Prime Development Opportunity in the Heart of Coburg North

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53 Rodney Avenue, Coburg North VIC 3058

$900,000 - $990,000

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$900k - $945k Transparent Transparent Listing Based on an openly advertised listing price.

House 3 Beds 2 Baths 2 Cars 677 m²

Listed: 13 hours ago

Overview

Situated in a highly sought-after locale of Coburg North, this property offers a prime development opportunity that attracts a diverse range of buyers including developers, investors, and those seeking future growth potential. The existing home is accompanied by a separate rear bungalow, giving ample flexibility for renovation, dual living arrangements, or redevelopment possibilities subject to council approval (STCA).

Occupying a substantial 677 square meter land parcel, this residence combines the benefits of a well-established suburban location with practical off-street parking for two vehicles. The 3-bedroom, 2-bathroom configuration offers comfort and convenience, balanced well with functional spaces that adapt to a variety of living or investment preferences.

Conveniently close to schools, parks, shopping precincts, and accessible public transport, the property integrates lifestyle accessibility with the potential for significant capital growth. Whether for an astute investor, developer, or discerning buyer envisioning renovation or expansion, this home presents a unique chance to secure a foothold in an increasingly desirable area.

Careful consideration of redevelopment options and renovation will unlock the value in this sizeable parcel, which stands out in today's competitive market as a valuable asset. The property is an excellent proposition for those ready to explore its possibilities and maximize the site's potential.

Local Market Insights

In Coburg North, Quiet Listings observed 36 new houses entering the market over the last 30 days, up from 22 during the previous 30-day period, with an average advertised asking price of $1,188,833. The property type mix of listed properties is predominantly Houses at 55%, followed by apartments (17%), and townhouses (8%). The most active agency for houses in the Coburg North area is currently Nelson Alexander, representing 42% of new listings, followed by Ray White with 25%. 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.