Situated just 700m to Port Phillip Plaza and Rosebud Foreshore youll find this three bedroom western red cedar home thats found on a generous 792ms allotment. Complete with a current Town Planning Permit for the construction of two new three bedroom units each including an ensuite to the master bedroom, open plan living, plenty of storage space and car accommodation. Together with a long term tenant in place to provide a little added rental income while you finalise the building permit or consider as your next investment property, or renovation and simply tuck the permit away for a later date. Combined with being just a stones throw to Rosebud High School and just a few minutes walk to the beach and major shopping this is one property that is sure to stir some interest!