22 Eames Avenue, Brooklyn VIC 3012

2 bed house, approved 3 townhouse permits | 697sqm development-ready block | Brooklyn infill demand | bypass planning delays This property’s primary competitive strength is the approved planning permit for three architecturally designed townhouses, effectively eliminating the most significant risk in development—council delays. For a buyer with construction capability, this translates into a compressed time-to-revenue and reduced holding costs. The 697sqm site in Brooklyn, where 59% owner-occupancy signals stable local demand, positions this as a rare turnkey development opportunity rather than a standard house purchase. It suits a builder-developer or an investor seeking to add value through immediate construction, not a family looking for a ready home. The principal risk is the disconnect between the current asking price range and the underlying 2 bed, 1 bath dwelling’s estimated value—which sits notably lower based on recent comparable sales. The buyer pays a premium for the permit’s convenience, and any construction cost overruns or softening in townhouse demand could compress margins. Commercially, the logic holds if the buyer can execute within budget and sell into Brooklyn’s infill market. Hold this property only as a development vehicle; do not treat it as a long-term rental with the existing house.