3 Miller Street Sebastopol VIC 3356

1950s house | 1052sqm block | subdivision potential | tenanted | General Residential Zone This property presents a clear opportunity based on land value and flexibility. Its substantial allotment in a General Residential Zone provides a competitive edge rare for a three-bedroom house, offering a dual pathway for capital growth through either renovation or future subdivision, subject to council approval. It serves an investor seeking immediate yield from the existing tenancy or a developer-renovator targeting underutilised land. Proceed with a feasibility study on subdivision costs and vacant possession timing as the primary risk mechanisms. The 1950s construction necessitates a building inspection to quantify renovation costs. Acquire the property as a strategic land bank with income cover, then pursue a development application or a value-add refurbishment. Our tailored report provides the specific comparable sales analysis and due diligence checklist to secure this property at its correct market valuation.