23 Lorensen Avenue, Coburg North VIC 3058
23 Lorensen Avenue, Coburg North VIC 3058
23 Lorensen Avenue, Coburg North, is a two-bedroom, two-bathroom house on a 136-square-metre lot with a dedicated ground-floor studio measuring 6.2 by 7.2 metres and no parking.
The property’s strongest competitive advantage is the unusually large ground-floor studio, which provides rare flexibility for a home office, creative workspace, or potential rental income in a suburb where such dedicated space is not typical in two-bedroom houses. Its location near Merlynston Station, Sydney Road trams, and shopping centres makes it well-suited for professionals or first-home buyers seeking a compact but functional home close to transport and amenities. The house is positioned in a small-lot residential area that attracts investors and owner-occupiers alike, though the lack of parking distinguishes it from much of the local stock and may limit appeal to car-dependent buyers.
The absence of on-site parking may materially affect the property’s value and sale price, as it is uncommon in the area and could narrow the buyer pool to those who rely on public transport or street parking. The small lot size of 136 square metres also limits outdoor space and expansion potential, which might be a consideration for buyers planning long-term use. The estimated value of $735,000 sits below the listed price range, suggesting that the studio’s added functionality is being priced in, but buyers should weigh whether the parking constraint offsets that benefit when forming a view on price.
Detailed Independent Property Report prepared by PropCred Analyst team for 23 Lorensen Avenue, Coburg North VIC 3058
Checks found:
Value Risk
Liquidity Risk
Planning Risk
Income Risk
2
Execution Risk
2
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Market Insight
Coburg North presents as a mixed residential market, with demand anchored by family buyers seeking established houses. Recent price trends show divergence, with house values experiencing modest pressure while unit performance varies significantly. The market demonstrates solid underlying demand, evidenced by consistent sales volumes and competitive auction clearance rates. Future growth is supported by its established proximity to broader Melbourne networks, though sensitivity to economic conditions is reflected in extended selling periods for some segments and fluctuating sales activity.
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PropCred Estimated Value
Bedrooms
2
Bathroom
1
Parking
-
Land
136m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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