Back 5 Madeley Street
Off Market

5 Madeley Street

Ocean Grove VIC 3226

2
1
1
834 m²
House
Last sold for $790,000
Hugh McKewanHugh McKewan, last sold this property on 04 August 2026 after 538 days on market.

Overview

Rare 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. 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

Estimated Value

Based on this property and similar 2 bedroom houses sold in Ocean Grove over the last 12 months, the estimated median property value of 5 Madeley Street is $835k.

Median value
$835k
Estimated value range
$550k - $950k
Median days on market
91
Estimated value trend
6%
increase over the last 12 months
Average days on market is based on recent, comparable sales in Ocean Grove. It is only an indication of the time a property is actively listed and should not be relied upon as an accurate representation of how soon a property will be sold.

Property history for 5 Madeley Street

2026
Sold
$790,000
04 Aug 2026 by Hugh McKewan, of Hayden Real Estate - Ocean Grove

Happy sellers in Ocean Grove

77%
77% 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 18 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 50% increase in two-bedroom houses sales when compared to the previous 12 months.

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