394 Belmore Road, Mont Albert North VIC 3129

1950s solid brick | 1,236 m² elevated block | development or renovation potential | six bedrooms, four car spaces This property is a rare landholding in Mont Albert North, where the large elevated allotment and original solid brick construction offer a buyer genuine optionality. The configuration supports either a luxury single residence, a multi-dwelling project, or a substantial renovation, each with distinct value-add potential. The land size and position give it a competitive edge over most nearby listings, and the current price range sits below what a fully developed site might command, suggesting room for strategic negotiation. This property best suits a buyer with medium-term capital and a clear development or renovation brief, not a move-in ready home. The principal risk is the condition of the 1950s structure, which may require significant outlay before any development or renovation proceeds, and council approval is uncertain for multi-dwelling schemes. The elevated position may also present access or excavation costs. However, the land itself is the primary value driver, and holding it for subdivision or a future luxury build could deliver above-market returns. Use this property as a land bank with optionality, not a turnkey home.