A unique and rewarding opportunity presents itself with this classic home, positioned within a leafy street, with magnificent views, that has withstood the test of time and affords astute buyers a promising future ahead. Occupying a spacious 1012m2 (approx.) block, framed by a thriving front garden and a neat street appeal. With its ideal proportions and orientation in mind, this property presents an incredible opportunity for redevelopment in the Residential Growth Zone with DDO7 overlay (STCA), whilst also lending itself to a full renovation to create a stunning contemporary home or redevelopment with a luxurious new home. Perfectly comfortable and well preserved, the existing home basks in its original character, offers well-proportioned living and dining rooms with high ceilings, three generously sized bedrooms that are serviced by the original bathroom with shower, bathtub, and separate toilet. The kitchen is well equipped with plenty of bench space and extra-large walk-in pantry. Providing the bones for the ultimate family sanctuary, or proportions to develop on the outside, this property also features, gas ducted heating, ceiling fans, dedicated laundry, double garage and further off-street parking. Offering position and potential, whatever you choose, this is a fantastic opportunity in this popular pocket of Lilydale. Well located, just a short stroll to Lilydale Main Street cafes, restaurants, shops and amenities along with quality primary and secondary schooling options. A short drive to Eastland, Eastlink and under an hour to the Melbourne CBD or in the other direction the delights of the Yarra Valley to explore on the weekends.