An outstanding investment or development opportunity (STCA) on 555sqm approx, this classic 2 bedroom Art Deco home + modern 2 bedroom villa (new carpets and floor boards throughout) takes pride of place opposite Koornang Park. Currently rented to long term tenants, giving you income while you create the grand plan, the front home features a security porch, high ornate ceilings, a north facing lounge (gas heater), adjoining dining room (fireplace), an updated kitchen, 2 big bedrooms (1 with BIRs), a sunroom, central bathroom, external laundry, a garden shed and a parking bay. A common courtyard takes you to the rear more modern unit with its sun drenched open plan design (gas heating & air conditioning), neat kitchen, 2 double bedrooms (BIRs), large bathroom/laundry, separate toilet, tandem carport and a large shed. With multiple options up your sleeve, you could retain the Art Deco home and renovate its endearing charm and make money by removing the back unit to create a glorious family home, you could maintain the tenants, rebuild a spectacular new parkside family haven or redevelop (STCA). Just a short walk to the tram, bus, Koornang Road cafes, the outdoor pool and Carnegie Primary School, moments to the train and fantastic restaurants. Lease terms Property #1 (Front): $1,782pcm (Month to month) Property #2 (Rear): $1,651pcm (Until 5th Oct 2021)