Here is an opportunity to buy into the sought after suburb of Old Erowal Bay at a very affordable price. Located in a lovely neighbourhood and close by to the waters of St Georges Basin, this is a fantastic opportunity for the astute buyer. With this property being priced at land value, you could consider leasing this home out to help with holding costs whilst you design your dream home. The house offers you two bedrooms, a central living area with both a combustion fireplace and reverse cycle air conditioning; a well proportioned bathroom and an open plan kitchen with a gas cooktop. There is a detached double garage which has sewer and water connected. A concrete driveway allows access to the rear of the property. Purchasing this property will give you some great options. Whether you decide that you will keep the home to renovate, whether you do a knock down /rebuild for a larger residence, take advantage of the large accessible 696 sq/mtr block to consider a dual occupancy, if you are looking for a bit more of an investment (STCA). This would give you a dual income, or live in one and rent the other for a passive income. Whilst the home may need some work the location is certainly desirable and those with a keen eye for a bargain should put this on their must inspect list. For more information or to arrange an inspection please give Rachel a call on 0417 493703.