2 Montague Avenue, St Kilda East VIC 3183

Corner block with side-access potential | Rare single-level period house in St Kilda East | Immediate liveability plus future redevelopment optionality | Zoned for Ripponlea Primary School This property offers a genuinely uncommon configuration for the suburb: a single-level 1940s house on a 521-square-metre corner block with 38% building coverage. For a buyer, that low coverage ratio represents significant residual land value, particularly given the side access from Nottage Street which creates off-street parking potential without sacrificing garden space. The interconnected living zones with original timber flooring and open fireplace retain period character while the granite kitchen update means the house is immediately habitable, which reduces holding costs during a renovation or DA process. The property serves best for a buyer seeking a family home with school catchment advantages who also wants optionality to extend, rebuild, or hold as a rental with a 3.5% suburb yield. The primary risk is the auction format with a $1.9-2.09 million guide, which sits above the suburb median house sale of $1.56 million and may reflect a vendor expectation premium for the corner position and development potential. Buyers should factor that the optional fourth bedroom is small and the floor area varies between listings, so independent measurement is prudent. The opportunity lies in acquiring a corner block with no heritage overlay in a sought-after school zone, where the building coverage headroom allows a ground-up rebuild or significant extension without needing to demolish a structurally sound dwelling. Hold this property for its land-to-improvement ratio and school catchment demand.