115 Richardson Street, Albert Park

Corner-Sited Edwardian with Position, Possibility, and Presence

A Strong First Impression

From the outset, this home stands tall with presence. Set on a corner block, it boasts over nine metres of street frontage and rare side access to a garage — with potential for two cars. Add in a generous backyard, and you're already ahead of most offerings in this tightly held pocket of Albert Park.

Classic Bones, Liveable Now, Room to Grow

The front portion of the home — three substantial rooms — has been thoughtfully renovated and retains its period charm. Toward the rear, the layout becomes more modest. The kitchen, bathroom, and an additional bedroom have served the current owners well for over a decade, offering immediate liveability. However, for buyers at the $3M+ level, this rear zone is more likely seen as temporary — a canvas ready for reinvention.

Renovation Options Abound

What makes this home exciting is the scope. There's room to add value — potentially through a second storey (noting setback requirements), a contemporary rear extension, or a reworking of the garage setup. Whether you're creating a long-term family haven or a smart downsizer’s retreat, the fundamentals are already in place.

A Location That Performs

Technically Albert Park, but functionally Middle Park — that’s the beauty of this address. Cross the road one way and you’re at MSAC; head the other and you hit the beach. You’re also within walking distance of both Armstrong Street and Albert Park villages, with excellent access to public transport and respected primary and secondary schools nearby.

Market Position and Long-Term Upside

A price guide in the high twos feels realistic. That said, buyer interest could push the result higher, particularly in a market that’s starting to show signs of momentum again. Importantly, it’s hard to imagine overcapitalising here. Comparable homes on similar land sizes — post-renovation — have achieved premiums of $1.5M–$2M more. With the right renovation, this property becomes both a lifestyle success and a smart investment.

Who’s It For?

• Young couples will appreciate the corner presence, livability, and future growth.
• Older buyers get a single-level option now, with renovation flexibility.
• Investors and renovators can rely on strong fundamentals and market alignment.

Final Word

This is not just a good house — it’s a smart move. Price, position, and potential are aligned. With clarity and care, this could be a long-term win on all fronts.