148 Albert Street, Preston, VIC 3072 | House for sale | OnTheHouse
 
FOR SALE
$895,000 - $940,000

148 Albert Street
Preston VIC 3072

Bedrooms: 2
Bathrooms: 1
Car spaces: 2
Land area: 501m2
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Approved Plans & Permits – Prime Preston Development Opportunity

A rare and exciting opportunity awaits at 148 Albert Street, Preston, a prime development site with approved plans and permits for three contemporary triple-story townhouses, each thoughtfully designed to deliver exceptional living spaces bathed in natural light.
The proposed residences have been carefully planned with generous proportions in mind:
Unit One – Three bedrooms, two bathrooms, double garage, and a private balcony.
Unit Two – Two bedrooms, two bathrooms, top-floor retreat, single garage, and a private balcony.
Unit Three – Three bedrooms, two bathrooms, double garage, and a private balcony.
Each home promises flowing interiors, abundant storage, and a lifestyle of comfort and modern style.
Adding further appeal, the block also accommodates the original two-bedroom, one-bathroom residence, providing immediate use as a rental or a practical base while development plans are brought to life.
Perfectly positioned in a sought-after Preston pocket, this site enjoys close proximity to local schools, shopping precincts, parks, and transport links. With easy access to High Street's vibrant café and dining culture, Northland Shopping Centre, and seamless connections into Melbourne's CBD, the location offers unmatched lifestyle and convenience.
Whether you're an astute developer or investor, this is a remarkable chance to secure a property with all the hard work already done - ready for you to capitalise on Preston's growth and popularity.
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Property Details for 148 Albert St, Preston

148 Albert St, Preston is a 2 bedroom, 1 bathroom House with 2 parking spaces. The property has a land size of 501m2. The place is currently for sale with Harcourts Rata & Co.

Building Type
House
Land Size
501m2
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About Preston 3072

The size of Preston is approximately 11.5 square kilometres. It has 30 parks covering nearly 4.7% of total area. The population of Preston in 2016 was 32851 people. By 2021 the population was 33790 showing a population growth of 2.9% in the area during that time. The predominant age group in Preston is 30-39 years. Households in Preston are primarily couples with children and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Preston work in a professional occupation.In 2021, 57.30% of the homes in Preston were owner-occupied compared with 56.70% in 2016.

Preston has 21,600 properties. Over the last 5 years, Houses in Preston have seen a 15.62% increase in median value, while Units have seen a 12.69% increase. As at 30 November 2025:

  • The median value for Houses in Preston is $1,220,339 while the median value for Units is $635,220.
  • Houses have a median rent of $620 while Units have a median rent of $550.
There are currently 80 properties listed for sale, and 37 properties listed for rent in Preston on OnTheHouse. According to Cotality's data, 906 properties were sold in the past 12 months in Preston.

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Joel Viavattene
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Harcourts Rata & Co
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