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5 Lexton Avenue

Dandenong VIC 3175

3
1
House
Currently for sale - view listing

Overview

Endless Potential on 687sqm – First Home, Investment or Development Opportunity (STCA)

Hockingstuart Dandenong proudly presents an exceptional opportunity to secure a substantial 687sqm (approx.) allotment in one of Dandenong's most convenient and well-connected locations. Whether you're a first home buyer, investor, developer or land banker, this versatile property offers immediate rental income together with exciting future development potential. Zoned General Residential Zone – Schedule 1 (GRZ1), the property provides scope for a dual occupancy or multi-dwelling development (STCA). Currently tenanted at $1,977 per calendar month**, the property generates an immediate return while future plans are considered. The existing home comprises three bedrooms, a central bathroom, spacious lounge and a functional kitchen with adjoining meals area featuring gas cooking. A split system heating and cooling unit provides year-round comfort, while the expansive backyard offers plenty of space and future possibilities. Property Features: * Approx. 687sqm allotment * General Residential Zone – Schedule 1 (GRZ1) * Potential dual occupancy or redevelopment opportunity (STCA) * Currently leased at $1,977 per calendar month * Three bedrooms * Central bathroom * Spacious lounge room * Kitchen with adjoining meals area * Gas cooking appliances * Split system heating and cooling * Large backyard with future development potential Location Highlights: * Minutes to Dandenong Station * Close to Dandenong Square shopping centre * Near Dandenong Market and local cafes * Easy access to Princes Highway and EastLink * Close to schools, childcare and public transport * Convenient access to Melbourne CBD and surrounding suburbs Invest, Develop or Move In Later Large landholdings with development potential are becoming increasingly difficult to find in Dandenong. With strong demand for quality housing and continued growth throughout Melbourne's south-east, this property represents an outstanding opportunity to secure a sizeable parcel of land with immediate rental income and future upside. Whether you're looking for your first investment, a future development project or a land banking opportunity, 5 Lexton Avenue offers the flexibility and potential to suit a range of buyers. **Inspect today and explore the possibilities.**

Features

3 bedrooms
1 bathroom
House

Property history for 5 Lexton Avenue

2024
Rented
Undisclosed
Leased on 12 Mar 2024 by Hockingstuart Dandenong

Happy sellers in Dandenong

87%
87% of sellers in Dandenong reported that their sale price either exceeded or met their price expectations.

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

This is based on voluntary sentiment collected from 126 reviews in Dandenong over the last 12 months.

Local market activity for 3 bedroom houses in Dandenong

In the last 12 months, 91 three-bedroom houses similar to 5 Lexton Avenue, have been sold.

This represents a 2% increase in three-bedroom houses sales when compared to the previous 12 months.

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