163 Wanda Street

Mulgrave VIC 3170

Positioned on a highly lucrative 851sqm (approx.) corner allotment, this exceptional site presents a rare and versatile opportunity within a high-demand growth corridor. Previously approved for three townhouses, the property now offers exciting scope to explore higher-density redevelopment potential of up to four townhouses (STCA), in line with recent planning changes. Alternatively, the prominent corner position and surrounding commercial activity provide strong precedent for potential commercial conversion (STCA), including medical, retail or hospitality uses all within a thriving residential catchment between Mulgrave and Springvale.The existing residence remains in comfortable condition, offering flexibility to retain and lease while progressing plans and permits. The home comprises four well-proportioned bedrooms, serviced by a central family bathroom, separate WC and full laundry. Multiple living zones include a spacious lounge, separate dining room and an additional family living area, all centred around a well-appointed kitchen featuring timber cabinetry, ample storage, gas cooking, wall oven and a convenient servery window.Additional features extensive parking, storage options and a workshop, enhancing its practicality as a holding asset.Ideally located within walking distance to St John Vianneys Primary School, Wellington Secondary College and Albany Rise Primary School, as well as Southern Reserve and local shopping options, the property also enjoys excellent connectivity to Princes Highway, the Monash Freeway, EastLink and Waverley Gardens Shopping Centre. This is a premium opportunity offering scale, flexibility and outstanding future upside.