A double block on the waterfront at Lake Macquarie has hit the market, with the option to purchase the parcels of land together or individually.
The deceased estate property spans 139 and 141 Brighton Avenue.
The 970sqm waterfront property at 141 Brighton Avenue is priced for sale with a guide of $2 million to $3 million.
The street-facing two-bedroom property on 407 square metres at 139 Brighton Avenue is expected to fetch around $800,000 to $1 million.
David Westerman of Altitude Real Estate said the property opens up endless possibilities for buyers on the hunt for an expansive waterfront opportunity on Lake Macquarie.
"It is a very rare opportunity," Mr Westerman said.
"I actually live a couple of doors up from the property so I know that part of the lake very well.
"It is one of the last originals on this strip that hasn't been seriously renovated or knocked down so it is really unusual in that way because blocks like this just don't come up anymore."
The top elevated block at 139 Brighton Avenue overlooks Lake Macquarie and offers sweeping water views, all within walking distance to the centre of Toronto.
The home takes in lake views from both the kitchen and living area, as well as the balcony.
Positioned back from the lake's edge, the house is set on a gentle slope, providing plenty of opportunity for an extension, rebuild or development (STCA) that would make the most of both the position and outlook.
"The original owner lived at the property at the top of the block but he also owned the waterfront property as well," he said.
"We are looking to sell both separately but they can be sold in one line."
The waterfront house requires either a major renovation or knockdown and offers an absolute lakefront position and shared jetty.
"It would be a serious renovation project if someone were to take that on," he said.
"The home is derelict and was never lived in but the beauty of this is someone could buy the waterfront block and knock that down and rebuild.
"It is a 970 square metre block so there is plenty of room and it's a level block.
"Whoever buys that might want to buy the roadside block as well or leave it as a battle axe and have separate owners on those."
There is also the potential to build a boat shed (STCA).
Mr Westerman said the property had already attracted strong interest less than one day after the listing went live.
"We are already getting interstate enquiries," he said.
"We will be fielding enquiries from the market and be guided by that with the price."
The top residential sale on the street is $4.7 million paid for a waterfront home at 149 Brighton Avenue in March this year.
