24 Lacebark Street, Doveton, VIC 3177

Nestled in a quiet and family-friendly street, this affordable property offers a fantastic opportunity within close proximity to Linden Place shopping strip, Minaret College, and Ilim College. Set on a level and rectangular 579m? (approx.) allotment, the site presents incredible redevelopment potential, subject to council approval, with multiple possibilities for future growth and value creation.

Redevelopment Potential:

Option 1: Retain the existing dwelling and develop a second dwelling on the site, as demonstrated by the dual occupancy at No. 26.

Option 2: Leverage the proposed architectural plans for constructing three brand-new dwellings on the complete site.

Option 3: Build a premium new home, similar to the development underway at the rear of No. 23 Waratah Street.

The existing home features a spacious lounge with polished floorboards, an adjoining kitchen equipped with a wall oven, gas hotplates, and modern tiling. Three generous bedrooms, a family bathroom, and a separate toilet are all accessible via a central hallway. The rear yard includes a garden shed and a large garage/workshop, offering practical storage and workspace options.

Currently tenanted at $330 per week on a periodic tenancy, the property provides an excellent buy-and-hold investment opportunity, with scope for future rent increases. With ducted heating and a wall air conditioner ensuring year-round comfort, and the ongoing transformation of the area, this property is set to benefit from significant future price appreciation. Don't miss this chance to secure an affordable, versatile investment or development opportunity in a thriving location-inspect today!