88 Kipling Avenue, Mooroolbark VIC 3138

Large block | dual-dwelling approval | long-term tenant in place | school zoning confirmed | no overlays detected. The buying case centres on a 911-square-metre parcel with approved dual-dwelling potential, which is a distinctive combination in the current Mooroolbark market. The existing brick-veneer house provides immediate rental income through a long-term tenant, reducing holding costs while future options are assessed. School zoning to Mooroolbark East Primary and Yarra Hills Secondary adds practical appeal. This property is best suited to an investor or developer seeking land-bank exposure with positive cash flow from day one, rather than an owner-occupier looking for a finished home. The main risk is that the dual-dwelling approval may carry conditions that limit yield or increase costs, and the car-space discrepancy suggests some listing details are unreliable. The price guide sits around the local median, but fair value remains unclear given the 2023 sale price and the development premium being asked. Confidence cannot be formed until the approval’s scope and expiry, tenant lease terms, and site servicing constraints are verified. Can the dual-dwelling approval be used as advertised without major redesign or council renegotiation?