23B Riviera Street, Mentone VIC 3194
23B Riviera Street, Mentone VIC 3194
3-bed unit on 343m² | 1984 build | No overlay constraints | School-priority pocket | Bay-village lifestyle
This unit is positioned within a low-scale residential pocket between Mentone’s bay foreshore and village centre. A practical layout is offered with three bedrooms and two bathrooms, and a 343m² land holding is included, providing more outdoor space than is typical for modern townhouses. Residential zoning with no overlay constraints is confirmed, giving a straightforward planning profile. School catchment for Mentone Primary and secondary options is seen as a strong family draw, while walkable access to local shops and the beach is valued by downsizers. A generous land parcel combined with a functional unit footprint is the clearest competitive edge, placing the property within a suburb known for lifestyle and education links. This unit serves families entering the Mentone market as well as those seeking low-maintenance living without sacrificing space.
The 1984 build may be seen as an advantage for those preferring established construction, though its age might raise maintenance considerations. Land size and layout are likely to be the primary value drivers, with internal finishes possibly dated and in need of updating. Orientation and aspect might affect natural light and liveability, while the lack of overlay constraints may allow for future adjustments. The property’s condition and any required renovation should be weighed against its land content, as these factors might materially influence the eventual sale price.
Detailed Independent Property Report prepared by PropCred Analyst team for 23B Riviera Street, Mentone VIC 3194
Checks found:
Value Risk
Liquidity Risk
2
Planning Risk
2
Income Risk
Execution Risk
1
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Market Insight
Mentone, VIC 3194, is a bayside suburb on the Frankston line, 35 minutes from the CBD. Demand is led by owner-occupier families and professionals, attracted to strong school catchments, beaches, and Westfield Southland. House prices range from $1.22m to $1.5m, with annual growth between -2.9% and +2.4%, indicating a steady but interest-rate-sensitive market. Units show stronger momentum: up to 15.9% annual growth and 4.1% gross yields. Houses take 37–46 days to sell, with volumes down 6% to around 173. Auction clearance is 57.4%, off 10.9%. Future growth is supported by a boomscore of 67 and solid rental demand, but affordability is the key constraint—house medians exceed the metro median of $974,000.
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PropCred Estimated Value
Comparable Sales: 2/36 Riviera Street (3-bed unit, 1984) – $862k | Property Price Band: $800K–$900K | Value Drivers: Land area, layout condition, school catchment
Bedrooms
2
Bathroom
1
Parking
2
Land
184m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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