29 Cavanagh Street, Cheltenham, Vic 3192

Climb to new heights of potential in a highly-sought spot! Close to the wide open spaces of the Retreat House precinct, the schools and child-care of Friendship Square, and the shopping of Southland, this approx 834sqm property comes with a highset two-storey home, a double garage... and a multitude of possibilities.

Look to the quality of the surrounding new homes and townhouses, pace out this 18.24m frontage, and start planning your luxury home or dual occupancy development here (subject to Council Approval).

But don't overlook the value in the existing four bedroom, two bathroom family home. With two large living areas plus a flexible separate-entry home-office, this substantial home offers a solid base for future renovation with a huge dine-in kitchen, quality bathrooms, large robe-fitted bedrooms and almost-new ducted heating and cooling.

At the very least, this solid home will continue to be a rewarding proposition until development commences... with the prospect of retaining an excellent ongoing tenant until it's time to break ground.