An original Bayswater cottage set back 10 metres from the front boundary leaving oodles of room for an extension, verandah and/or double carport along with full drive access to the rear of the property from the laneway behind the home. The current floorplan is set up as two bedrooms and an open plan kitchen, dining and lounge area. At the rear of the block is a (10 x 4 metre) studio and single lock up garage. The property is suitable for all segments of the market i.e. first home buyers, knock down rebuild clients looking to achieve lake views from a new two storey build and the investor market. Investors should note that the current owner is happy to stay on in a long term tenancy at a rental figure starting at $350 per week, vacant possession forms part of the contract for the first home buyer market. This very liveable cottage is priced at $200,000 below the average selling price in the area (refer RP Data statistics). Close to the waterfront makes this little cottage a very desirable investment with great potential as the asking price is all but land value. Please note the property has been reduced in price to reflect the land value of $499,000, this is a fixed price with vendor instructions for no negotiation. Please see this as a land purchase with a free house which reflects the age and size of the premises.