23 Tannery Street Unanderra NSW 2526

6-bed house with granny flat | R3 medium-density zoning | 1,237m² near-level block | large 6-car garage This property presents a rare dual-opportunity within a single title: a large, established family home with an income-producing granny flat, sitting on a subdividable R3-zoned parcel. Its configuration is strategically strong for a growing or multi-generational family seeking rental offset, or for a developer eyeing a townhouse project, given the scale and zoning. The substantial, level land size is increasingly uncommon and forms the core of its value. Proceed with the understanding that its price reflects development potential, not just its existing improved value. Your capital is allocated primarily to the land, requiring a deliberate strategy to unlock it through either construction or subdivision, which carries cost and approval risk. For a buyer, the clear path is to hold as a high-utility family holding with granny flat income, or to develop; holding it passively wastes its zoning advantage. A Propcred report would pressure-test its valuation against true comparable sales, detail locality-specific development constraints, and identify any insurability issues with the older structures.