2/198 Kerferd Road, Albert Park VIC 3206

Ground floor duplex | solid brick 1930s | 285sqm land | steps from beach | heritage overlay This property offers a rare combination of a full 285sqm land holding in a tightly held beachside pocket, paired with a solid brick 1930s duplex that provides genuine scarcity in Albert Park. The ground floor configuration with a single carport and three bedrooms positions it well for downsizers seeking single-level living without sacrificing space, or for investors who can leverage the land-to-building ratio advantage. The heritage overlay protects the streetscape character but does not prevent thoughtful renovation, and the 65% owner-occupier ratio on Kerferd Road signals stable long-term demand from buyers who value permanence over turnover. The primary risk is the pricing gap between the current agent guide and the Domain estimated value, which suggests the vendor may be testing the market above recent comparable sales. This creates a negotiation opportunity for a buyer willing to proceed with due diligence on renovation costs and heritage constraints. The lack of flood or bushfire risk simplifies insurance and holding costs. For a buyer, this property functions best as a long-term hold with potential to add value through interior modernisation, or as a permanent residence in a school catchment area with strong auction clearance rates.