Positioned in a highly sought after street, in close proximity to the lakes edge with water views from the sight, this R3 medium density residentially zoned parcel, offers the discerning investor the opportunity to develop within the zoning with an encouraging 20 metre frontage and an overall area of 1429 m2 spread across two titles. Currently on site are two dwellings, the front dwelling is a four-bed, one-bathroom home with an open plan living area and a carport. The back dwelling is a cute three-bedroom cottage with a practical floor plan. It has a lazy veranda that catches the morning sun and offers views of the lake. These homes will allow for many more years of rental return with potential of approx. $830 to $880 per week combined. This level of return will buy you time as you consider further developing the site or even allowing you to land bank the project until a moment in time when local values reach even greater heights. Offering a little something to all different style of investors and developers, we invite you attend our weekly open homes. The convenience of being within walking distance to local shops with cafes, Coles etc, schools (public and private), the shores of Lake Macquarie, and a short drive to Morisset CBD and the M1 Motorway make it very appealing to all buyers seeking a central location between Sydney and Newcastle. Call the team at Wilson Britten to arrange your inspection or further information on 4970 5545. *Disclaimer: Every precaution has been taken to establish accuracy of the above information but does not constitute any representation by the owner or agent. While all care is taken to ensure otherwise, WilsonBritten Morisset does not make any representation as to the accuracy of any of the information contained in the advertisement, does not accept any responsibility or liability, and recommends that any client make their own investigations and enquiries. All images are indicative if the property only and Inspections are recommended.