14 Nelson Street, Balaclava, VIC 3183 | Land for sale | OnTheHouse
 
FOR SALE
FOR SALE $1,800,000 - $1,900,000

14 Nelson Street
Balaclava VIC 3183

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Prime Inner-City Development Site in Balaclava

An exceptional opportunity to secure a 381 sqm* vacant development site at 14 Nelson Street, Balaclava - offered as clear land and ready for immediate planning and design.
Positioned within a tightly held pocket of Balaclava, this Residential Growth Zone (RGZ) allotment presents outstanding scope for higher-density residential development (STCA). The RGZ encourages increased housing diversity and scale, making this an ideal canvas for a contemporary townhouse or boutique multi-level project.
With no existing dwellings on site, developers benefit from a clean, clear block with no demolition costs or holding complexities, allowing for a streamlined transition from acquisition to construction.
Ideally located just moments from the vibrant Carlisle Street precinct, cafés, restaurants and public transport including Balaclava Train Station, and within easy reach of the CBD and bayside amenity, the address ensures strong end-user appeal and long-term capital growth prospects.
Importantly, the property also comes with planning permit approval for six (6) well- designed three-bedroom townhouses, providing an immediate pathway forward for those seeking to capitalise on an already endorsed scheme.
Vacant RGZ land in such an established inner-city location is increasingly rare. This is a premium, ready-to-deliver opportunity ideally suited to developers and astute investors.
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Property Details for 14 Nelson St, Balaclava

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About Balaclava 3183

The size of Balaclava is approximately 0.8 square kilometres. There are 3 parks, covering nearly 1.8% of the total area. The population of Balaclava in 2016 was 5396 people. By 2021 the population was 5392 showing a population decline of 0.1% in the area during that time. The predominant age group in Balaclava is 30-39 years. Households in Balaclava are primarily childless couples and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Balaclava work in a professional occupation.In 2021, 49.00% of the homes in Balaclava were owner-occupied compared with 43.40% in 2016.

Balaclava has 3,662 properties. Over the last 5 years, Houses in Balaclava have seen a 2.69% increase in median value, while Units have seen a -1.15% decrease. As at 30 April 2026:

  • The median value for Houses in Balaclava is $1,498,344 while the median value for Units is $610,464.
  • Houses have a median rent of $975 while Units have a median rent of $550.
There are currently 8 properties listed for sale, and 4 properties listed for rent in Balaclava on OnTheHouse. According to Cotality's data, 190 properties were sold in the past 12 months in Balaclava.

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Jacob Biviano
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Ray White Mount Waverley
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