3 Montagu Bay Road, Montagu Bay TAS 7018

Renovator opportunity in elevated Montagu Bay | Water views, 654m² land, 167m² home | Desirable street near CBD | Solar panels installed This property offers a rare combination of land size, elevation, and position in a sought-after street close to the Hobart CBD. The 654m² block with 26% building coverage provides significant scope for extension or reconfiguration, while the existing 167m² footprint already delivers multiple living spaces. The water views and proximity to the water’s edge give it a location advantage that is difficult to replicate at this price point. It is best suited to buyers who can see past the current condition and value the underlying land and positioning over a move-in-ready finish. The primary risk is the renovation requirement, which introduces cost and timeline uncertainty, particularly given the single bathroom and dated layout. Buyers should budget for a full internal overhaul and potential structural upgrades. However, the solar panels and FTTP connectivity reduce ongoing utility and connectivity costs, and the absence of bushfire or heritage overlays simplifies approvals. The opportunity lies in capturing equity through renovation in a suburb where median prices for three-bedroom houses sit at $704,000, suggesting strong underlying demand once the work is completed.