Situated in a fabulous location, approximately 500m to the sparkling beaches of Port Phillip Bay and the St Leonards boat ramp, this spacious property offers a combination of space and location. Located a short walk to everything St Leonards has to offer, this massive allotment of 2,042m2(approx.) is the perfect opportunity for investors to take full advantage of. With proven development success in the area, overlooking such a rare opportunity in St Leonards would be a huge mistake for any serious investors looking for their next purchase! Large allotments such as this have proven lucrative for multi-unit developments in recent times. The house that currently resides on the property features three spacious bedrooms and two large living areas. The open-plan kitchen/dining area offers plenty of space to entertain and is flooded with natural light through north and east facing windows. The separate living area provides the ideal location to relax after a day spent out in the sunshine or at the beach. The home features three spacious bedrooms all of which are serviced by the centrally-located bathroom. A bungalow in the rear yard provides accommodation for friends and family with two bedrooms and a kitchen/dining area fitted with all you need to make yourself at home. Character features such as timber ceilings and wainscotting create a warm and comfortable space for your guests. A large four car, lock-up garage provides ample under-cover storage for any vehicles, tools, or equipment you may have and the huge rear yard provides plenty of space for pets and family. Do not miss this rare opportunity to secure a half acre (approx.) of residential land that is primed for development.