22 Mereweather Avenue, Frankston VIC 3199

Large beachside block | low 16% coverage | growth zoning | flood overlay | 3-4 bed classic This property presents a compelling proposition based on its substantial, under-utilized land parcel in a seaside location with explicit development entitlements. The Residential Growth Zone zoning, combined with a very low building footprint, creates immediate expansion potential or future subdivision appeal, best serving a buyer seeking a strategic land bank or a family planning a significant renovation. Its proximity to the beach and larger-than-typical block size are durable advantages that underpin long-term demand. The primary investment cost is the flood overlay, which imposes construction constraints and insurance premiums, directly impacting feasibility and holding costs. The single bathroom and older floor plan also limit its immediate rental appeal against modern stock. The commercial logic is clear: acquire for the land’s development optionality, not the existing house. This property should be held as a strategic land asset with a view to capitalizing on its zoning, not as a passive investment in its current state.