3 Joy Street, Frankston VIC 3199

Property Details: • Type: House

• Bedrooms: 3 • Bathrooms: 1

Description: Terms: 5/10% deposit Settlement: 30/60/90 days Lease: 31/8/26 @ $500 P/W Land size: 589m2 Zoning: HCTZ1 A Blueprint for Growth in the Heart of Frankston's Metropolitan Transformation. In the world of strategic property acquisition, rare are the opportunities that offer immediate cash flow, elite school zoning, and high-density development potential on a single title. Situated on a prime 589m² allotment in the coveted Joy Street, this three-bedroom residence is not just a home-it is a high-yield land bank positioned at the epicenter of Frankston's future. The HCTZ1 Advantage: Building the Future Situated within the Housing Choice and Transport Zone (Schedule 1), this site is a developer's dream. Unlike standard residential zones, HCTZ1 is designed to drive the Victorian Government's "walkable catchment" initiative. For the savvy developer, this means a significantly higher density potential, with the planning framework supporting building heights of up to 4 storeys (13.5 metres) (STCA). As Frankston moves to accommodate 33,000 new residents by 2051, Joy Street stands as a frontline beneficiary of this aggressive urban densification. The FHSZ Factor: The Ultimate Value Floor Location is the only thing you can't change about a property, and Joy Street offers the best in the business. Falling within the prestigious Frankston High School Zone, the property benefits from a "value floor" that few other suburbs can match. In 2026, FHSZ-zoned properties continue to command a premium, ensuring that whether you develop now or hold for the future, your exit strategy is underpinned by one of Melbourne's strongest educational magnets. The Investor's Safety Net While you finalize your plans or await the next market surge, the property works for you. Currently tenanted until 31st August 2026 at $500 per week, you have a guaranteed income stream from day one. The existing three-bedroom home, while original and ready for a creative touch, provides a functional base that appeals to a robust rental market where vacancies are at historic lows. Why Joy Street? Why Now? Frankston is no longer a "suburb to watch"-it is a city in transition. With the recent approval of the Frankston Metropolitan Activity Centre (FMAC) Structure Plan, Joy Street is perfectly positioned to capture the capital growth as the CBD expands and modernizes. Disclaimer: In preparing this information, Barry Plant Frankston has relied in good faith upon information provided by others and has made all reasonable efforts to ensure that the information is correct. The accuracy of the information provided to you (whether written or verbal) cannot be guaranteed. If you are considering this property, you must make all enquiries necessary to satisfy yourself that all information is accurate. Please note that inspection times are subject to change without notice, we suggest you check the online marketing/listing on the day.