Introducing a compelling prospect for discerning investors, this fully tenanted five-unit complex presents an enticing opportunity. Comprising four x one-bedroom residences on the ground level and a spacious two-bedroom dwelling on the upper floor, the property stands as a lucrative income-generating asset, boasting an annual gross return of $72,500. Nestled in an exclusive lakeside cul-de-sac, surrounded by high quality homes, 7 Bellevue Road epitomises prime real estate. Consider embracing the status quo or seize the chance to enhance value through strategic renovations that have the potential to elevate rental income. Alternatively, explore avenues such as individual strata title subdivision or a transformative knockdown-rebuild or development project, taking advantage of the block's scenic lagoon and lake views. All possibilities hinge on securing council approval, unlocking the true potential of the 512.2sqm landholding. Beyond the boundaries of this property, a plethora of activities await, including sailing, fishing, cycling, golfing, and beach outings. Tinta and the Gunyah Hotel are close by for great dining options, while Belmont town centre lies just 1300m away, ensuring convenient access to daily essentials.  Dual level five unit complex on 512.2sqm block zoned R2 Low Density  4 x ground level one bedders, two bedroom dwelling upstairs with lake and lagoon views  Five car spaces  Current gross annual return of $72,500 with scope to increase through renovation  1300m to Belmont Citi shops and eateries  5 minute drive to Blacksmiths Beach and Belmont Golf Club  20km/27mins to Newcastle, 115km/85mins to outskirts of Sydney  Detailed Information Memorandum available upon request