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24 Ruby Street, Preston, Vic 3072 For Sale
24 Ruby Street, Preston, Vic 3072 24 Ruby Street, Preston, Vic 3072-Image 24 Ruby Street, Preston, Vic 3072-Image 24 Ruby Street, Preston, Vic 3072-Image 24 Ruby Street, Preston, Vic 3072-Image 24 Ruby Street, Preston, Vic 3072-Image 24 Ruby Street, Preston, Vic 3072-Image 24 Ruby Street, Preston, Vic 3072-Image 24 Ruby Street, Preston, Vic 3072-Image 24 Ruby Street, Preston, Vic 3072-Image 24 Ruby Street, Preston, Vic 3072-Image 24 Ruby Street, Preston, Vic 3072-Image 24 Ruby Street, Preston, Vic 3072-Floorplan

24 Ruby Street, Preston, Vic 3072

Reserve $760,000

House
Type
4
Bedrooms
2
Bathrooms
4
Parkings
468 m²
Area

Last updated on Wednesday, September 09, 2026 ( See property details for 24 Ruby Street, Preston, Vic 3072)

Reserve $760,000

  • AI-generated summary for guidance only. We can’t guarantee accuracy -please verify all details independently before deciding.

A versatile Preston property offering significant development potential on a valuable land parcel, with existing accommodation and excellent amenities nearby.

🏡 Property Highlights

  • Prime development site with strong land value in Preston
  • Potential to build multiple units or townhouses (STCA)
  • Existing 70-year-old residence with renovation potential
  • Excellent location close to shopping, schools, and transport
  • Includes a bungalow and separate studio for rental or holding
  • Strong demand for new housing in a highly connected suburb

✨ Key Features

  • Floorboards
  • Ducted heating
  • Valuable land with development potential
  • Separate studio
  • Bungalow
  • Approx. 70-year-old existing dwelling
  • Ideal for builders, developers and investors
  • Potential for multiple units/townhouses
  • Close to Preston Central & High Street
  • Close to Preston South Shopping Centre
Latest Aerial Imagery Available
24 Ruby Street
Preston, VIC 3072
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Aerial and oblique imagery reveals the full picture — roof condition, solar panels, pool, setbacks, neighbouring structures, street access, and surrounding land use. Essential due diligence for buyers negotiating price and investors assessing yield potential.
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Vertical aerial view — 24 Ruby Street
24 Ruby Street — Vertical Aerial  •  Preston, VIC 3072  •  Nearmap © 2026

Preston is a highly sought-after suburb known for its vibrant community, excellent transport links, diverse dining options, and proximity to major shopping centres. Its established infrastructure and strong demand for housing make it an ideal location for both investors and developers. The area offers a mix of character homes and new developments, with plenty of parks and educational institutions nearby, ensuring a convenient and vibrant lifestyle.

What is the current condition of the existing dwelling?
The existing home is approximately 70 years old and requires renovation, offering an opportunity for buyers to update or redevelop the property.
What are the development possibilities for this property?
The land offers potential for multiple units or townhouses, subject to council approval (STCA).
Are there any existing planning permits or approvals?
Plans and approvals are not currently in place; interested buyers should consult with local council for development guidelines.
What are the zoning details for this property?
Zoning information should be verified with the local council to confirm development potential and restrictions.
Is there any risk of flooding or bushfire in this area?
Preston is generally considered low risk for flooding and bushfires; however, buyers should review local hazard maps for specific details.
Are there any hidden costs associated with the development or renovation process? Has the property been affected by any zoning changes or planning restrictions? Are there easements or covenants on the land that could impact development? What are the council requirements and approval processes for building multiple units? Is there any history of flooding or environmental hazards on the site? Are there any upcoming planning or infrastructure projects in the area that could affect the property? What are the strata or body corporate considerations if developing into multiple dwellings? Are there any existing issues with the current structures that require urgent repairs? What are the potential costs involved in renovating or redeveloping the property? Is the property located within a designated bushfire or flood zone?

24 Ruby Street, Preston, Vic 3072 - More Details

Reserve $760,000

Positioned in a highly sought-after Preston location, 24 Ruby Street presents an exciting opportunity for first home buyers, investors, builders and developers.
While the existing home is in need of further updating, the property offers buyers the flexibility to either enjoy the home as it stands, undertake further improvements over time, or explore the potential of the valuable land.
For first home buyers, the property provides an opportunity to enter the tightly held Preston market with the added benefit of a bungalow and separate studio, while the existing improvements provide a solid starting point for further personalisation.
For builders, developers and investors, the real value lies in the land, with potential to redevelop and build multiple units or townhouses (STCA), subject to council approval and planning requirements.
The existing residence comprises 2 bedrooms, 2 bathrooms, a bungalow and a separate studio.
Improvements Completed in the Last 5 Years
The property has benefited from a number of improvements in recent years, including:
• Floorboards throughout the entire house
• Renovated bathroom
• Ducted heating
• New water heater
• Brand-new wardrobe in the main bedroom
• Renovated laundry, excluding the sink
• Solar panels
• Luxury portable bathroom
• Brand-new stove
Key Features
• 2 bedrooms
• 2 bathrooms
• Bungalow
• Separate studio
• Ducted heating
• Floorboards throughout
• Solar panels
• ample storage
• Brand-new stove
• Renovated bathroom
• Renovated laundry
• Valuable land with development potential
• Ideal for first home buyers, investors, builders and developers
• Potential for multiple units/townhouses (STCA)

Nearby Amenities:

Preston Central & High Street - approx. 4-5 mins
Preston South Shopping Centre - approx. 5 mins
Northland Shopping Centre - approx. 6 mins
High Street cafés, restaurants, bars & local shops - approx. 4-5 mins
Schools & Education

Preston South Primary School - approx. 4 mins
Bell Primary School - approx. 5 mins
Preston High School - approx. 5 mins
Charles La Trobe P-12 College - approx. 6 mins
Northern College of the Arts & Technology - approx. 7 mins
Transport

Bell Train Station - approx. 5 mins
Preston Train Station - approx. 5 mins
Plenty Road tram services - approx. 5-6 mins
High Street tram & bus services - approx. 4-6 mins
Parks & Recreation

A.H. Capp Reserve - approx. 4 mins
H.P. Zwar Park - approx. 5 mins
Ray Bramham Gardens - approx. 5 mins
T.A. Cochrane Reserve - approx. 6 mins
Medical & Healthcare

Preston Family Medical - approx. 5 mins
Complete Care Preston - approx. 5 mins
Northern Hospital Epping - approx. 15-20 mins
Austin Hospital - approx. 12-15 mins
Prime Preston Location
Enjoy the convenience of established amenities, public transport, schools, parks, cafés and shopping all within easy reach. With excellent connectivity and strong demand for housing, 24 Ruby Street offers a rare opportunity to secure land in a tightly held Preston location and explore its future development potential (STCA).

For developers and builders, the opportunity is in the land. Bring your vision and unlock the potential of this site.

Photos are for illustrative purposes only.

For more information or to arrange a private inspection, contact Ayomi on 0405 725 452.

Due diligence checklist - for home and residential property buyers -
http://www.consumer.vic.gov.au/duediligencechecklist
Type
House
Bedrooms
4
Bathrooms
2
Parkings
4
Area
468 m²

Price guide

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