FOR SALE
$2,700,000 - $2,950,000

153-157 The Terrace
Ocean Grove VIC 3226

Bedrooms: 3
Bathrooms: 2
Car spaces: 2
Land area: 1891m2
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Unrivalled Elevated Position with Outstanding Potential

Expression of Interest closing Thursday, 7th of November at 5pm (Unless Sold Prior)
Set to a picture-perfect ocean backdrop with coastline views extending all the way to Cape Schanck, this much-loved architectural residence spans over an impressive 1891sqm (approx.) allotment, presenting a rare opportunity to renovate or redevelop in one of Ocean Grove’s most desirable settings.
Held by its original owners for 40 years, the existing mudbrick home has been masterfully designed to maximise its elevated position with wall-to-wall glazing drawing in the coastal outlook from multiple vantage points.
High raked ceilings and exposed timber beams enhance the sense of space and character, solid timber floors flow throughout, and a split-level three-bedroom, two-bathroom floorplan showcases voluminous interior spaces that invite you to engage your architect and unleash your imagination.
The first-class credentials continue outdoors as a manicured garden paradise guides you through mature plantings and lush greenery to discover an inground swimming pool nestled at the base of the gently sloping site.
While its original attributes and solid construction present the ideal foundations for contemporary enhancement, the home’s inherent appeal lies in its unlocked opportunities for the future. Explore the unrivalled potential to design and construct a trophy home or pursue the significant scope for a luxurious multi-dwelling development (STCA).
A rare opening in an elite seaside locale where the lifestyle is as impressive as the opportunity, this property sits within 750m of Ocean Grove’s vibrant retail and dining hub, while immediate access to Tuckfield Street enables a 300m walk to direct beach access. This is opportunity at its ultimate.
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Property Details for 153-157 The Terrace, Ocean Grove

153-157 The Terrace, Ocean Grove is a 3 bedroom, 2 bathroom House with 2 parking spaces. The property has a land size of 1891m2. The place is currently for sale with RT Edgar Ocean Grove.

Building Type
House
Land Size
1891m2

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About Ocean Grove 3226

The size of Ocean Grove is approximately 18.5 square kilometres. It has 22 parks covering nearly 16.5% of total area. The population of Ocean Grove in 2011 was 12,555 people. By 2016 the population was 14,161 showing a population growth of 12.8% in the area during that time. The predominant age group in Ocean Grove is 0-9 years. Households in Ocean Grove are primarily couples with children and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Ocean Grove work in a professional occupation. In 2011, 75.8% of the homes in Ocean Grove were owner-occupied compared with 76.1% in 2016.

Ocean Grove has 11,302 properties. Over the last 5 years, Houses in Ocean Grove have seen a 36.81% increase in median value, while Units have seen a 21.01% increase. As at 31 October 2024:

  • The median value for Houses in Ocean Grove is $991,968 while the median value for Units is $770,658.
  • Houses have a median rent of $580 while Units have a median rent of $520.
There are currently 170 properties listed for sale, and 17 properties listed for rent in Ocean grove on OnTheHouse. According to CoreLogic's data, 385 properties were sold in the past 12 months in Ocean grove.

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Archie Nankivell
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RT Edgar Ocean Grove
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