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5 Madeley Street

Ocean Grove VIC 3226

2
1
1
834 m²
House
Currently for sale - view listing

Overview

Rare Redevelopment Opportunity in Ocean Grove!

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.

Features

2 bedrooms
1 bathroom
1 carspace
1 garage space
834 m² lot size
House

Happy sellers in Ocean Grove

79%
79% of sellers in Ocean Grove reported that their sale price either exceeded or met their price expectations.

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

This is based on voluntary sentiment collected from 20 reviews in Ocean Grove over the last 12 months.

Local market activity for 2 bedroom houses in Ocean Grove

In the last 12 months, 5 two-bedroom houses similar to 5 Madeley Street, have been sold.

This represents a 55% increase in two-bedroom houses sales when compared to the previous 12 months.

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