249 Moray Street, South Melbourne VIC 3205

3 bed house | 126m² land | private courtyard | ROW access | study nook This property offers a rare inner-city house configuration—three bedrooms on a compact freehold block with a private courtyard and rear lane access—that typically attracts premium attention from buyers seeking a low-maintenance alternative to apartments. The study nook and balcony add functional versatility for professionals or small families who prioritise location over space. It serves best as an immediate owner-occupier home with strong resale appeal in a tightly held pocket of South Melbourne. The small land size and single bathroom limit appeal to some families and may constrain future capital growth relative to larger blocks. However, the ROW access and courtyard present a logical opportunity for a modest rear extension or studio subject to council approval, adding value without overcapitalising. Renovation timing should align with a 5–7 year hold to capture area gentrification.