Securely leased until December 2024 and returning an impressive $62,568 per year, $1200 per week (approx), this beautiful period home provides a wonderful opportunity to invest in a blue chip locale. Impressively renovated over the years and luxuriously appointed, this spectacular and substantial double storey Californian Bungalow offers exceptional living. Providing flexible, character-filled spaces throughout, the home can easily function as a fabulous family abode, with plenty of space to work from home and entertain with ease. Set behind a high front fence, a private oasis awaits. A magnificent wide hallway and stunning timbers floors set the tone upon entry for this impressive property. Flanked by two large bedrooms, including a gorgeous main bedroom with walk in robe and beautifully designed ensuite. An impeccably designed kitchen is at the heart of the home with an enormous butlers pantry. A clever use of timber, stone, brick and high quality cabinetry and appliances. The adjoining family room is where friends and family will gather. An intimate space with a gas log fireplace and a spectacular pendant light to complete this picture perfect room. A beautiful main bathroom, well proportioned, with a freestanding relaxation bath tub. Additional versatile spaces towards the rear of the home. A sitting room and a dining space overlooking the back yard, capturing the northern sunlight. Outside, you will find a decked entertaining area, a private courtyard, plus a grassy north facing side yard with access through to the carport, making this home perfect for families, pets and those who love to entertain. Adding to the appeal and the versatility of this property is the perfect home office space, a wonderful little studio separate from the main house. Upstairs, a truly gorgeous space awaits. Nestled into the high ceilings, the two upstairs rooms are bright and airy and offer exceptional retreat zones. Spaces to relax and get away from it all. Carport plus a space in the driveway for a second car if needed. Located in beautiful Bayside Newport. Right near Newport Station, local shops, cafes, schools, parks all within walking distance. Easy access to The Strand, our waterfront playground and into Williamstown in no time at all.