241 Graham Street, Port Melbourne VIC 3207

North-facing single frontage | Port Melbourne Primary zone | 100% site coverage | Last traded 1975 This house presents a tightly held, generational holding on a north-facing block in a core Port Melbourne school catchment, a combination that is increasingly scarce. The lot’s full building coverage and ground elevation offer clear redevelopment optionality, while the established rental estimate provides a solid income baseline. It serves a buyer seeking a land-backed entry into the suburb with immediate utility, best suited for a long-term holder comfortable with the inherent costs of a property untouched for decades. The primary risk is the capital outlay required to modernize a house last sold in 1975, confronting the buyer with immediate renovation costs or accepting a functional deficit against newer stock. The wide disparity in automated valuations signals market uncertainty on its as-is value, making pre-auction due diligence on comparable sales non-negotiable. Acquire this for land position and hold for the cycle, using its rental capacity to offset carrying costs while the suburb matures around it.