128 Richmond Avenue, Melrose Park SA 5039

Fireplace | family street | 754sqm | underquote | auction soon The property’s core advantage is its land-to-building ratio on a deep 754sqm block in a tightly held pocket of Melrose Park, where 90% of Richmond Avenue residents are owner-occupiers and 73% are long-term. With 34% building coverage, the 259sqm floorplan offers four bedrooms, two living areas, and three bathrooms including an ensuite, which positions it well for families seeking space without a knockdown rebuild. The 1956 build with open fireplace and outdoor entertainment area gives it a character edge over newer infill, while FTTP and 5G connectivity support modern work-from-home needs. The flood overlay introduces a material constraint, likely limiting future subdivision or significant ground-level extensions without costly engineering. The $1.8m listing sits below the estimated value range of $1.81m–$2.06m, which suggests either a strategy to drive auction competition or a reflection of the overlay’s discount. With only two properties for sale in the suburb and the street seeing just two recent sales, buyers face limited comparables and thin supply. The auction on 9 May means inspection on 6 May is the only chance to assess condition before bidding. For a buyer who values a large family home on a quiet, stable street and can accept the overlay restrictions, this is a hold-and-enjoy property rather than a development play.