10-12 Fern Street, Portland VIC 3305

Dual occupancy coastal holding | Renovated 3-bed plus separate dwelling | 910sqm with development flexibility | School catchment and no overlay constraints The property presents a rare dual-occupancy configuration on a single title, offering immediate rental income or multigenerational living without subdivision complexity. The renovated three-bedroom house at number 10 provides modern finishes including stone benchtops and split-system climate control, while the second dwelling adds independent accommodation. Positioned within walking distance of Portland Primary School and with no bushfire, flood, or heritage overlays, the site reduces typical coastal planning risk. The 16% building coverage leaves substantial land for future extension or redevelopment, making this suitable for investors seeking land-bank optionality or families wanting separate spaces. The primary risk lies in the significant gap between the $975,000 listing and third-party valuations of $480,000–$585,000, indicating either an aspirational price or unquantified development potential. Buyers should verify whether the second dwelling has separate utility meters and legal occupancy status, as this affects financing and rental yield calculations. The 10 open car spaces suggest the site may have been used commercially, warranting council confirmation of current residential zoning compliance. For a buyer willing to negotiate firmly and conduct due diligence on the second dwelling’s approvals, the property offers a rare land-holding opportunity in a coastal town with strong school catchment demand.