3 Shelley Street, Heidelberg Heights VIC 3081

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3 Shelley Street, Heidelberg Heights VIC 3081

$950,000

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$950k - $1M High Confidence Calculated based on strong search observations.

House 3 Beds 1 Bath 594 m²

Listed: 24th Jul 2026

Updated: 7th Aug 2026

Overview

This property presents a unique and compelling opportunity, blending immediate comfort with significant development potential. Nestled in the desirable Heidelberg Heights area on an approximately 594 square meter land parcel, the existing home offers a tranquil setting with promising prospects for value appreciation.

The standout feature is the endorsed architectural plans and approved planning permit for a multi-unit development, thoughtfully crafted by Ikonomidis Design Studio. These plans detail three distinct residences: a versatile three-bedroom townhouse with an additional study, alongside two spacious two-bedroom homes each featuring a flexible retreat area that could transform into a third bedroom. All units are designed with open-plan ground-floor living spaces that seamlessly extend to private north-facing courtyards, fostering an inviting indoor-outdoor lifestyle.

Unit 1: A 3-bedroom plus study residence with three bathrooms and two car spaces, designed with functionality and versatility in mind including a ground-floor bedroom ideal for guests or downsizers.
Unit 2: This two-bedroom plus retreat home offers larger-than-average bedrooms and generous outdoor space, ideal for couples or small families seeking room to grow.
Unit 3: Similar to Unit 2, with emphasis on privacy and a substantial outdoor area, providing a balanced indoor-outdoor lifestyle.

Meanwhile, the existing three-bedroom home currently generates rental income of $525 per week, ensuring a steady return while development plans progress.

Strategically situated, this property benefits from close proximity to key amenities such as Rosanna Village, train station, Burgundy Street grocers and eateries, Northland Shopping Centre, Austin Hospital’s medical precinct, and La Trobe University. Easy access to major arterial roads, including the upcoming North East Link, enhances connectivity. This blend of lifestyle convenience and development potential makes the property appealing to investors, developers, and owner-occupiers with a vision for growth in a flourishing suburb.

Local Market Insights

In Heidelberg Heights, Quiet Listings observed 14 new houses entering the market over the last 30 days, up from 8 during the previous 30-day period, with an average advertised asking price of $1,032,714. The property type mix of listed properties is predominantly Houses at 54%, followed by townhouses (31%), and units (8%). The most active agency for houses in the Heidelberg Heights area is currently Nelson Alexander, representing 36% of new listings, followed by Miles Real Estate with 14%. These insights are based on agencies currently monitored by Quiet Listings and are updated as the local market changes.

While every effort is made to ensure the accuracy and completeness of the property information provided, no guarantee is given. Buyers should independently verify all details, inclusions, availability, pricing, and other relevant information directly with the listing agent before relying on this information.