69 Somers Avenue, Macleod VIC 3085

Original condition | large 700sqm block | Macleod College zone | tightly held pocket This property offers a rare combination of scale and location in a tightly held pocket of Macleod. The 700sqm landholding with 39% site coverage and no overlays gives a buyer genuine optionality , renovate the existing four-bedroom home, extend, or redevelop subject to council approval. The Macleod College zoning and walkable proximity to station and schools underpin strong demand from family buyers, which supports both resale and rental exit strategies. It is best suited to a renovator or builder seeking a value-add proposition in a low-supply area, or a developer patient enough to navigate a subdivision or townhouse application. The primary risk is the original condition of the dwelling, which will require meaningful capital outlay to bring to a modern standard , budget for a full kitchen, bathroom, and structural refresh. The estimated market value from Domain sits above the current asking range, suggesting some upside if the property is acquired at the lower end. However, the 1983 purchase price and recent off-market status indicate the vendor may have a low cost base, so negotiation room may be limited. Hold for medium-term capital growth driven by land scarcity, or renovate and sell into the active family market within 12–18 months.