Situated in one of Reservoir's most desirable pockets, this exceptional 712sqm approx. parcel of land awaits your vision. With plans and permits in place for five modern and stylish townhouses, this property is a dream come true for first home buyers, astute investors, and downsizers alike. The prime location of this property offers an array of local amenities, ensuring a convenient and fulfilling lifestyle for residents. Enjoy easy access to Reservoir Railway Station, making commuting a breeze. Families will appreciate the proximity to Reservoir Views Primary School and Reservoir High School, providing excellent educational options. For the little ones, Goodstart Early Learning Reservoir is just around the corner. Indulge in the vibrant atmosphere of the local neighborhood, with a variety of shops and cafes waiting to be explored on Broadway. For seamless travel, Plenty Road Trams and local bus stops, including one on Broadway, provide excellent connectivity. Stay active and fit at the nearby Reservoir Leisure Centre, or take advantage of the educational opportunities provided by the renowned La Trobe University. Currently tenanted at $340 per week, this property offers an immediate return on investment. Whether you choose to retain the existing rental income or embark on the exciting journey of developing the townhouses, the potential for lucrative returns is undeniable. This is a rare and enticing opportunity that you simply cannot afford to miss out on. With plans and permits already in place, all the hard work has been done for you. The stage is set for you to create a masterpiece and make a mark in the flourishing Reservoir property market. Seize the moment and secure your future with this unmissable opportunity. Contact us today to arrange a private viewing and explore the boundless potential that awaits you. Don't delay, as opportunities like this are few and far between!