1/21-23 Florence Street, Mentone VIC 3194
1/21-23 Florence Street, Mentone VIC 3194
This is a ground-floor, two-bedroom, one-bathroom unit with a notable two-car garage and a generous 84-square-metre land holding. It sits in a quiet pocket of Mentone, a coastal suburb where older-style units on larger lots are becoming increasingly uncommon. The configuration is straightforward, but the parking and land area give it a practical edge over typical two-bedroom stock in the area.
What is competitively strong here is the combination of a double garage and a larger-than-average unit footprint. Most comparable units in Mentone offer one car space and tighter floorplans, so this property serves buyers who need vehicle storage or extra room without moving to a house. It suits owner-occupiers looking for a low-maintenance base near the coast, particularly those who value secure parking over modern finishes. The unit sits within a well-established block, which tends to attract a steadier buyer pool than newer developments.
The main factor that may affect value is the building’s age, given the complex existed by the late 1970s. Older units often carry higher ongoing maintenance expectations and may lack the energy efficiency or layout appeal of newer stock. The listing price range appears conservative relative to the land size and parking provision, which might reflect the need for cosmetic updates or a longer holding period. A buyer should weigh the cost of any refurbishment against the benefit of securing a larger unit in a coastal suburb where supply is limited.
Detailed Independent Property Report prepared by PropCred Analyst team for 1/21-23 Florence Street, Mentone VIC 3194
Checks found:
Value Risk
1
Liquidity Risk
1
Planning Risk
1
Income Risk
Execution Risk
1
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Market Insight
Mentone is a well-established bayside suburb positioned for lifestyle and family appeal, with strong transport links and quality schools. Demand is driven predominantly by owner-occupying professionals and families, attracted by its coastal proximity and established amenity. Recent market conditions show varied price momentum across property types, with a discernible sensitivity to interest rate changes affecting auction performance. Future growth is underpinned by its enduring desirability and rental demand, though key constraints include high entry prices impacting affordability and variable sales volumes reflecting broader market caution.
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PropCred Estimated Value
Bedrooms
2
Bathroom
1
Parking
2
Land
84m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
·
Reviewed by Matt Proctor, Principal Analyst
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