1 Teresa Avenue

Corio VIC 3214

108 m²

673 m²

House

Currently for sale - view listing

Overview

The option sandwich - Corio's hidden value-add opportunity.

3 bedrooms. 70s architectural character. Quiet pocket. Serious value-add potential. Tucked away in a peaceful pocket of Corio, well away from main-road traffic, this solid three-bedroom home is all about the vibe, the bones and the opportunity. If you love the architecture of the 1970s, this one will warm your heart. Think stunning raked ceilings, gorgeous timber beams and massive floor-to-ceiling windows - one of those classic architectural designs that you simply don't see in newer homes. It has that unmistakable old-Highton feel and, with the right modernisation, could become something seriously special. She's a classy girl with great bones. But this isn't just about the home itself - it's about the upside. Currently tenanted at $400 per week, the property already offers an income stream while presenting an astute renovator with the opportunity to create instant value within the existing footprint. And then there's the backyard Positioned toward the front-left of the block, the home leaves you with a large, spacious and cleared rear yard, creating a genuine value-add opportunity. Depending on your strategy, there may be potential to: Renovate and modernise the existing home Increase rental return Manufacture equity through improvements Add a 60m² unit to the rear Explore a cost-effective build on stumps Investigate subdivision or alternative development options The beauty here is that you have options. You don't necessarily need to rely on one strategy. You can improve the existing home, add accommodation, develop the rear, or simply hold and allow the property to work within your portfolio. That's what I call the option sandwich. A property with character, land, rental income and multiple pathways to manufacture value. The real question isn't simply "What is this property worth today?" It's: "What could this be worth once you unlock the potential?" If you're looking for a positive addition to your portfolio with genuine value-add potential, this one deserves a closer look. Talk to me about the options and let's work out which strategy could deliver the best ROI.