72 Mchaffie Street, Ventnor VIC 3922

Peaceful coastal pocket | 903sqm block | original condition | tightly held street This property’s primary advantage is its large, flat block in a tightly held street where 95% of owners are long-term residents and only one sale has occurred recently. The 903–911sqm lot, with just 11% building coverage, offers rare expansion or redevelopment optionality in a suburb where median house prices sit at $672,500. The north-facing deck, original timber floors, and two living areas provide a functional layout that can be improved incrementally. The location 350 metres from Ventnor Beach and within walking distance to the local cafe and store makes it suitable for families seeking a coastal retreat or first-home buyers wanting to update a property in a quiet, owner-occupied enclave. The NBN FTTP connection is a supporting convenience. The bushfire overlay is a material risk that may increase insurance costs and limit certain renovations or extensions without council approval. The property has not been updated since 2001, requiring a full kitchen, bathroom, and likely structural checks, which a buyer should budget at $80,000–$120,000 for a functional renovation. The suburb’s negative growth and zero auction clearance rate suggest weak short-term capital appreciation, so the commercial logic rests on buying below replacement cost for land and holding for medium-term gains or converting to a rental yielding around 3.4%. Use this property as a long-term hold with staged improvements to unlock equity.