54 Wallace St, Preston is a 3 bedroom, 2 bathroom House with 2 parking spaces and was built in 1920. The property has a land size of 556m2 and floor size of 155m2. While the property is not currently for sale or for rent, it was last sold in February 2022.
Enjoyed by generations of the one family for nearly 60 years, this elegant Edwardian provides a lifestyle of quality and convenience along with tremendous potential to renovate and extend (STCA) - all on approx 657sqm of land in one of the area's most exclusive streets. Beyond the delightful front garden and imposing facade, discover a well-proportioned interior comprising three generous bedrooms (master with full-width robes) all serviced by two neat bathrooms. Further adding to its immediate appeal is a front lounge and adjoining dining room leading through to the functional kitchen/meals area as well as a separate sunroom and study/home office to the rear. Ducted heating, a/c, high ceilings and original solid timber floors (under the carpets) all add to the allure, together with a large undercover patio/entertaining area, north-facing backyard with handy garden shed, plus an under-house cellar/storage area and double garage via gated side driveway. Quick and easy access to the area's key lifestyle attractions including Gilbert Road trams and Bell Street buses, popular schools, kinder/childcare facilities and Melbourne Polytechnic, as well as High Street shops and cafes, Preston Market and Preston Station.
In conjunction with Younger Hill Property Advocates - Contact Fahey Younger M: 0422 550 673
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 21,613 properties. Over the last 5 years, Houses in Preston have seen a 8.24% increase in median value, while Units have seen a 11.16% increase. As at 31 March 2026:
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