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5 Madeley Street

Ocean Grove, VIC 3226, Australia
2 bed 1 bath 1 car834m²

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Area Price Guide
$836,600$943,400

Indicative price guide range

🏘️
65
Comparable
📊
$1.40m
Area median
⚖️
-36%
vs median
📐
$1,067
Per m²
📏
834 m²
Land
🗓️
2 weeks ago
Listed

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Property Insights

Schools · zoning · transport · traffic · flood · bushfire · crime · development · heritage

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Heritage

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About this property

Located in a highly sought-after area of Ocean Grove, this properties position offers the best of coastal living, though the house itself is in bit of a state. Just a short walk from Ocean Grove Primary School, The Terrace shopping strip, and the popular Ocean Grove Main Beach, it offers incredible convenience for both lifestyle and practicality. Set on a large 833 square meter block, the property features a north-facing backyard, which provides ample sunlight and space for outdoor living. The established, quiet neighbourhood ensures privacy, while still being close to all essential amenities. While the current house needs significant repair, the sizable block offers the perfect opportunity to redevelop. With its generous size and location, the property has great potential for redevelopment into two townhouses (STCA) or a luxury home. Whether you're looking to create your ideal coastal retreat or capitalize on the demand for modern, low-maintenance homes, this property offers a prime canvas for redevelopment. The house itself, with two bedrooms, one bathroom, and a single-car garage, is in a state of disrepair and requires substantial work. However, with a keen eye for vision and development, this property could be transformed into two stylish townhouses, making it an excellent investment in the thriving Ocean Grove market. With properties in such a prime location rarely available, this opportunity won't last long. Whether you choose to renovate, redevelop, or rent out, this property offers endless potential.

Property Features

    Location & Nearby

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    Approximate location shown. Contact agent for exact address.

    Neighbourhood Insights

    🏫
    4
    Schools
    Nearest 258m
    🚆
    1
    Transport
    Nearest 2.0km
    🌳
    17
    Parks
    Nearest 182m
    🛍️
    26
    Shops & dining
    Nearest 589m
    Nearby amenities from OpenStreetMap, within ~2km of this property

    Within 5km

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