391 Murray Road, Preston, VIC 3072 | Property Value & History | OnTheHouse
 
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391 Murray Road
Preston VIC 3072

Bedrooms: 4
Bathrooms: 2
Car spaces: 9
Floor area: 274m2
Land area: 721m2
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Last updated 8 Sep 2025
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Property Details for 391 Murray Rd, Preston

Building Type
Unknown
Year Built
1920
Floor Size
274m2
Land Size
721m2
Local Government
Darebin
Lot/Plan
2/LP6123

Last Listing description (June 2019)

New 15 year lease to Explorers Early Learning to 2033.
Two further ten year options to 2053.
Explorers Early Learning: long established and successful high-end childcare provider with a network of 13 centres across Victoria.

Fixed 3% annual rent increases and to market at option.
Tenant pays all outgoings excluding land tax.
Stunning 980 sqm double-storey child care facility licensed for 140 LDC places plus a 915 sqm basement with parking for 30 cars.
High profile 1,441 sqm corner site metres from Preston West Primary School and Preston Train Station.
Strategic capital growth location within Melbourne s vibrant inner northern suburbs and only 9km from the CBD.
Significant income tax saving depreciation benefits.
Net Income: $419,104 pa + GST and outgoings.

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Property History for 391 Murray Rd, Preston, VIC 3072

A timeline of how this property has performed in the market
Last Sold
$8,860,000
06 Dec 2024
  • 06 Dec 2024
    Sold for $8,860,000
  • 05 Jun 2019
    Listed for Sale Not Disclosed
  • 04 Jul 2018
    Listed for Sale Price on Request
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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 21,596 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 63 properties listed for sale, and 37 properties listed for rent in Preston on OnTheHouse. According to Cotality's data, 947 properties were sold in the past 12 months in Preston.

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Cotality Copyright and Legal Disclaimers about Property Data

© Copyright 2025. RP Data Pty Ltd trading as Cotality (Cotality). All rights reserved. No reproduction, distribution, or transmission of the copyrighted materials is permitted. The information is deemed reliable but not guaranteed.

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