FOR SALE
$2,000,000 - $2,200,000

46-50 Ellerina Road
Mount Martha VIC 3934

Bedrooms: 5
Bathrooms: 3
Car spaces: 2
Land area: 3555m2
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Deceased Estate Sale: Redevelopment Opportunity with Bay Views

Resting on a substantial 3,550 sqm (approx) parcel in a peaceful enclave of Mount Martha, this mid-century, double-brick home offers an unmatched opportunity for developers or renovators seeking a property with limitless potential. Capturing westerly views that stretch over Port Phillip Bay, the dual-level layout comprises of four-bedrooms, three-bathrooms and heralds a vibrant era of original charm.
The top floor features high ceilings that house a timeless corner kitchen, dining area and formal living room, where a grand open fireplace draws the eye. A balcony is elevated to offer a vantage point for the sweeping bay vistas and gentle sea breeze. Parquetry flooring, exposed brick accents, and vintage elements further define the home's character, while the master suite showcases a walk-in robe, ensuite, and wallpaper that adds a nostalgic flair.
Downstairs, the layout is more intricate. The ground floor includes a three-car garage, and a private sauna and spa, adding a touch of luxury to the potential renovation. The bold architecture, complemented by a circular driveway, makes this standout residence ideally suited to those with a vision to modernise and capitalise on its full potential.
For developers, the expansive land lures a compelling opportunity for subdivision (STCA), with the potential for three separate lots. Positioned near Martha Cove Marina, Mt Martha Village, Balcombe Grammar School, Mount Martha Golf Course, and The Briars, this property is a foundation for a lifestyle of seaside enjoyment in one of the Mornington Peninsula's most sought-after pockets.
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Property Details for 46-50 Ellerina Rd, Mount Martha

46-50 Ellerina Rd, Mount Martha is a 5 bedroom, 3 bathroom House with 2 parking spaces. The property has a land size of 3555m2. The place is currently for sale with Branthwaite Real Estate.

Building Type
House
Land Size
3555m2

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About Mount Martha 3934

The size of Mount Martha is approximately 30.3 square kilometres. It has 43 parks covering nearly 11.5% of total area. The population of Mount Martha in 2011 was 17,087 people. By 2016 the population was 18,552 showing a population growth of 8.6% in the area during that time. The predominant age group in Mount Martha is 40-49 years. Households in Mount Martha are primarily couples with children and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Mount Martha work in a professional occupation. In 2011, 83.3% of the homes in Mount Martha were owner-occupied compared with 82.4% in 2016.

Mount Martha has 9,599 properties. Over the last 5 years, Houses in Mount Martha have seen a 38.26% increase in median value, while Units have seen a 23.18% increase. As at 31 October 2024:

  • The median value for Houses in Mount Martha is $1,393,145 while the median value for Units is $768,538.
  • Houses have a median rent of $755 while Units have a median rent of $620.
There are currently 64 properties listed for sale, and no properties listed for rent in Mount martha on OnTheHouse. According to CoreLogic's data, 341 properties were sold in the past 12 months in Mount martha.

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Bill Branthwaite
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