79-81 Lake Avenue, Ocean Grove VIC 3226

Lake outlook | 1208sqm block | 287sqm floorplan | 1965 build | five-bedroom family configuration The property’s primary buying case rests on the rare combination of a lake outlook with a substantial 1,208sqm landholding in Ocean Grove, where such size is increasingly uncommon. The 287sqm internal area provides genuine family scale, and the five-bedroom, three-bathroom layout supports multi-generational living or high-end holiday use without requiring immediate reconfiguration. For a buyer seeking a long-term family home with immediate lifestyle amenity and latent land value, this property occupies a strong negotiating position relative to comparable offerings in the area. The principal risk is the 1965 build year, which may require significant updating to mechanical systems, insulation, or structure despite the described luxurious presentation. Buyers should budget for a thorough building and pest inspection and anticipate potential retrofit costs. The opportunity lies in the land-to-floor-area ratio, which, subject to local planning controls, may support future subdivision, extension, or a dual-occupancy scenario. The lake outlook is a genuine scarcity feature that should underpin long-term value retention, while FTTP connectivity adds a minor but useful convenience for remote work or digital lifestyle needs.