863 Springvale Road, Mulgrave, Vic 3170

What an opportunity! This great three-bedroom home sitting on a 700m2 block (approx.) comes with plans and permits all ready to go for new townhouse development in the rear. Chances like this one don't come around often so you'd better be quick to inspect!

The existing family home features an excellent layout with the living quarters on the left wing, while all the sleeping quarters are on the right. There's a good-sized functional kitchen, full bathroom and paved outdoor entertaining space too. It's the perfect spot to move into while you focus on the development out the back - a planned and permitted 3 bedroom, 2 bathroom townhouse with double garage. Once this is done, move into your new digs and rent out the existing home for $430-450 per week (approx.) Or for those savvy developers out there, consider renting both out to receive some serious side income.

The property could not be better situated with multiple shopping precincts, transport links, schools and freeway access all within easy reach including:

• St John Vianney's Primary School
• Albany Rise Primary School
• Wellington Secondary School
• Mazenod College
• Waverley Gardens Shopping Centre
• Brandon Park Shopping Centre
• Springvale Homemaker Centre
• Eastlink & Monash freeways

This is a wonderful chance to secure a prime slice of the Mulgrave market. Will it be yours?