This is the one you've been hoping to find; an original house, untouched by careless renovations, on a good size piece of land on the city doorstep in The Wood that's crying out for a complete do-up or re-development.

You just can't find properties like this any more so close to town. It's the ideal buy at a price that's not exorbitant and where there's an incredible amount of pure potential.

Investors and those with an eye to the future will see the sheer opportunity in a 546 square metre site and a house that's perfectly liveable but which will reward modernisation.

Rent while you plan your next move.

Bowl the house and build your ideal city-side home.

Or make plans for a re-development.

The house is a 1960s original, simple in design but built to raise a family in comfort and with 143 square metres of spaciousness. It is stucco-clad with a corrugated iron roof.

The sunny location is just right, not far off Collingwood Street and an easy walk into town over the bridge and along the river side.

There's a mix of housing around but mostly evidence of how much The Wood is being revitalised.

The house has three double bedrooms - one with an office or potential ensuite bathroom-dressing room, a large kitchen and spacious lounge/dining areas.

A large open plan living area opens to a raised patio and steps down to a fully fenced back yard. There's a family bathroom and a separate shower off the laundry.

With a double garage at the back and single at the front (with a toilet), there's plenty of parking and/or workshop area.

Don't put off an inspection. There's sure to be plenty of interest in this redevelopment gem.