How this Sunshine North duplex could earn $1m

Dual-home Sunshine North property with subdivision nearly complete passes in at auction, but agents say buyers could unlock a $1.06m windfall with minimal final works.

A Sunshine North duplex passed in at auction on Saturday despite strong interest, but agents say the right buyer could unlock a six-figure windfall with just $15,000 worth of work.

The property at 44 Ford Ave offers two self-contained homes on a single title, with 95 per cent of subdivision work already signed off. Only water meter separation remains, paving the way for two individually sellable properties with an estimated combined value of $1.06m.

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With $800,000-$880,000 price hopes, the dual-dwelling set up attracted 18 inspection groups, 12 inquiries and six contract requests — but failed to meet reserve under the hammer.

The Agency Victoria’s Jim Christou said buyers were circling the opportunity to rent both units or live in one while selling the other.

“You’ve got two complete homes here, both with their own kitchen, bathroom, and living zones,” Mr Christou said.

Dual access from the front and side of the property enables separate use and flexibility for future owners or investors.

The second dwelling’s bathroom includes a shower, tub and retro tiling, with the structure in clean, original condition.

“The front is already leased for $450 a week, and the rear was kept vacant for the sale, but it could easily match that.

“That’s $900 a week, with the chance to split the titles and bank the equity later.”

Unit 1 features polished timber floors, a full-sized kitchen, and a lounge with split zones for dining and living.

The front home features polished floors, separate lounge and dining zones, and split-system cooling.

Unit 1’s kitchen includes gas cooking and generous cabinetry, with the home currently returning $450 per week on a flexible tenancy.

The rear home offers an equally spacious tiled layout, light-filled bedrooms, retro bathroom, and private backyard, ideal for multigenerational living, investors or resale.

“There’s real potential for equity growth here — whether you hold both, sell one, or flip them once subdivided,” Mr Christou said.

“And the owner’s already done all the hard work. You’re stepping in with the finish line in sight.”

The vacant rear unit showcases open-plan tiled living, a full kitchen and natural light, ready for immediate rental or resale.

A secure backyard with established fruit trees and lawn space offers added appeal for tenants or future redevelopment.

Mr Chirstou said Sunshine North’s low turnover made comparable sales difficult to find, but also reflected the area’s stability and appeal.

“It’s a tightly held suburb. Once people move in, they don’t leave — even renters,” he said.

“We actually had more traction on this last winter, which is unusual, but I can feel buyer confidence returning.”

The property remains available for private sale.

A functional kitchen with ample storage and gas cooking is at the heart of Unit 2’s family-sized layout.

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