10 Morrison Place, East Melbourne VIC 3002

Renovated Victorian terrace | East Melbourne heritage pocket | 149sqm land | 2-3 car spaces The property’s primary competitive strength is its freestanding Victorian form on a compact but usable 149sqm lot, recently refurbished to modern standards while retaining period character. In a tightly held heritage precinct where most stock is strata-titled or attached, the combination of three bedrooms, two bathrooms, and off-street parking for two to three cars is genuinely rare. This positions the house well for professional couples or small families seeking a lock-and-leave residence with immediate amenity and no renovation lag. The building coverage at 75% and absence of flood or bushfire overlays reduce hidden holding costs, while the zoning for Carlton Gardens Primary School and proximity to the CBD add practical appeal for owner-occupiers. The heritage overlay is the material constraint here, limiting future vertical or rear extension without council approval and narrowing the pool of buyers who can act decisively. The property’s last recorded sale was in 2004, and the current listing has only been on market four days, which may indicate a motivated vendor but also limited recent transaction evidence for benchmarking. Rental estimates of $1,680–$2,000 per week suggest a viable hold strategy if acquisition is at the lower end of the indicative range, though the yield will be modest relative to capital outlay. For a buyer seeking a well-located, low-maintenance home in a prestige postcode with strong long-term capital preservation, this property offers a clean entry point—hold as a primary residence and reassess if zoning or planning policy shifts permit a future rear addition.