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5/86-90 The Terrace, Ocean Grove$774,000
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5/86-90 The Terrace

Ocean Grove, VIC 3226, Australia
$749,000 – $799,000
2 bed 2 bath 1 car71 m²

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About this property

Imagine finishing a beach swim and being home before the salt dries on your skin. From this centrally placed two-bedroom apartment, Ocean Grove life is experienced in real time, unfiltered, walkable and wonderfully spontaneous. Coffee, cocktails, dinner, a late wander home, it all happens naturally when the town centre and the beach sit so effortlessly within reach. Spread across two well considered levels, the apartment offers separation, flexibility and everyday ease. Upstairs, the north facing living zone is bright and comfortable, opening to a sunny balcony that becomes a natural pause point between day and night. It's a space made for slow mornings, post beach resets and relaxed evenings, supported by a practical galley kitchen that works easily now while leaving room for future refinement. Recently refreshed with newly installed carpets and fresh paint throughout, the interiors feel crisp, clean and immediately inviting. The sleeping zones are deliberately private. The upper-level bedroom sits quietly away from the living areas with its own ensuite and robe, ideal for owners or longer stays. Downstairs, the second bedroom opens directly to a secluded rear courtyard creating a calm retreat that feels removed from the energy outside. With its own private bathroom, this level lends itself beautifully to guests, shared living or holiday use. Both bedrooms benefit from the recently updated carpets and freshly painted walls, enhancing comfort and presentation. Storage is generous, the single lock up garage adds convenience and the low maintenance format suits both permanent and part time living. Step outside and the lifestyle takes over. Beaches, cafés, bars and restaurants all within an easy stroll, where days blur into evenings and the village hum becomes part of the backdrop. Rarely does a property offer this level of proximity with such a sense of retreat, making it an outstanding option for downsizers, investors or those seeking a true lock up and leave coastal base with Airbnb potential (STCA). Potential Rental Return: $500-$520 per week

Property Details

Property Type
house
Listing Type
For Sale
Bedrooms
2
Bathrooms
2
Parking
1
Land Area
71 m²
Listed
3 months ago

Repayment calculator

$3,752/month
$1,876 /fortnight
Loan $619,200 at 6.10% over 30 years

Upfront costs

Deposit$154,800
Stamp duty$41,510
Conveyancing (est.)$2,000
Total upfront$198,310
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Indicative figures only — not a quote. Real loan offers depend on the lender; duty depends on contract terms and applicable concessions.

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Neighbourhood

Living in Ocean Grove

This 2-bedroom house in Ocean Grove, VIC 3226 sits within reach of public transport, local shops and nearby schools. It is listed 47% below the $1.45m median of 74 comparable houseswithin 5 km.

Schools near Ocean Grove

  • Ocean Grove Primary Schoolprimary · Prep-6 · CoEd
  • Our Lady Star of the Sea Schoolprimary · Prep-6 · CoEd
  • Surfside Primary Schoolprimary · Prep-6 · CoEd
  • Bellarine Secondary College-Ocean Grove Campussecondary

What's nearby

  • Ocean Grove Shops/The Terrace (bus)39 m away
  • Discount2.4 km away
  • Arthur Powell Reserve861 m away
  • Unnamed863 m away
  • Begola Wetlands940 m away

Ocean Grove at a glance

Full suburb profile
Population
17,714
Median age
43
Household income
$1,837/wk
Median rent
$420/wk
Median mortgage
$2,000/mo

Source: ABS Census.

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Suburb market

Suburb price trend

Ocean Grove price trend

Median sold · House 2 bed

Compound growth -2.5% / yr over 4 yrs

$761kcurrent median

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Price history

Price history

Listing price changes

2 price changes recorded for this property

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