9 First Avenue, St Leonards VIC 3223
9 First Avenue, St Leonards VIC 3223
9 First Avenue, St Leonards VIC 3223 is a 2-bedroom, 1-bathroom house on a 650 m² lot with 2 car spaces; available sources identify it as a circa-1950/1960 cottage with hardwood floors, an original kitchen, a large front deck, and sea views. The property was listed for sale as a house in St Leonards.
mid-century cottage | 650 sqm coastal block | sea views from front deck | tightly held pocket of 12 homes | developer potential from RGZ3 zoning
The property is defined by its rare combination of a generous land holding in a tightly held pocket of only 12 homes, direct sea views from a large front deck, and mid-century character with hardwood floors and an original kitchen. Its location near the foreshore and shopping hub positions it strongly for owner-occupiers seeking a coastal cottage or downsizers wanting a manageable home close to amenity. The Residential Growth Zone framing also makes it appealing for renovators or developers drawn to land-value repricing and redevelopment options, subject to council approval. This is a land-driven proposition where the house provides character but the block and outlook deliver the competitive edge.
The dated interior, including the original kitchen, may require a significant renovation budget for owner-occupiers, while the property’s sale price might be more sensitive to redevelopment potential than to turn-key condition. Because value appears driven by land position rather than dwelling finish, buyers should weigh renovation costs against long-term land appreciation, particularly given the limited turnover in the street. The modest house on a prime coastal block means the financial case hinges on how the land is ultimately used, not on the existing dwelling’s amenity.
Detailed Independent Property Report prepared by PropCred Analyst team for 9 First Avenue, St Leonards VIC 3223
Checks found:
Value Risk
1
Liquidity Risk
1
Planning Risk
Income Risk
2
Execution Risk
2
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Market Insight
St Leonards is a coastal suburb with a mature demographic, characterised by high outright home ownership and a stable, professional resident base. Demand is driven by established owner-occupiers, creating a steady but measured market. Recent price trends have softened, reflecting a market where supply currently outweighs demand, leading to extended selling periods. Future growth is anchored in its desirable location, though the current imbalance between available stock and buyer activity presents a key constraint on price momentum.
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PropCred Estimated Value
Bedrooms
2
Bathroom
1
Parking
-
Land
650m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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