Situated in a prime location, just a short stroll from Portland's Central Business District, ocean cliff-tops, and beautiful beaches, 181 Percy Street offers endless possibilities. This charming 3-bedroom, 1-bathroom mount gambier stone home boasts a modern kitchen with a breakfast bar, while the updated bathroom and large combined dining and living area feature polished floorboards, reverse cycle air conditioning, and a cozy combustion fire.?Two of the bedrooms are generously sized, making it perfect for families or tenants alike. Set on a spacious 884m? allotment, the property includes a single lock-up garage, rear lane access, and sits within a Mixed-Use Zone (MUZ1). Currently leased and with a solid rental history, it also comes with a planning permit for four townhouse developments and subdivisions. Whether you're looking for a smart investment, a future development project, or a fantastic place to call home, this property is brimming with potential. Contact Assets Real Estate today to arrange your inspection!