81 Summerhill RoadReservoir VIC 3073
Property Details for 81 Summerhill Rd, Reservoir
81 Summerhill Rd, Reservoir is a 2 bedroom, 1 bathroom House with 4 parking spaces. The property has a land size of 574m2 and floor size of 111m2. While the property is not currently for sale or for rent, it was last sold in May 2022.
Last Listing description (February 2026)
Positioned on the edge of Preston within one of Reservoir's most exciting growth corridors, this exceptional opportunity comes with approved plans and permits to construct four contemporary 2-bedroom townhouses, each featuring a dedicated study nook - making it ideal for developers, astute investors, or buyers with a clear vision to capitalise on strong ongoing demand.Set on a generous 574sqm (approx.) allotment in the sought-after Residential Growth Zone 2 (RGZ2), the site currently accommodates a well-maintained brick veneer residence that delivers immediate holding income. The existing home comprises three spacious bedrooms, a central bathroom, a comfortable lounge, and an open-plan kitchen/meals area, and is currently leased at $750 per week, providing solid cash flow while planning future development.A wide side driveway offers excellent off-street parking and access to a substantial rear yard and garage, further enhancing the site's flexibility for redevelopment or subdivision (STCA).The location truly underpins the value - just moments from Summerhill Shopping Centre, within easy reach of Plenty Road trams, and a short commute to La Trobe University, Northland Shopping Centre, local schools, and parklands. An outstanding opportunity to secure a prime development site with immediate rental return in a high-growth pocket.
Property History for 81 Summerhill Rd, Reservoir, VIC 3073
- 20 Jan 2026Listed for Sale 990000 - 1050000
- 15 May 2025Listed for Sale 990000 - 1050000
- 24 May 2022Sold for $850,000
Recent sales nearby
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0About Reservoir 3073
The size of Reservoir is approximately 18.9 square kilometres. There are 45 parks, covering nearly 8.8% of the total area. The population of Reservoir in 2016 was 50474 people. By 2021 the population was 51096 showing a population growth of 1.2% in the area during that time. The predominant age group in Reservoir is 30-39 years. Households in Reservoir are primarily couples with children and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Reservoir work in a professional occupation.In 2021, 59.90% of the homes in Reservoir were owner-occupied compared with 59.30% in 2016.
Reservoir has 28,997 properties. Over the last 5 years, Houses in Reservoir have seen a 6.60% increase in median value, while Units have seen a 14.29% increase. As at 30 April 2026:
- The median value for Houses in Reservoir is $968,594 while the median value for Units is $651,866.
- Houses have a median rent of $570 while Units have a median rent of $525.
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