Keep as-is or subdivide? Outer east/VIC

I've got a 3br 1970s IP on a 980sq block that's fetching 330/wk and it's structurally in excellent condition that I owe nothing on (it's fully offset).

House is situated about 1/3rd the way down the block.

I know nothing about subdividing however I've seen a lot of properties on similar streets nearby completely knocked down and 3 or 4 units put up in their place.

How do I even begin to figure out if the idea has merit, council conditions, costs, timeframes, etc?

 

@proper_noobie

What's a zoning?

if you speak to one of local town planner they can advise you in regards to merits, costs, time frames,etc.

is there any easement running in front of property?

 

No easement front or back,

Rang the council today and they were very helpful. Advised the address has no additional restrictions on building. A few houses away a block has been subdivided into 3 properties, perhaps the same can be done with this one. Advised to google a few local town planners and speak with them. Awaiting a call back from a couple now.

A few questions. very roughly (eg nearest 20-30k),
- How much does it cost to actually build a typical 3 bedroom 2 story house?
- How much does it cost for drafting/design/permits/water/electricity/gas and all the other ancillary costs?

My long term plan is to keep the property but I need to do more accurate sums and talk with some experts...

 

That's a good news.

Cost really depends on scope of works required and who do you end up using!

I suggust you also speak to local draftsperson or architect. They can give you rough estimate and few options of number of dwelling you can do on site.

Feel free to PM me address, we may be able to put you in touch with right people.