23 Spray Street, Frankston, VIC 3199 | House for sale | OnTheHouse
 
FOR SALE
$750,000

23 Spray Street
Frankston VIC 3199

Bedrooms: 3
Bathrooms: 1
Car spaces: 1
Land area: 580m2
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Prime Development Opportunity – Plans & Permits Approved

Positioned in a highly sought-after pocket of Frankston, 23 Spray Street presents an exceptional opportunity for developers, investors, and land bankers alike.
Occupying a generous allotment, the property features an existing residence that offers immediate rental income potential or comfortable accommodation while future plans are put into action. Whether you're looking to hold, renovate, or develop, the options are plentiful.
Adding significant value, the property comes with approved plans and permits for the construction of three contemporary two-bedroom townhouses, allowing you to fast-track your next project and avoid the lengthy planning process.
Located just moments from Frankston CBD, stunning beaches, public transport, schools, parks, and major shopping precincts, this is a rare opportunity to secure a development-ready site in a thriving growth corridor.
Property Highlights:
• Existing home with rental or holding income potential
• Approved plans and permits for 3 x 2-bedroom units
• Development-ready opportunity in a high-demand location
• Close to Frankston CBD, beaches, transport and schools
• Ideal for developers, investors and builders
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Property Details for 23 Spray St, Frankston

23 Spray St, Frankston is a 3 bedroom, 1 bathroom House with 1 parking spaces. The property has a land size of 580m2. The place is currently for sale with Property One Sales and Management - Chelsea.

Building Type
House
Land Size
580m2
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About Frankston 3199

The size of Frankston is approximately 19.8 square kilometres. There are 72 parks, covering nearly 21.2% of the total area. The population of Frankston in 2016 was 36097 people. By 2021 the population was 37331 showing a population growth of 3.4% in the area during that time. The predominant age group in Frankston is 30-39 years. Households in Frankston are primarily childless couples and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Frankston work in a professional occupation.In 2021, 58.30% of the homes in Frankston were owner-occupied compared with 56.80% in 2016.

Frankston has 21,673 properties. Over the last 5 years, Houses in Frankston have seen a 24.64% increase in median value, while Units have seen a 29.97% increase. As at 30 April 2026:

  • The median value for Houses in Frankston is $867,535 while the median value for Units is $593,226.
  • Houses have a median rent of $590 while Units have a median rent of $490.
There are currently 139 properties listed for sale, and 71 properties listed for rent in Frankston on OnTheHouse. According to Cotality's data, 1152 properties were sold in the past 12 months in Frankston.

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James Bell
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Seb Mooney
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Property One Sales and Management - Chelsea
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