10 Lloyd Avenue, Narre Warren VIC 3805

3 bed family home | 714sqm GRZ2 lot | Narre Warren growth corridor | live-in, invest or develop options This property offers a rare combination of immediate livability and future development optionality, making it competitively positioned for buyers who want both. The 714sqm lot in GRZ2 zoning provides a structural advantage over standard family homes, allowing for subdivision or multi-dwelling development without sacrificing current rental or owner-occupier use. The dual living zones, ducted heating, and covered outdoor area ensure the house functions well for a family or tenant, while the 7.8% suburb growth and 69% auction clearance rate indicate strong demand in Narre Warren. This property best serves buyers who can hold for medium-term capital appreciation or developers seeking a compliant site with existing income. The primary risk is that the 2017 purchase price is unknown, so equity position is opaque; buyers should verify recent comparable sales on Lloyd Avenue to avoid overpaying. The 30% rental concentration on the street is moderate, but GRZ2 zoning may attract future densification, potentially altering neighbourhood character. The commercial opportunity lies in holding for 3-5 years while zoning value accrues, then either developing or selling to a developer. Use this property as a stable income-producing base with a clear exit via land value uplift.