67 Hovell Street, Yarrawonga VIC 3730

Large block with side access | central Yarrawonga position | opposite bowls club | potential for extension or redevelopment This property presents a competitively strong offering due to its large, usable lot in a central location, a configuration increasingly rare in established towns. The side access to a substantial carport and multiple outbuildings provides immediate utility for trades or hobbies, while the land size directly enables future expansion, serving an owner-occupier seeking a footprint for growth or an investor eyeing long-term land banking. Its position opposite community amenities and within walking distance to core services underpins its enduring convenience and rental appeal. The decision hinges on acknowledging its current presentation as a basic three-bedroom house, requiring capital to realize the latent value in its land. The price must account for renovation costs to modernize the interior or for holding costs during a planning process. The commercial logic is clear: acquire for the land with the existing house providing interim use or income. This is a hold-and-improve proposition, not a passive investment; its value will be unlocked through active asset management, making it unsuitable for a hands-off buyer. A comparable sale at 16 Hovell Street, a smaller two-bedroom house on 530m², sold for $469,000. This transaction demonstrates a clear price sensitivity to land size and bedroom count in the immediate locale. It establishes a credible baseline, suggesting the subject property’s larger land parcel and additional bedroom command a justifiable premium, anchoring the asking price within an observable market context.