9 Allison Road, Mount Eliza VIC 3930

Large 2939sqm block in blue-chip Mount Eliza | 1967 brick home with pool and 524sqm floorplan | 18% site coverage signals future potential | School catchment and no heritage overlay The property’s primary buying case rests on its unusually low 18% building coverage on a 2939sqm block in a sought-after Mornington Peninsula location. For a buyer seeking configuration edge, this means the existing 524sqm home occupies only a fraction of the land, leaving substantial room for extension, subdivision, or a new dwelling without the constraint of heritage or flood overlays. The 1967 build, while dated, offers solid bones and a layout with four bathrooms and five car spaces that already suits a family requiring generous accommodation and guest parking. The pool and balcony add immediate lifestyle appeal, and the catchment for Mount Eliza North Primary and Secondary College strengthens demand from family buyers. This property positions well for those who value land banking with immediate livability. The primary risk is the bushfire overlay, which will impose additional construction costs and design constraints on any future development, effectively discounting the land’s raw potential. The current valuation gap,list price significantly above Domain and View estimates,means the buyer must negotiate from a position of caution, as the market may not support the premium without a clear development pathway. The opportunity lies in holding as a family home while the land appreciates, or in a staged renovation that increases rental yield above the current 3.1-3.3%. For a buyer with patience, this property is best used as a long-term land hold with a comfortable existing house.