245 Mont Albert Road, Surrey Hills VIC 3127

Character home on 654sqm | NRZ3 with heritage overlay | North-facing rear | Surrey Hills premium pocket | Strong redevelopment constrained This property offers one of the tighter landholdings in a blue-chip inner-east location where large blocks are increasingly scarce. The 654sqm north-facing site with heritage overlay positions it as a long-term hold for a buyer seeking land banking in a premium suburb, rather than immediate yield. The 1920s weatherboard with open fireplace and polished floors is currently liveable, meaning a buyer can occupy while planning a sensitive renovation or extension. It best suits an owner-occupier who values character and location over maximised square metreage, or a buyer with patience for council approvals. The heritage detection is the primary risk, as it restricts demolition and may limit redevelopment scope, adding time and cost to any major works. The single bathroom and modest 125sqm internal area reduce appeal for families seeking turnkey comfort without renovation. However, the NRZ3 zoning and large block still permit extension or rebuild with council compliance, and the north-facing rear garden is a rare amenity that supports capital growth. Hold this property as a character home with staged upgrades, or as a land position in a suburb where supply constraints support long-term value.