17 Margate Avenue, Frankston VIC 3199

Subdividable flat block | Frankston High zone | DA-approved second dwelling | Opposite Bruce Park This property offers a rare combination of a flat, subdividable block and dual-occupancy approval in a sought-after school zone, giving a buyer immediate optionality. The 775m² site with rear access and a DA for a four-bedroom second dwelling creates two distinct value streams: a renovated coastal home for family occupation and a developable rear lot. For a buyer seeking land banking with rental income or a multigenerational setup, this configuration is competitively scarce in the Frankston High catchment. The light-filled layout, covered deck, and mature garden support strong owner-occupier appeal, while the school zone ensures sustained demand. The primary risk is the property’s below-average energy efficiency score of 3.6, which may increase holding costs and reduce appeal to future buyers if not addressed. The $1,000,000–$1,050,000 price guide sits above the estimated value range of $907,000–$923,000, meaning the buyer pays a premium for the DA and subdivision potential. Commercial logic favours exercising the development approval quickly to unlock value, or holding as a dual-income property with the rear dwelling rented. Use the DA as leverage during negotiation, and budget for energy upgrades to improve long-term resale position.