269 Pascoe Vale Road, Essendon VIC 3040

Heritage façade on 926sqm | five bedrooms, two bathrooms | side laneway access | zoned for Essendon Primary and Strathmore Secondary The property’s oversized lot and period character create a rare competitive position in Essendon, where buyers typically sacrifice land for location. Five bedrooms across two levels, a sunroom, and separate kitchenette upstairs give it genuine multigenerational or dual-living potential without requiring immediate subdivision. The heritage overlay protects the streetscape but does not prevent internal reconfiguration, meaning a buyer can modernise the kitchen and bathrooms while retaining the timber fretwork and Baltic pine floors that underpin its scarcity value. This house suits a family who wants room to grow or an investor seeking a high-yield hold with future subdivision optionality. The main risk is the heritage overlay itself, which adds cost and time to any external alteration and may limit rear extension options. At 31% site coverage on 926sqm, the backyard is large but not developable without council approval, and the upstairs layout with a kitchenette and utility room suggests previous ad-hoc additions that may require structural review. The opportunity is to renovate selectively—focus on the ground-floor bathroom, update the kitchen, and landscape the backyard—then either hold for capital growth driven by land value or subdivide the rear lot once zoning permits. Buy this property for the land and the bones, not the finishes.