121 Watton Street, Penshurst, VIC 3289 | House for sale | OnTheHouse
 
FOR SALE
$415,000

121 Watton Street
Penshurst VIC 3289

Bedrooms: 3
Bathrooms: 1
Car spaces: 2
Land area: 2043m2
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Historic Charm & Untapped Potential on 2,043m² (approx)

Steeped in local history, this character filled country home sits on a generous 2,043m² (approx.) allotment, offering a rare blend of timeless charm and lucrative future rewards. Featuring original bluestone walls (Circa. 1860) and classic timber floorboards, the property delivers an idyllic country lifestyle in the heart of Penshurst.
Currently generating immediate income with a reliable month-to-month tenancy, this three bedroom residence is a standout opportunity for investors, renovators, or developers looking to subdivide (STCA).
The practical layout boasts a light filled main living zone equipped with a wood heater and a split system unit for year round comfort. A spacious country kitchen features a gas cooktop, electric oven, dishwasher, large pantry, and a west facing window framing serene rural views. The adjoining open plan dining area features a cozy electric log burner, creating the perfect hub for family gatherings.
Two bedrooms sit at the front of the home, capturing abundant natural light through large windows. A flexible third bedroom opens off the dining space, serving perfectly as a dedicated home office or nursery. All rooms are serviced by a central family bathroom with a separate bath and shower, plus a convenient independent toilet located off the rear mudroom and laundry.
The outdoor space is a major asset, showcasing a secure backyard with established bluestone garden beds, tank water, and a sheltered entertaining area. A single garage offers a versatile studio conversion or workshop space. Beyond the main yard, a large rear paddock with direct vehicle access via Cobb Street opens up endless possibilities for more shedding or a profitable multi dwelling subdivision (STCA).
Secure a piece of Penshurst's history with built in income and endless room to grow. Contact us today to arrange your private inspection.
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Property Details for 121 Watton St, Penshurst

121 Watton St, Penshurst is a 3 bedroom, 1 bathroom House with 2 parking spaces. The property has a land size of 2043m2. The place is currently for sale with Professionals Real Estate Hamilton.

Building Type
House
Land Size
2043m2
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About Penshurst 3289

The size of Penshurst is approximately 316.8 square kilometres. There is 1 park, covering nearly 0.1% of the total area. The population of Penshurst in 2016 was 622 people. By 2021 the population was 677 showing a population growth of 8.8% in the area during that time. The predominant age group in Penshurst is 60-69 years. Households in Penshurst are primarily childless couples and are likely to be repaying $600 - $799 per month on mortgage repayments. In general, people in Penshurst work in a managers occupation.In 2021, 76.60% of the homes in Penshurst were owner-occupied compared with 81.10% in 2016.

Penshurst has 533 properties. Over the last 5 years, Houses in Penshurst have seen a 62.27% increase in median value, while Units have seen a -26.75% decrease. As at 31 July 2026:

  • The median value for Houses in Penshurst is $361,970 while the median value for Units is $284,475.
  • Houses have a median rent of $200.
There are currently 7 properties listed for sale, and no properties listed for rent in Penshurst on OnTheHouse. According to Cotality's data, 14 properties were sold in the past 12 months in Penshurst.

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Sam Langley
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Melissa Ferrier
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Professionals Real Estate Hamilton
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