136 Mahoneys Road, Forest Hill VIC 3131

Character-filled family home | 676m² redevelopment canvas | Forest Hill Chase steps away | Strong street growth history | Auction 30 May This property presents a rare combination of immediate livability and long-term land value. The 676m² lot with 39% site coverage offers genuine redevelopment optionality in Whitehorse, a tightly held LGA. The existing home’s polished floors, split system cooling, and two undercover entertaining areas mean zero holding costs while you assess your strategy. For a family buyer, the double garage and catchment to Burwood Heights Primary and Forest Hill College remove compromise. The street’s annual growth range of 0.46% to 7.41% signals upside, particularly for a corner-block-like position. This suits first-home buyers wanting to enter a premium corridor or investors targeting a 4.2% gross rental yield with future subdivision potential. The key risk is Mahoneys Road traffic noise, which may cap owner-occupier demand and resale premiums for the existing house. The 9m roof height and 117m elevation offer no views or privacy buffer. Buyers should commission a building and pest report to rule out structural issues in a 2009-era home. The opportunity lies in holding for 5-7 years, then either subdividing or developing the rear portion. The absence of bushfire, flood, or heritage overlays simplifies approvals. This property works best as a live-in land bank with a clear exit via subdivision or sale to a developer.