57/59 Centre Dandenong RoadCheltenham VIC 3192
Property Details for 57/59 Centre Dandenong Rd, Cheltenham
57/59 Centre Dandenong Rd, Cheltenham is a 3 bedroom, 2 bathroom House. The property has a land size of 1730m2.
Last Listing description (December 2025)
57 & 59 Centre Dandenong Road, Cheltenham
Total Land Size: 1,730sqm (approx.)
A truly rare offering in a prised bayside pocket, this dual-title property presents an incredible opportunity for developers, investors, or land-bankers seeking scale, position, and strong income potential with scope for future development (Subject to Council Approval).
Sitting across a commanding 1,730sqm (approx.), this double block comprises:
57 Centre Dandenong Road Already subdivided and income-generating:
Four quality brick units:
(NO BODY CORP)
Three x 2 bed, 1 bath
One x 3 bed, 1 bath
All units include individual carport parking
Solid returns with excellent tenancy appeal
Established driveways and minimal common area maintenance
59 Centre Dandenong Road A comfortable single-level family home:
3 spacious bedrooms | 2 bathrooms
Dual living areas, perfect for families
Single lock-up garage and a large backyard
Ideal to rent out, occupy, or incorporate into a future development plan
The Potential (STCA):
Knock down and rebuild multiple townhomes or a boutique development
Take advantage of the wide street frontage and strong land depth
Zoned for Cheltenham Secondary & close to childcare, parklands & major arterials
Moments from DFO Moorabbin, Southland Shopping Centre & public transport
This is a unique chance to secure a strategic landholding with immediate rental income and enormous upside. Whether you're looking to develop now or plan for the future, opportunities like this are few and far between in Cheltenham's tightly held market.
THE AGENT
Chris Azar | 0412 656 205
Luke Fornieri | 0423 633 740
Disclaimer: Whilst every care has been taken to verify the accuracy of the details in this advertisement, MAK REALTY cannot guarantee its correctness. Prospective buyers need to take such action as is necessary, to satisfy themselves of any pertinent matters. *Gross estimate, purchasers will need to complete their due diligence.
Property History for 57/59 Centre Dandenong Rd, Cheltenham, VIC 3192
- 21 Oct 2025Listed for Sale THE ONE | Contact Agent
Recent sales nearby
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0About Cheltenham 3192
The size of Cheltenham is approximately 10.6 square kilometres. There are 26 parks, covering nearly 19.1% of the total area. The population of Cheltenham in 2016 was 22291 people. By 2021 the population was 23992 showing a population growth of 7.6% in the area during that time. The predominant age group in Cheltenham is 30-39 years. Households in Cheltenham are primarily couples with children and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Cheltenham work in a professional occupation.In 2021, 70.00% of the homes in Cheltenham were owner-occupied compared with 71.00% in 2016.
Cheltenham has 15,204 properties. Over the last 5 years, Houses in Cheltenham have seen a -5.85% decrease in median value, while Units have seen a 3.54% increase. As at 31 July 2026:
- The median value for Houses in Cheltenham is $1,210,049 while the median value for Units is $715,290.
- Houses have a median rent of $750 while Units have a median rent of $600.
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