355 Flemington Road, North Melbourne VIC 3051

Victorian cottage reimagined | Royal Park frontage | rear lane parking | rare light-filled floorplan The property offers a genuinely uncommon combination in North Melbourne: a Victorian cottage with a full architectural renovation that prioritises natural light and indoor-outdoor flow, directly facing Royal Park. For a buyer seeking a lock-and-leave home with character and modern comfort, the hydronic heating, split-system cooling, motorised blinds, and skylit kitchen with Bosch appliances remove the need for immediate capital works. The rear right-of-way access for a small car or motorbike adds practical value in a tight inner-city market. This house is best suited to a professional couple or downsizer who values park proximity, tram access, and a quiet rear garden over a larger footprint. The detected heritage and flood overlays introduce constraints on future alterations and may affect insurance costs; a full due diligence check on overlay specifics is recommended. The property last transacted in 1991, meaning the current price guide reflects significant land value uplift and renovation costs, leaving limited short-term capital growth margin. However, the strong suburb median of $1.4m and 3.4% annual growth support medium-term hold. For a buyer, use this as a long-term home with optionality to sell into a tight market or rent at a 3.5% yield if circumstances change.