Nestled in an enviable address boasting the luck of the number 8, this exquisite home offers breathtaking panoramic views of the Ranges and an unparalleled location just steps away from PLC, Deakin University, and convenient tram access. Spanning an impressive 604sqm approx., this exceptional property presents an ideal opportunity to create a luxurious new home (subject to council approval). The current residence provides a comfortable living space and presents a lucrative rental option while you finalize your plans and permits. As you enter, you are greeted by a welcoming lounge adorned with a cozy gas heater, seamlessly flowing into the adjacent kitchen and spacious meals area. Two well-appointed bedrooms are serviced by a family bathroom, separate toilet, and laundry facilities. Step outside to appreciate the awe-inspiring views that await, allowing you to envision the remarkable future this property holds. The expansive backyard, complete with a bungalow and double garage, offers endless possibilities for outdoor enjoyment. Positioned in an esteemed locale, this prestigious address is enhanced by a children's playground just across the road. Within a short stroll, you'll find yourself at PLC, Deakin University, Wattle Park Golf Course, Gardiners Reserve, Mount Scopus College, and tram connections to Burwood Shopping Village, Burwood One Shopping Centre, the CBD, and nearby train stations. In addition to its outstanding features, it's worth noting that the house is currently leased on a month-to-month basis, generating a rental income of $1520 per calendar month. This provides a valuable opportunity for immediate returns while you navigate the process of obtaining plans and permits for your future development. Secure a steady income stream as you plan and envision the transformation of this remarkable property. Indulge in the perfect blend of location, views, and potential, making this exceptional property a dream opportunity for those seeking luxury and convenience in one package.