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6/28-30 Southernhay Street, Reservoir$610,000

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6/28-30 Southernhay Street

Reservoir, VIC 3073, Australia

$610,000

2 bed 1 bath 2 car

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Listing description

About this property

An ideal first home, investment opportunity and or affordable downsize option with plenty of scope for value-adding enhancements, this completely unrenovated classic villa showcases generous dimensions to enjoy and improve on, all perfectly positioned in the exclusive Oakhill Estate. Comprising two bedrooms (both with built-in robes) together with a good size central bathroom and separate toilet, versatile front lounge, classic kitchen which flows through to separate laundry and out to the well maintained courtyard. Other highlights include split-system air conditioning, single car garage. Walking distance to public transport options including a choice of bus routes, Plenty Road trams and Regent Station, it's also close to popular schools, local cafes and the area's vibrant shopping precincts. With a bit of TLC and renovation the sky is the limit

Property Details

Property Type: apartment
Listing Type: Sold
Bedrooms: 2
Bathrooms: 1
Parking: 2
Listed: 2 months ago

Repayment calculator

$2,957/month

$1,479 /fortnight

Loan $488,000 at 6.10% over 30 years

Upfront costs

Deposit$122,000

Stamp duty$31,670

Conveyancing (est.)$2,000

Total upfront$155,670

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Indicative figures only — not a quote. Real loan offers depend on the lender; duty depends on contract terms and applicable concessions.

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Neighbourhood

Living in Reservoir

This 2-bedroom apartment in Reservoir, VIC 3073 sits within reach of public transport, local shops and nearby schools. It is listed 39% below the $997,500 median of 51 comparable apartmentswithin 5 km.

Schools near Reservoir

Northern School For Autismcombined · U · CoEd
Holy Name Schoolprimary · Prep-6 · CoEd
Maharishi School of the Age of Enlightenmentprimary · Prep-6 · CoEd
Reservoir East Primary Schoolprimary · Prep-6 · CoEd
Reservoir Primary Schoolprimary · Prep-6 · CoEd
Reservoir Views Primary Schoolprimary · Prep-6 · CoEd

What's nearby

Ruthven station rail replacement stop (bus) — 2.1 km away
Unique Hair Design — 2.3 km away
Cheddar Road East Linear Reserve — 1.7 km away
Cheddar Road East Linear Reserve — 1.9 km away
Reservoir Linear Reserve — 2.0 km away

Reservoir at a glance

Full suburb profile

Population: 51,096
Median age: 38
Household income: $1,541/wk
Median rent: $360/wk
Median mortgage: $1,986/mo

Source: ABS Census.

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Property Report

Lifestyle & access

Schools

6 nearby schools

Catchment: Reservoir Primary School

Public transport

10 stops within 1.5km

Nearest: Southernhay Street/High Street (0.5km)

Traffic

Moderate congestion

Morning (7-9am) and evening (5-7pm) peak hours see increased traffic on nearby arterial roads, particularly Grange Road and Mountain Highway. Local streets experience moderate congestion as residents commute to the CBD and surrounding business districts.

Noise

Moderate noise

Nearest: road (0.9km)

Risk & safety

Flood risk

Medium

Reservoir is located in the Yarra River catchment in north-central Melbourne and has medium flood risk, particularly in lower-lying areas near the Merri Creek tributaries. The Land Subject to Inundation Overlay (LSIO) covers portions of the suburb, reflecting historical flood vulnerability during major rainfall events. Development in identified flood-prone zones requires careful assessment and may necessitate flood-resistant design or elevated structures.

Bushfire risk

Low

BAL: BAL-LOW

Crime profile

above average

Trend: stable

Planning & context

Zoning

GRZ1 — General Residential Zone - Schedule 1

Darebin Planning Scheme

Nearby development

6 projects nearby

Reservoir is experiencing moderate urban renewal activity focused on its Activity Centre, train station precinct, and incremental residential infill along transport corridors. Development momentum reflects Melbourne's northern suburbs intensification strategy, with DAs concentrated on mixed-use precincts, medium-density residential projects, and public realm improvements linked to Merri Creek and local infrastructure. Council backing for activity centre renewal and station-oriented development is driving property interest in this historically working-class suburb.

Heritage

Not heritage listed

Reservoir is an outer northern suburb of Melbourne with modest heritage character, primarily concentrated around early 20th-century civic structures and late-Victorian residential pockets. Most properties are not subject to heritage controls, though isolated buildings of local significance (town hall, early stations) may carry overlay protections. The suburb lacks a formal conservation area designation typical of inner-city heritage zones.

Sources: Australian Gov open data, OpenStreetMap + StMate AI

Disclaimer: This report combines data from Australian Government open data portals (CC-BY 4.0) and StMate AI. For non-NSW properties some sections (zoning, flood, bushfire, development, heritage) are AI-generated based on publicly known suburb characteristics — always verify with the relevant council or authority before making decisions. This report does not constitute legal, financial, or planning advice.

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