study or a home office, however the roof is lowish and the spiral stairs are awkward and may be impractical. The build quality here is good and is showing little wear and tear for its age. A small garage is located at the front of the property, which is a bonus as the street is narrow and carries the usual on street parking for this type of South Yarra street. The vacant block next to the property may concern some buyers - a check with the council would be advisable. This property will appeal to singles, couples, downsizers (who are comfortable with stairs) and investors looking for that inner city investment. The big question is whether in ten years time this property will still have the same appeal, i.e. is it going to be a typical build for the area? If it isn’t, then that may impact growth.

James Home Ratings's Comments on 5A Macfarlan Street SOUTH YARRA

5A Macfarlan is a good lifestyle home if it goes for a reasonable price - I like it - its like a little single fronter home only its modern. Nothing special, doesn't evoke a lot of emotion, few out of the ordinary features and its not Toorak's best street. But hey lets be balanced here - how many options do you have for low $1m's - almost walking distance from the CBD (if you're fit) in really the heart of Toorak/Chapel St. The street is narrow - this is good - means lower traffic flow and the rest of the street is of a similar vein in terms of homes - save the block to the north which is an unknown and therefore some minor added risk when purchasing. The home itself - good floorplan and flow although a tad on the narrow side (block has width though - so issue lies in the design) - only one car space, but better than none and its secure - it's already on the way to being dated - but its modern and appears on first glance to be reasonably well built. Flow is good, like the laundry and kitchen set up. For lock and leave singles or couples in the low $m's, this seems worthy of some more due diligence.


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3
Bedroom
3
Bathroom
1
Parkings
305sqm
Land Area
Floor Plan Agent

Sold - 12:00pm Feb 23 2013

Quote $1,100,000 - $1,200,000

West Facing

Full James Rating Sheet

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We buy 100 homes for our clients every year.
We buy Inner East and Bayside over $2m.

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What our clients had to say about James

The value they offer is immense, their understanding of the Melbourne property landscape and ability to identify excellent houses is first rate. We are so thrilled to have found James Buyer Advocates and would readily recommend both Gina and Mal to prospective buyers. The value they offer is immense, their understanding of the Melbourne property landscape an ...more

Tom & Angela

BRIGHTON

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