24 Ruby Street, Preston, VIC 3072 | House for sale | OnTheHouse
 
FOR SALE
$790K-$840K

24 Ruby Street
Preston VIC 3072

Bedrooms: 4
Bathrooms: 2
Car spaces: 4
Land area: 468m2
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Wed 9 Sep 5:00 pm
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Development Opportunity in the Heart of Preston

Positioned in a highly sought-after Preston location, 24 Ruby Street presents an outstanding opportunity for developers, builders and astute investors looking for a property where the true value lies in the land.
The existing home is approximately 70 years old and requires renovation, making this property ideal for buyers who can see beyond the current dwelling and unlock the potential of the site.
Set on a valuable parcel of land, the property offers an exciting opportunity to redevelop and potentially build multiple units or townhouses. With strong demand for quality new housing in Preston, this is a chance to secure a site in an established and highly connected suburb.
The existing residence comprises 2 bedrooms, 2 bathrooms, a bungalow and a separate studio, providing potential holding or rental options while plans and approvals are considered.
The property also features a central kitchen with ample storage, floorboards and ducted heating. While the home is in need of updating, the land and development potential are the key attractions.
Key Features
Approx. 70-year-old existing dwelling
2 bedrooms
2 bathrooms
Bungalow
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Property Details for 24 Ruby St, Preston

24 Ruby St, Preston is a 4 bedroom, 2 bathroom House with 4 parking spaces. The property has a land size of 468m2. The place is currently for sale with Bombay Real Estate.

Building Type
House
Land Size
468m2
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About Preston 3072

The size of Preston is approximately 11.5 square kilometres. There are 30 parks, covering nearly 4.7% of the 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 21,618 properties. Over the last 5 years, Houses in Preston have seen a -1.16% decrease in median value, while Units have seen a 7.18% increase. As at 31 July 2026:

  • The median value for Houses in Preston is $1,185,725 while the median value for Units is $645,689.
  • Houses have a median rent of $700 while Units have a median rent of $580.
There are currently 74 properties listed for sale, and 49 properties listed for rent in Preston on OnTheHouse. According to Cotality's data, 897 properties were sold in the past 12 months in Preston.

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Ayomi Uberathne
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Bobby Kosuri
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Bombay Real Estate
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