38 Yarra Ave

Off Market

38 Yarra Ave

Reservoir VIC 3073

640 m²

House

Last sold for $950,000

Ian Dempsey, last sold this property on 19 October 2026 after 25 days on market.

Overview

Renovated Family Living with Space, Sun and Views

Set in a quiet, family-friendly pocket of Reservoir with shops at the end of the street and schools, parks and transport all close by, this renovated three-bedroom home on approximately 640 square metres proves that the real story is often behind the front door. Step through and the home opens up into a light, contemporary space that has been thoughtfully updated for modern living. The tiled open-plan living and dining zone is the heart of the home, relaxed and connected, and easy to live in whether it's a busy weeknight or a slow weekend morning. The kitchen anchors the living area and is built for everyday life. Stone benchtops and a generous island give you real bench space for prep, while keeping the cook part of the conversation. It's a kitchen made for families who gather around it. All three bedrooms are well proportioned and fitted with built-in robes, keeping storage sorted and rooms uncluttered. They share a stylish renovated bathroom with a fully tiled walk-in shower, a clean, modern finish that feels fresh and easy to maintain. Outside is where this home really wins. A large covered deck captures northern sun and sweeping views, making it the natural spot for summer barbecues, morning coffees and hosting friends in any weather. It overlooks a huge backyard with room for kids to run, pets to play and gardeners to get creative. That kind of outdoor space is increasingly hard to find, and with a wide 15.3 metre frontage, the block also offers genuine scope for the future (STCA). Practicality is well covered too. Ducted heating and evaporative cooling keeps the home comfortable year round, gas heating adds extra warmth to the living area, and substantial storage beneath the house and deck gives you room for bikes, tools and everything else that needs a home. For investors, this property presents a compelling opportunity. The renovation has already been done, so there is no immediate spend required, and the home's low-maintenance finishes help keep ongoing costs down. Three robed bedrooms, ducted heating and evaporative cooling, and a huge backyard are exactly what quality tenants look for, while the school zoning, public transport and close proximity to La Trobe University drive consistent rental demand from families, professionals and students alike. With an established rental history, the home is ready to deliver returns from day one. Beyond the income, the approximately 640 square metre block with its wide 15.3 metre frontage offers strong land value in a growing suburb, along with the flexibility to extend, redevelop or subdivide in the future (STCA). It is a rare combination of immediate yield and long-term upside. The location makes everyday life easy. Local shops sit right on the corner, trams, buses and Reservoir Station keep the CBD within easy reach, while La Trobe University is close by. The home is also zoned for Reservoir High School and Reservoir East Primary School, which is a real drawcard for families. A renovated, move-in ready home with the land, outdoor space and views to match, equally suited to families and investors, in a location that ticks every box.

Features

3 bedrooms

1 bathroom

3 carspaces

3 open car spaces

640 m² lot size

House

Estimated Value

Based on this property and similar 3 bedroom houses sold in Reservoir over the last 12 months, the estimated median property value of 38 Yarra Ave is $916k.

Median value

$916k

Estimated value range

$567.5k - $1.8m

Median days on market

Estimated value trend

increase over the last 12 months

Average days on market is based on recent, comparable sales in Reservoir. It is only an indication of the time a property is actively listed and should not be relied upon as an accurate representation of how soon a property will be sold.

Property history for 38 Yarra Ave

2026

Sold

$950,000

19 Oct 2026 by Ian Dempsey, of Ray White Preston

2024

Rented

Undisclosed

Leased on 07 Oct 2024 by Nelson Alexander Reservoir

2019

Rented

Undisclosed

Leased on 11 Nov 2019 by Love & Co Real Estate - Reservoir

Happy sellers in Reservoir

90%

90% of sellers in Reservoir reported that their sale price either exceeded or met their price expectations.

Reservoir stands out for consistently delivering exceptional satisfaction and strong market results for homeowners.

This is based on voluntary sentiment collected from 86 reviews in Reservoir over the last 12 months.

Local market activity for 3 bedroom houses in Reservoir

In the last 12 months, 235 three-bedroom houses similar to 38 Yarra Ave, have been sold.

This represents a 37% increase in three-bedroom houses sales when compared to the previous 12 months.

Sold

For Sale

For Rent

Interested in selling?

People are reaching out to these agents in Reservoir for a free market appraisal.

Ian Dempsey

at Ray White Preston

4.9

(512 reviews)

Get a free market appraisal

Nick Mylonas

at Fletchers Inner North

(168 reviews)

Get a free market appraisal

George Gimelli

at Ray White Preston

(60 reviews)

Get a free market appraisal

George Ioannou

at Harcourts Rata & Co - Reservoir

4.9

(203 reviews)

Get a free market appraisal

Nearby agents

Compare and contact these top performing agents who’ve delivered exception customer service for their clients in Reservoir

Ian Dempsey

Ian Dempsey is an award winning recommended agent for Reservoir. They have 73 local sales and collected 24 local reviews across the last 12 months.

4.9 (512 reviews)
24 Reviews in Reservoir
73 Sales in Reservoir

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Nick Mylonas

Nick Mylonas is a recommended agent for Reservoir. They have 9 local sales and collected 9 local reviews across the last 12 months.

5 (168 reviews)
9 Reviews in Reservoir
9 Sales in Reservoir

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George Gimelli

George Gimelli is a recommended agent for Reservoir. They have 18 local sales and collected 8 local reviews across the last 12 months.

5 (60 reviews)
8 Reviews in Reservoir
18 Sales in Reservoir

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George Ioannou

Sellers who recommend George Ioannou have praised them for being clear communication, local expert, supportive, honest, dedicated, responsive and friendly