Port Melbourne beach on a first-home buyer budget

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4 Little Dow St, Port Melbourne is an affordable opportunity for first-home buyers.

A quaint and quirky little unit just a few blocks back from Port Melbourne beach is offering buyers the opportunity to live it up for less.

First-home buyers can ease into an inner-city beachside lifestyle in time for next summer if they beat the competition to the keys of 4 Little Dow St.

The unconventional two-bedroom pad with 50sq m of floor area on 60sq m of land has a price guide of $480,000-$510,000 ahead of its scheduled June 15 auction.

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It’s about 600m to the sand.

Inside the compact pad.

Rent of a similar property could cost about the same weekly.

“If you broke into a jog, three minutes and you’d be plunging into the water,” Frank Gordon Port Melbourne director Frank Callaghan said.

Those who prefer a leisurely stroll will have their toes in the sand in less than 10 minutes.

Mr Callaghan said a standard one-bedroom unit in Port Melbourne would cost “in the mid $400,000s”, while one-bedroom and a study similar to the property for sale would usually set a buyer back “in the mid $500,000s” — and this one had no owners’ corporation costs.

A small outdoor terrace area.

Room to kick back in front of the TV.

“It’s built on the back of another terrace house, so the guy (who lives in the terrace) built it for his son, they don’t need it in the family any longer so he’s letting it go to market.”

Mr Callaghan noted buyers would be free to make changes to the property as they liked, and down the track potentially even do something structurally, such as build another level.

The essentials covered.

One of the two bedrooms.

The 1994-built and 2018-extended pad has an open-plan kitchen, living and dining area, a bathroom, European laundry and outdoor terrace, as well as the two bedrooms.

“A one-bedroom flat in Port Melbourne is about $450 a week in rent, at that price, it might be a little bit on the smallish side, a petite kind of place, but, gee, it’s yours,” Mr Callaghan said.

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