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Sold on 09 Dec 2023 for $700,000

139 Palmerston Avenue
Dromana VIC 3936

Bedrooms: 3
Bathrooms: 1
Car spaces: 3
Land area: 816m2
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Property Details for 139 Palmerston Ave, Dromana

139 Palmerston Ave, Dromana is a 3 bedroom, 1 bathroom House with 3 parking spaces. The property has a land size of 816m2. While the property is not currently for sale or for rent, it was last sold in December 2023. There are other 3 bedroom House sold in Dromana in the last 12 months.

Building Type
House
Land Size
816m2
Local Government
Mornington Peninsula
Lot/Plan
11/LP12635

Last Listing description (December 2023)

Auction Location: At the property

The choice is yours, love the existing home and give it a new lease of life or knock it over and develop the 816sqm of prime beach side real estate.

The existing character home features three bedrooms, an open plan living area, functional kitchen/meals area. Gas heating, split system, free standing oven with induction cooktop, tons of storage, front and rear covered decks, tandem carport, and double garage. If you keep the existing home, you also have the option to build a second dwelling at the rear and keep it as an investment or sell and maximise the return in this highly sought after location (STCA). This cute home would be ideal for a holiday getaway, first home buyers, investors, and downsizers, on the other hand, if you chose not to love the existing home you can develop this generous block, with a giant 18.3-meter frontage that gives you multiple options of what you can build on the land.

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Property History for 139 Palmerston Ave, Dromana, VIC 3936

A timeline of how this property has performed in the market
Last Sold
$700,000
09 Dec 2023
Listed for Rent
$400/w
25 Jan 2020
  • 12 Apr 2024
    Listed for Rent $470 / week
  • 09 Dec 2023
    Sold for $700,000
  • 20 Oct 2023
    Listed for Sale Not Disclosed
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About Dromana 3936

The size of Dromana is approximately 30.6 square kilometres. It has 19 parks covering nearly 7.2% of total area. The population of Dromana in 2011 was 5,125 people. By 2016 the population was 5,802 showing a population growth of 13.2% in the area during that time. The predominant age group in Dromana is 60-69 years. Households in Dromana are primarily childless couples and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Dromana work in a trades occupation. In 2011, 68.2% of the homes in Dromana were owner-occupied compared with 67.9% in 2016.

Dromana has 5,886 properties. Over the last 5 years, Houses in Dromana have seen a 40.08% increase in median value, while Units have seen a 20.52% increase. As at 31 October 2024:

  • The median value for Houses in Dromana is $975,997 while the median value for Units is $770,258.
  • Houses have a median rent of $600 while Units have a median rent of $565.
There are currently 42 properties listed for sale, and 5 properties listed for rent in Dromana on OnTheHouse. According to CoreLogic's data, 167 properties were sold in the past 12 months in Dromana.

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