Brimming with potential and nestled in one of Oak Flats' most convenient and tightly held pockets, 57 Deakin Street presents an incredibly rare opportunity for homebuyers or savvy investors seeking space, flexibility, and location. Originally constructed as two separate villas, the property was reconfigured by a previous owner who cleverly removed the dividing wall to create one expansive single-level home. The result is a spacious, four-bedroom, two-bathroom residence with multiple living areas and endless potential.
Whether you're looking for a generous family home with room to grow or the possibility to restore the property back into two self-contained dwellings for dual rental income, the versatility here is second to none. Situated on a substantial 697m² block, the property enjoys a level layout with easy access throughout, making it ideal for families, retirees, or investors looking to capitalise on Oak Flats' strong rental demand.
A conservative 3-metre-wide side access leads directly to the rear garage - perfect for tradies, extra vehicles, or anyone needing secure off-street parking. Inside, comfort is enhanced by a centrally positioned split-system air conditioner, servicing the heart of the home and ensuring year-round climate control.
Just a short stroll to the town centre, lakeside foreshore, train station, parks, and schools - this home places you in the heart of everything, while still offering a peaceful suburban lifestyle.
Key Features:
• Flexible Floorplan: Originally two separate villas, now one spacious home - easily convertible back for dual occupancy or kept as one large family residence.
• Two Living Areas: Ideal for families needing multiple zones for relaxing, entertaining, or working from home.
• Four Bedrooms & Two Bathrooms: Well-proportioned rooms, all on one level - perfect for growing families or multigenerational living.
• Garage, Carport & Side Access: Great for tradies or hobbyists, with a 3m side driveway to the rear garage and undercover parking.
• Split-System Air Conditioning: Centrally located to service the main living areas for year-round comfort.
• Generous 697m² Block: Flat and fully usable - ideal for kids, pets, or potential future development (STCA).
• Superb Location: Walk to Oak Flats' main street, schools, shops, transport and the stunning Lake Illawarra foreshore.
Rental Potential:
For the pontinal investor, the opportunity to reinstate the original dual-villa layout opens the door to strong rental returns. Based on the size and configuration, each self-contained unit could achieve an estimated rental income of $500 per week (subject to market conditions and final layout), offering a combined return of approximately $1000 per week. Even as a single dwelling, the current four-bedroom home holds excellent leasing appeal in this high-demand area, with rental potential around $750 per week (approx.).
Whether you're after a unique investment opportunity or a home that offers something a little different, this is the kind of property that rarely becomes available in such a prime location. Explore the possibilities and make it your own.
For further details or to book your inspection, contact Alex Cockcroft on 0427 785 000 today.
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