141A Powell Street E, Ocean Grove VIC 3226

Modern luxury finishes | North-facing living | 4 bed, 3 bath configuration | Prized Old Ocean Grove location. This property presents a competitively strong offering within a tightly held precinct, distinguished by its high-specification modern build and efficient four-bedroom, three-bathroom layout on a smaller, low-maintenance block. The north-oriented living domain, executive kitchen, and dual living zones deliver polished family functionality, while the separate guest suite and potential for short-term accommodation appeal to both multigenerational and holiday-rental buyer profiles. Its position, walking distance to the patrolled beach and village centre, capitalises on permanent and holiday demand, serving buyers seeking a turnkey coastal home with superior amenity over a traditional renovation project. The primary decision point is the premium commanded for its modern configuration against the smaller land parcel, a trade-off for immediate livability in a location where larger blocks typically feature older stock. The estimated rental range supports a purchase for investment, but the commercial logic for a high-performing short-term rental requires council approval. Recent comparable sales indicate the asking price aligns with the premium for renovated or new homes in the area. Proceed with an offer reflecting its superior finish and rental appeal, but structure any contract conditional on verifying development permissions if an investment yield beyond standard leasing is required. Recent nearby sales provide context: 23 Sep 2025, a 414m² property with 3 beds, 2 baths sold for $1,300,000 after 36 days. Another sold for $1,310,000 against a $1m-$1.1m guide. This property’s higher bed and bath count, modern finishes, and north-facing aspect justify its price positioning above these comparables, though the smaller land size relative to older nearby homes like 140 Powell St East is a clear value differentiator.