Located within a short walk to the Epsom Shopping Centre, Epsom Train Station & the Bendigo Golf Course, is this unique investment opportunity. The property, once an attractive Victorian, was involved in a fire resulting in three quarters of the home being damaged. The owners then converted the undamaged portion of the house into a self-contained, one bedroom flat that returns $200pw & they added a second two bedroom flat to the site which also returns $200pw, so the property currently provides $400pw or $20,800pa in income. The 2530m2 (approx) allotment already has plans for a four lot subdivision. A demolition permit has been approved, so it is ready & waiting for a developer to take control. With plenty of side access, the ability to construct the subdivision without inconveniencing the tenants is viable, meaning you don't have to go without an income while developing the land.