11 Belmont Avenue, Upwey VIC 3158

Dual living configuration | Elevated valley views | Large 1205m² lot | Separate utility meters | Bushfire overlay This property presents a compelling case based on its functional duality and unique positioning. The approved dual-living configuration on a significantly larger-than-typical lot creates immediate rental flexibility or multi-generational utility, further supported by separate metering. Its elevated stance captures permanent views, a rare and fixed amenity in the area, positioning it above standard offerings in central Upwey and serving investors seeking dual income or owner-occupants requiring separate spaces. Decision hinges on navigating the bushfire overlay, which imposes construction constraints and potential insurance costs, against the commercial logic of its existing income-ready setup. The absence of recent sales history necessitates a cautious valuation approach. The opportunity is a future-proofed holding; its configuration and land bank support value retention regardless of market phase. Proceed with a disciplined price ceiling reflecting overlay mitigation costs, as its utility guarantees performance.