Perfect size for re-development (subject to council approval) for duplex. Rent out while you do your plans, than sell or rent the duplexes to maximise your returns.
Alternatively renovate the spacious 2-3 bedroom home & enjoy the temperate weather zone. Old fashion one bedroom sleep out (could be converted to granny flat STCA) + separate detached double garage, could be ideal for gym or home business.
Walk to ocean & lake beaches & great amenities.
Hurry to the open house.