Ideally situated in an exclusive waterfront reserve position, this attractive brick residence is bursting with promise and opportunity and offers a great chance to add some excellent value to such a well-located property. The home is presented in solid and comfortable order and holds outstanding potential for buyers looking to make their mark in the highly popular Sylvania market with scope to renovate, redesign or knockdown and rebuild down the track (STCA). The property is set up high and enjoys cooling breezes, great natural light and elevated water outlooks over the trees to Oyster Bay. Its versatile floorplan has been well-maintained and comes with two self-contained levels, both with a kitchen, bedrooms, bathroom and living areas. There are three bedrooms upstairs plus a large theatre room/4th bedroom and family area on the lower level. A double lock-up garage is located in the basement and has extra space for storage and direct internal access. The home sits on a generous 556sqm block of land with plenty of room for kids and pets, with a level front garden and paved patio at the rear. There is also a large wraparound balcony that's great for relaxing or soaking up the leafy water views. It will bring fantastic rewards for those wishing to capitalise on such a prime location within strolling distance to foreshore walks and parklands around the bay. From here it's just minutes to Sylvania Southgate shops, transport, local schools and all everyday amenities.   Highlights: - Waterfront reserve position directly opposite foreshore parks - An elevated aspect with leafy water views over Oyster Bay - A versatile two-storey layout featuring two self-contained levels - Generous and bright living spaces plus a wraparound balcony - Downstairs living area, kitchen, bathroom and fourth bedroom - Basement level double garage and storeroom with internal access - Exceptional rebuild potential in a premium waterfront setting (STCA)