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Overview
This circa 1950 cottage stands on a substantial 697sqm allotment that offers a truly rare side clearance of more than four meters, presenting significant versatility for future development or renovation. While the current two-bedroom, single-bathroom home shows signs of wear and requires extensive work, the value lies in the potential that this expansive block holds.
Prospective buyers can choose to renovate and expand the existing structure into a comfortable family residence, enhancing the home's livability and comfort. Alternatively, the generous side clearance and ample depth enable the option to retain the front cottage while constructing additional dwellings behind, subject to council approval. For investors or developers, a planning permit for a nine-bedroom rooming house is already secured, providing a clear and approved path for a substantial yield increase.
The location further enhances the property's appeal. Albion Primary School is conveniently close, making it ideal for families prioritizing education access. Albion Station is within walking distance and is slated for significant improvements as part of the Melbourne Airport Rail project, which is expected to increase connectivity. Nearby Perth Avenue offers shops and cafes for daily conveniences, while Sunshine Marketplace and the Sunshine Town Centre are just a short drive away, with Melbourne's central business district approximately 13 kilometers from the property.
This offering is specially suited for buyers who appreciate strategic potential and location benefits, presenting three distinct development pathways on one exceptional and well-positioned parcel.
Local Market Insights
In Albion, Quiet Listings observed 27 new houses entering the market over the last 30 days, down from 34 during the previous 30-day period, with an average advertised asking price of $802,889. The property type mix of listed properties is predominantly Houses at 54%, followed by townhouses (18%), and apartments (14%). The most active agency for houses in the Albion area is currently Douglas Kay Real Estate, representing 26% of new listings, followed by Ray White with 19%. 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.
Location
Albion VIC 3020
Market Insights for Albion VIC 3020
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