5 Madeley StreetOcean Grove VIC 3226
Property Details for 5 Madeley St, Ocean Grove
5 Madeley St, Ocean Grove is a 2 bedroom, 1 bathroom House with 1 parking spaces. The property has a land size of 834m2 and floor size of 105m2. While the property is not currently for sale or for rent, it was last transferred in October 2002.
Last Listing description (June 2026)
Located in a highly sought-after area of Ocean Grove, this properties position offers the best of coastal living, though the house itself is in bit of a state. Just a short walk from Ocean Grove Primary School, The Terrace shopping strip, and the popular Ocean Grove Main Beach, it offers incredible convenience for both lifestyle and practicality.
Set on a large 833 square meter block, the property features a north-facing backyard, which provides ample sunlight and space for outdoor living. The established, quiet neighbourhood ensures privacy, while still being close to all essential amenities. While the current house needs significant repair, the sizable block offers the perfect opportunity to redevelop.
With its generous size and location, the property has great potential for redevelopment into two townhouses (STCA) or a luxury home. Whether you're looking to create your ideal coastal retreat or capitalize on the demand for modern, low-maintenance homes, this property offers a prime canvas for redevelopment.
The house itself, with two bedrooms, one bathroom, and a single-car garage, is in a state of disrepair and requires substantial work. However, with a keen eye for vision and development, this property could be transformed into two stylish townhouses, making it an excellent investment in the thriving Ocean Grove market.
With properties in such a prime location rarely available, this opportunity won't last long. Whether you choose to renovate, redevelop, or rent out, this property offers endless potential.
Property History for 5 Madeley St, Ocean Grove, VIC 3226
- 12 Feb 2025Listed for Sale $890,000
- 14 Oct 2002Transferred
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0About Ocean Grove 3226
The size of Ocean Grove is approximately 18.5 square kilometres. There are 22 parks, covering nearly 16.5% of the total area. The population of Ocean Grove in 2016 was 14165 people. By 2021 the population was 17714 showing a population growth of 25.0% in the area during that time. The predominant age group in Ocean Grove is 60-69 years. Households in Ocean Grove are primarily childless couples and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Ocean Grove work in a professional occupation.In 2021, 78.50% of the homes in Ocean Grove were owner-occupied compared with 76.10% in 2016.
Ocean Grove has 11,858 properties. Over the last 5 years, Houses in Ocean Grove have seen a 7.74% increase in median value, while Units have seen a 6.30% increase. As at 30 April 2026:
- The median value for Houses in Ocean Grove is $1,070,695 while the median value for Units is $802,867.
- Houses have a median rent of $645 while Units have a median rent of $535.
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