Positioned on a generous 641m² (approx.) allotment, this beautifully maintained white weatherboard home has been tastefully renovated throughout in 2020 and presents an exceptional opportunity for homeowners, investors and developers alike.
Originally designed as a three-bedroom home, the property is currently configured as two bedrooms, with the existing floor plan providing a straightforward opportunity to reinstate the third bedroom. Based on indicative renovation costs, purchasers may invest approximately $8,000$10,000 to return the home to its original layout. Subject to market conditions and the quality of the completed works, this improvement has the potential to add approximately $30,000$60,000 in value while enhancing the property's rental appeal and overall marketability.
Currently leased at $360 per week, with a scheduled rental increase to $390 per week from October 2026, the home offers immediate holding income. Once converted back to a three-bedroom residence, the property is estimated to achieve a rental return of approximately $400$430 per week, depending on the standard of fixtures, finishes and prevailing rental market conditions.
Ideally positioned within easy walking distance of Norlane train station and approximately 15 minutes walk to Corio Village Shopping Centre, this convenient location also offers easy access to schools, parks, medical facilities, public transport and the Princes Freeway, providing excellent connectivity to both Geelong and Melbourne.
Property Features
· Beautifully maintained white weatherboard home
· Fully renovated throughout in 2020
· Generous 641m² (approx.) allotment
· Originally a three-bedroom home
· Existing floorplan allows for a straightforward reinstatement of the third bedroom
· Estimated renovation cost of approximately $8,000$10,000
· Potential value uplift of approximately $30,000$60,000 (estimate only, subject to market conditions)
· Estimated rental return of approximately $400$430 per week once reinstated as a three-bedroom home (subject to fit-out and market conditions)
· Currently leased at $360 per week
· Rental increase to $390 per week from October 2026
· Future subdivision potential (STCA)
· Walking distance to Norlane train station
· Approximately 15 minutes' walk to Corio Village Shopping Centre
· Ideal opportunity for investors, developers and owner-occupiers
Whether you're searching for a quality investment with immediate rental income, a property offering genuine value-add potential, or a site with future development opportunities (STCA), this impressive home represents outstanding buying in one of Norlane's most convenient and rapidly evolving locations.
Opportunities that combine immediate income, renovation upside and future development potential are increasingly difficult to find. Inspect today and discover the possibilities for yourself.
