"An entry-level house set on 718m² in premier Oak Park, just 12km from the CBD"
** OFFERED FOR IMMEDIATE PRIVATE SALE **
- Attractive weatherboard home (circa 1960) perched up on a gently elevated, rectangular allotment with a frontage of just over 16 metres and east-facing orientation
- Fantastic floorplan incorporating 3-4 large carpeted bedrooms, multiple tiled living spaces, two updated bathrooms, laundry, updated kitchen with two gas cooktops and great-sized bungalow out back
- Features include high ornate ceilings, ducted heating, free-standing wardrobes in the bedrooms and even a couple of very handy parking bays (not on title) at the front of the property
- Step out back to a paved patio overlooking a magnificent “old school” grassed backyard
- A lucrative opportunity for developers, investors and renovators alike, with such a wonderful blank canvas from which to work from
- Permits for a 3-Unit Subdivision (including engineering) have lapsed, but can be re-submitted to Council for assessment. Note that next door (No.651) is only 52m² bigger (770m²) and the Developer was able to get a permit for 4 x Double Storey townhouses (due mainly to a reduced minimum setback from the front boundary, a precedent which could now apply to No.653)
- Furthermore, Victorian Premier Jacinta Allen has said very recently (September 2025) that the State Government is going to make it "easier, faster and cheaper to subdivide in established areas, with just a 10 business day wait time for permit approval"
- In a rising market, potential combined re-sales for 3 x new homes expected to total $3,050,000-$3,100,000
- Also suit a Dual Occupancy, where you can renovate the existing dwelling and build a large townhouse at the rear (STCA)
- Or demolish and build a new prestige family home with both a commanding street presence + plenty of room out back for a pool
- Just a short distance away from Oak Park Aquatic Centre, Oak Park train station, Oak Park State Primary, Stevenson Reserve Playground and more
- Currently leased privately as a share house to 5 x individual renters, with an outstanding return of $47,400 (approx.) per annum. This arrangement can continue post Settlement (with long-term renters keen to stay on) “or” simply Settle with immediate Vacant Possession
Why buy in Glenroy when you can aim higher?
Secure an Oak Park postcode instead!
Terms: 10% deposit
Settlement: 30-60 days
First Home Buyers (only): Take advantage of the 5% Government Deposit scheme
Selling Range: $949,000 - $955,000
Contact: Jason Padula - 0402 149 436
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