Sprawling across a generous 1,942 m�, this development site boasts two street frontages, providing unparalleled accessibility and potential. Zoned R3 Medium Density Residential with a 12 metre height limit, offering endless possibilities for development. Unlock the potential to redevelop and elevate this address to new heights (STCA). Currently housing two fully-leased complexes, presenting a secure income stream for investors. Discover the allure of coastal living with our latest offering in the heart of Forster. This exclusive development presents an exceptional chance to secure your slice of paradise. This site beckons developers and visionaries. The current properties on the site: The first complex on the Head Street site features four self-contained, 2 bedroom flats, boasting comfortable living spaces private bathrooms and off street parking for each unit; all are currently tenanted. The second complex on the Maneela Street site features three separate units with 2 x 1 bed, 1 x bath units upstairs and 1 x 2 bed, 1 x bath unit downstairs. All units have access to the shared laundry and undercover carport; all are currently tenanted. Experience the epitome of convenience with a leisurely stroll to Forster Main Beach, Pebbly Beach, trendy cafes, gourmet restaurants and boutique shops. Entertainment options abound with pubs and clubs just minutes away. Current combined rental return at $99,840 per annum provides a steady income or explore further development potential. Seize this rare opportunity to secure your foothold in one of Forster's most coveted locations. Contact David Hochkins now at 0437 546 302 to arrange your private viewing and embark on your coastal investment journey today! Disclaimer: All information provided is deemed reliable but not guaranteed. Buyers are advised to conduct their own due diligence.