1/404 Gaffney Street, Pascoe Vale VIC 3044

Corner block | 525 sqm | Mid-century freestanding | Low-maintenance north garden | Walk to station This property presents a competitively strong land position with its corner block and generous parcel in a General Residential Zone, offering clear redevelopment optionality. Its freestanding character, original but sound condition, and walking proximity to transport anchor its value for an owner-occupier seeking a low-maintenance footprint or a developer assessing future potential. The configuration serves a buyer prioritizing land banking with immediate livability. The decision hinges on capitalizing on its inherent scarcity as a sizable, detached lot. The primary risk is the capital required to modernize or rebuild, against the opportunity to secure a diminishing house-on-land product in a connected suburb. The commercial logic is to acquire the land component; hold as a residence while planning, then update or redevelop to crystallize the underlying value. Proceed with a view to its ultimate built form. * Listed: $940,000 – $1,000,000 (Expressions of Interest) * Last Sold: 2013 * Suburb Growth (Pascoe Vale): 3.1% * Rental Yield: 3.8% The listed price aligns with recent suburb growth, but the yield is modest. The multi-year holding period since its last sale suggests significant equity gain, framing the current ask as a premium for its land attributes and condition rather than its rental performance.