117 The Terrace

Prime 815sqm site with dual income potential

Description

The Feel: Opportunities like this rarely present themselves along Ocean Grove's tightly held Terrace. Set on an expansive 815sqm approx allotment with an impressive 20m frontage, this unique property offers exceptional flexibility with two established dwellings on one title. The original double-storey residence delivers generous family proportions with six bedrooms, multiple living areas and elevated outlooks, while a separate three-bedroom villa at the rear provides additional accommodation or rental income. Whether you choose to maximise dual-income potential, accommodate extended family, landbank for the future, or explore redevelopment opportunities (STCA), the scale and configuration of this property unlock remarkable possibilities. Positioned just moments from the beach and a short stroll to Ocean Grove's vibrant town centre, this is a rare chance to secure substantial landholding, versatility and location in one compelling package. The Facts: -Expansive 815sqm approx allotment with wide 20m frontage in prime Ocean Grove location -Two separate dwellings on one title, offering flexibility & dual-income potential -Zoning encouraging high density development -Front residence: double-storey home with six bedrooms & multiple living areas -Large kitchen, dining & family zone opening to balcony with elevated water glimpses -Additional lounge & sunroom providing multiple living spaces for large families -Two bathrooms, laundry & double garage servicing the main residence -Rear dwelling: separate three-bedroom brick veneer villa unit -Ideal for multi-generational living, guest accommodation or rental income -Approximately 400sqm of total building area across both residences -Dual driveways & generous land dimensions 20.11m x 40.53m (approx.) -Potential for future redevelopment or further enhancement (STCA) -Walk to Ocean Grove beach, town centre, shops, cafes & amenities The Owner Loves. "We've always loved the flexibility this property offers. Having two homes on such a large block creates so many possibilities - whether it's extended family, rental income or simply enjoying the incredible location so close to the beach and town." *All information offered by Bellarine Property is provided in good faith. It is derived from sources believed to be accurate and current as at the date of publication and as such Bellarine Property simply pass this information on. Use of such material is at your sole risk. Prospective purchasers are advised to make their own enquiries with respect to the information that is passed on. Bellarine Property will not be liable for any loss resulting from any action or decision by you in reliance on the information.

Property Details