4 Pattison Avenue
North Geelong, VIC 3215

This property presents an off-market opportunity to acquire a well-positioned 3-bedroom duplex located in the desirable suburb of North Geelong. The residence at 4 Pattison Avenue offers a comfortable living environment with a practical layout suitable for families or investors.

The duplex is part of a pair, with the neighboring property at No. 2 Pattison Avenue also featuring 3 bedrooms. Both properties currently have long-term tenants, providing a steady rental income stream. Buyers have the flexibility to purchase either property individually or both together, depending on their investment strategy.

Recent upgrades have been made to both homes, enhancing their appeal and functionality. However, there remains significant potential for further improvements to increase value and comfort. The current leases are approaching expiration, offering the option to acquire the property vacant or to continue leasing arrangements.

The zoning for this location is General Residential Schedule 1, which supports residential development. The combined land area of both properties totals approximately 1089 square meters, presenting an attractive prospect for redevelopment or the construction of multiple new dwellings, subject to council approval (STCA).

For context on market activity in the area, a nearby property at 6 Pattison Avenue, a 2-bedroom home on a 451 square meter lot requiring extensive renovation, recently sold at auction for $495,000. This provides a benchmark for the value and potential of properties within this precinct.

Price guides for the properties are as follows: 4 Pattison Avenue is listed between $615,000 and $640,000, while 2 Pattison Avenue is priced between $645,000 and $695,000. Prospective buyers should note that the images provided may not reflect the current condition of the property.

This opportunity is ideal for investors seeking rental income, owner-occupiers looking for a home with development potential, or developers interested in capitalizing on the sizeable combined land parcel. The location in North Geelong offers convenient access to local amenities, schools, and transport links, enhancing the lifestyle appeal.

Interested parties are encouraged to conduct their own due diligence and inspections to fully appreciate the scope and potential of this offering. The property represents a solid investment with multiple avenues for value enhancement in a sought-after area.