48 Barkly Street, Portland VIC 3305

Large lot with dual access | Original home structure | No overlays | Fibre to the Node connectivity This property presents a rare opportunity to acquire a substantial parcel of land in a residential setting, with its nearly 2000 square metre lot and dual access offering significant future utility beyond the existing two-bedroom home. The absence of bushfire, flood, or heritage overlays simplifies potential development or renovation, positioning it for an owner seeking a long-term hold with flexible options. It serves a buyer looking for space and possibility over immediate modern finishes, supported by solid local school catchments and infrastructure. The primary decision hinges on the cost to modernise the original dwelling, as the verandah-configured second bedroom and basic amenities may not suit all occupants without investment. The commercial logic lies in the land’s value; the price per square metre is competitive, and the dual access could support subdivision or auxiliary uses subject to council approval. Acquire this as a strategic land bank with a liveable house, holding for capital growth driven by its scarce lot size in the area. Nearby listings provide context: a unit at 11/53 Barkly Street asks $298,000, and a two-bedroom apartment at 4/8 Barkly Street is estimated at $215,000. A comparable house on a 675m² lot at 9 Bade Avenue is listed at $439,000. This establishes that 48 Barkly Street commands a premium for its far larger landholding, suggesting the asking price is anchored in its parcel size rather than the dwelling’s condition.