38 Trevor Avenue, Lake Heights NSW 2502

3 bed | 1 bath | 828 m² block | Lake Heights | New to market The property offers a rare combination of a functional three-bedroom house on a large 828-square-metre residential block in a Wollongong suburb where land is the primary constraint. For a buyer, this configuration signals strong potential for capital growth driven by land content rather than dwelling condition. The freestanding house, though older and compact, provides immediate rental or owner-occupier use while the site holds longer-term redevelopment optionality, subject to council planning. This property best suits a buyer with a patient horizon who prioritises land bank positioning over turnkey finish. The principal risk is the dwelling’s limited size and single bathroom, which may cap rental yield and resale appeal to owner-occupiers seeking more space. No subdivision approval or DA history is confirmed, so buyers must assume holding costs for the existing house while investigating planning controls. The opportunity lies in the land-to-price ratio: comparable blocks in Lake Heights are scarce, and a buyer who acquires at a land-dominant price can add value through a future renovation or, if zoning permits, a dual-occupancy development. Hold this property for its land value and treat the house as a placeholder.