On offer for the first time, this treasured family home of over 60 years is brimming with outstanding potential presenting as a tantalising prospect for the growing family, astute investor or property developer. Softly elevated up from the street and facing north so that its interiors are filled with natural light, the home features a classic 3-bedroom layout with spacious lounge and dining rooms, an original bathroom and neat and tidy kitchen. A sitting room off the dining area could easily convert to a fourth bedroom. Perfectly liveable for now, it's ready for some modern inspiration, while its wide 21.34m frontage on the corner of a laneway inspires potential duplex development (STCA). The icing on the cake is the self-contained 1-bedroom granny flat, which allows investors to reap the rewards of a dual income investment or is ideal as extra accommodation for a large or extended family. The handy location an easy stroll to schools, Elder Street's cafes and shops and central to both the John Hunter Hospital and University of Newcastle adds further appeal.  Single level home and separate granny flat on north facing 596sqm parcel  Approximate land dimensions of 21.34m X 28.04m  Lounge room with timber floors and large picture windows  Spacious kitchen with gas cooktop and dishwasher  Granny flat with a/c, bathroom, bedroom and living area with kitchenette  Single garage with auto door under the home; lots of valuable storage  Reap the rewards of a dual income investment by renting out both the home & flat  You may choose to live in one residence whilst renting out the other  Knock down and build a duplex, subject to council approval