Nestled in the picturesque San Remo community, this prime elevated site presents a world of possibilities. Situated on a generous 792sqm allotment, this property boasts an original 2-bedroom cottage with incredible potential for subdivision, making it a golden opportunity for investors and coastal enthusiasts alike. Enjoy the gentle water glimpses from the current dwelling, and envision the potential for an even more panoramic water view from a second-level construction. Perfectly suited for development, this property could become the canvas for your dream coastal home. Let your imagination run wild! This prime location not only offers a quiet coastal escape but also easy access to the vibrant San Remo township. Enjoy the convenience of walking distance to local amenities and excellent commuting options to and from Melbourne. The existing 2-bedroom cottage remains true to its origin. Inside, you'll discover original floorboards that provide a touch of character to the space. The cottage features a simple floorplan, with a kitchen, a cozy living area, two comfortable bedrooms, a bathroom, and an external laundry/toilet. There is split-system heating and cooling, along with a cozy wood fire, offer comfort throughout the seasons. The fully fenced rear yard provides a secure and private space for relaxation, outdoor activities or future expansion, and has an existing garden shed - ideal for storing garden tools and the lawn mower. Seize this rare opportunity to secure a fantastic allotment in a well-established San Remo position. Whether you're looking for an investment opportunity, a weekend retreat, or the perfect spot to build your coastal haven, this property has it all. Don't miss out - make your coastal dreams a reality today. This property for sale in San Remo is proudly presented by Ray White Real Estate Phillip Island.