39 Olive Avenue, Mildura VIC 3500

3 bed house, walk to CBD | 660sqm block, high ceilings | character with shed and carport | suited to renovator or developer This property offers a rare combination of a walk-to-CBD location and a 660sqm block in Mildura, where such land size near the centre is increasingly scarce. The 118sqm house with high ceilings and floorboards provides a solid shell for a cosmetic renovation, and the separate 6x4m shed adds practical utility. It best suits a buyer seeking a long-term hold with immediate rental income potential, given the estimated $590+ per week yield, or a developer looking at future townhouse subdivision in a tightening market. The main risk is the price expectation, sitting near the top of the valuation range, which leaves limited short-term equity gain without significant renovation. The 2021 purchase price of $437,500 indicates the market has moved, but buyers should budget for evaporative cooling replacement and potential electrical or plumbing upgrades in an older house. The opportunity lies in adding value through a targeted $50,000-$80,000 renovation to lift the property into the $700,000+ bracket, or holding for land appreciation as CBD-adjacent blocks become rarer. Use this as a buy-and-hold with a renovation trigger within two years.