72 Observation Drive, Rye, VIC 3941 | House for sale | OnTheHouse
 
FOR SALE
$1,350,000 - $1,450,000

72 Observation Drive
Rye VIC 3941

Bedrooms: 5
Bathrooms: 3
Car spaces: 2
Land area: 752m2
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SPRING SALE | BREATHTAKING BAY VIEWS

Elevated in one of Rye's most prestigious, tightly held heights, 72 Observation Drive is a premier Spring opportunity. If you have been searching for a substantial, modern coastal retreat with genuine multi-family capability and panoramic blue-water views, this is your destination. Crafted for lifestyle entertaining and effortless flexibility, this expansive 5-bedroom, 3-bathroom residence blends architectural light with premium coastal luxury.
The Upper Level: Light, Views & Entertaining.
- Panoramic Bay Vistas : Open-plan living zones framed by floor-to-ceiling glass capturing sweeping bay views.
- Seamless Flow : Transition effortlessly from the premium indoor living spaces out to expansive decking.
- Resort Living : Relax on the deck or by the sparkling pool, backdropped by an outstanding Peninsula outlook.
The Lower Level: Ultimate Versatility & Dual-Occupancy
- Self-Contained : A substantial downstairs zone featuring independent living quarters.
- Flexible Layout : Ideal for extended families, hosting dual holiday groups, a teenage retreat or prime guest stays.
- Future Potential : Ample space and a brilliant layout configured to easily accommodate future modifications or a garage conversion down the track.
- The Location : Positioned just moments from Rye's vibrant cafes, pristine front and back beaches, world-class golf courses and hot springs.
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Property Details for 72 Observation Dr, Rye

72 Observation Dr, Rye is a 5 bedroom, 3 bathroom House with 2 parking spaces and was built in 2011. The property has a land size of 752m2. The place is currently for sale with Flynn and Co Real Estate.

Building Type
House
Year Built
2011
Land Size
752m2
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About Rye 3941

The size of Rye is approximately 17.7 square kilometres. There are 16 parks, covering nearly 14.3% of the total area. The population of Rye in 2016 was 8416 people. By 2021 the population was 9438 showing a population growth of 12.1% in the area during that time. The predominant age group in Rye is 60-69 years. Households in Rye are primarily childless couples and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Rye work in a trades occupation.In 2021, 75.40% of the homes in Rye were owner-occupied compared with 71.60% in 2016.

Rye has 10,061 properties. Over the last 5 years, Houses in Rye have seen a -15.73% decrease in median value, while Units have seen a -4.09% decrease. As at 31 July 2026:

  • The median value for Houses in Rye is $958,519 while the median value for Units is $620,268.
  • Houses have a median rent of $605 while Units have a median rent of $518.
There are currently 50 properties listed for sale, and 13 properties listed for rent in Rye on OnTheHouse. According to Cotality's data, 325 properties were sold in the past 12 months in Rye.

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Darren Sadler
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Woodards | Flynn & Co
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Flynn and Co Real Estate
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