Original homes in this tranquil coastal setting are rare on the market and this freestanding home presents a unique opportunity for transformation or complete development. The first time offered for sale in over half a century, the deceased estate's 571sqm landholding, sunny level garden and prized setting opposite a child-friendly reserve present a wealth of opportunity just 300m to Yarra Bay Beach. Phillip Bay is one of Sydney's undiscovered coastal jewels, surrounded by acres of national parkland and scenic coast walks with close proximity to the Yarra Bay Sailing Club and a choice of golf clubs making it ideal for families and lovers of the great outdoors. A short stroll to local cafes, La Perouse Public School and city transport, the three-bedroom home is in original condition presenting a prime canvas for recreation. With a 12.2m frontage and potential for a second level addition (STCA), features include three double bedrooms; central living room; separate dining room; tidy kitchen and bathroom; a large north-west facing garden with outdoor W.C. and storerooms; and a lock-up garage and a wide driveway offering plentiful off-street parking. Council Rates: $378.17 PQ (Approx), Water Rates: $210.38 PQ (approx)