2/198 Kerferd Road, Albert Park VIC 3206
2/198 Kerferd Road, Albert Park VIC 3206
Ground floor duplex | solid brick 1930s | 285sqm land | steps from beach | heritage overlay
This property offers a rare combination of a full 285sqm land holding in a tightly held beachside pocket, paired with a solid brick 1930s duplex that provides genuine scarcity in Albert Park. The ground floor configuration with a single carport and three bedrooms positions it well for downsizers seeking single-level living without sacrificing space, or for investors who can leverage the land-to-building ratio advantage. The heritage overlay protects the streetscape character but does not prevent thoughtful renovation, and the 65% owner-occupier ratio on Kerferd Road signals stable long-term demand from buyers who value permanence over turnover.
The primary risk is the pricing gap between the current agent guide and the Domain estimated value, which suggests the vendor may be testing the market above recent comparable sales. This creates a negotiation opportunity for a buyer willing to proceed with due diligence on renovation costs and heritage constraints. The lack of flood or bushfire risk simplifies insurance and holding costs. For a buyer, this property functions best as a long-term hold with potential to add value through interior modernisation, or as a permanent residence in a school catchment area with strong auction clearance rates.
Detailed Independent Property Report prepared by PropCred Analyst team for 2/198 Kerferd Road, Albert Park VIC 3206
Checks found:
Value Risk
1
Liquidity Risk
1
Planning Risk
1
Income Risk
Execution Risk
2
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Market Insight
Albert Park presents a mature, established market with a clear divergence between its house and unit segments. Demand is anchored by owner-occupiers, predominantly families and downsizers, drawn to its stable, high-value residential character. While houses demonstrate steady capital growth with strong sales volumes, the unit market has experienced significant price corrections, indicating a notable oversupply or demand shift. Future growth for houses is underpinned by limited stock and high owner-occupancy, though the unit segment’s weakness remains a key market risk.
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PropCred Estimated Value
Bedrooms
3
Bathroom
1
Parking
1
Land
285m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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