80 Belgrave-Gembrook Road, Belgrave VIC 3160

creek frontage in Belgrave | 1557sqm flat usable land | 1920s character with modern updates | Selby Primary and Upwey High zones The property’s competitive strength lies in its rare combination of a large, flat 1557sqm lot backing onto Monbulk Creek, paired with a renovated 1920s home that offers multiple living zones and a master suite with spa ensuite. This configuration is uncommon in Belgrave, where steep, bushfire-prone blocks dominate, giving a buyer a defensible edge in a market where family-oriented, low-maintenance acreage is undersupplied. The 13% site coverage and 206sqm building footprint suggest significant future subdivision or extension potential, while the ducted heating and new 7kW split system make the house immediately habitable. It best serves a family seeking a private hills sanctuary with school catchment advantages and room to add value. The key risk is the bushfire overlay and flood overlay, which will constrain any redevelopment and may increase insurance costs, but these are standard for the area and do not undermine the property’s core livability. The 2022 sale price and recent nearby sale at $730,000 on a smaller lot indicate the current listing is positioned near market, though the 4.2% suburb decline suggests patience in negotiation. An opportunity exists to capitalise on the flat rear yard and creek frontage for a future granny flat or studio, boosting rental yield above the 4.4% suburb average. Hold this property as a long-term family home with optionality to subdivide or develop when zoning permits.