10 Moreton Street, Balwyn North, Vic 3104

Option 1. Build two large homes and sell them both for a healthy profit; sell one and keep the other, live in one and rent out the other or keep both as investment properties. Plans approved for 2 large family homes, one with 4 bedrooms plus study plus huge rumpus with wet bar. There's also approval for a second large 4 bedroom home and both homes will come with double garages and plenty off street parking.
Option 2. You can buy and do nothing in the short term - simply enjoy the $36,000 annual rental return (leased until 1 March 2013).
There is an existing architect designed, fully renovated 3 bedroom home featuring ensuite to main bedroom, open plan living with huge picture windows overlooking delightful, established gardens with inground pool, double garage, and additional off street parking for another 4 cars. All set in an ideal family environment close to transport, shops, schools and acres of parkland.