In a premier position opposite Macquarie Lighthouse and vast clifftop parklands, this c1920s home offers potential for transformation to a luxury residence (STCA) taking full advantage of panoramic views to the Opera House, Harbour Bridge and city, as well as easterly views to the ocean from an upper level. Take inspiration from neighbouring residences to create your dream home on approx. 676sqm land with 23.65m street frontage, sunny garden and driveway to a tandem garage. Offered for the first time in 73 years, the property has R2 Zoning with 9.5m height limit allowing for extension of the existing house or construction of a new residence (STCA) befitting the dress circle location between Vaucluse village and Watsons Bay. The iconic harbour views make a breathtaking backdrop to the home's light-filled layout including large living room, dining area, two sunrooms, bathroom, updated kitchen and laundry opening to a side courtyard with path leading to the garden. Enjoy an idyllic harbour and coastal lifestyle just footsteps to Christison Park's expansive playing fields and a five-kilometre clifftop walking path with spectacular postcard views to the ocean's horizon. In a family-friendly locale with 280m walk to the Grumpy Baker cafe, the property is minutes to top schools, Vaucluse Yacht Club, Parsley Bay and Camp Cove harbour beaches, as well as Doyle's On The Beach world-famous restaurant and the ferry wharf at Watson's Bay. - Spectacular Harbour Bridge, Opera House & city views - Approx. 676 sqm land with 23.65m wide street frontage - R2 Zoning with 9.5m height limit and huge potential - Dress circle position, sunny NW aspect, large garden - C1920s home with traditional single-level layout - Large living room with decorative sandstone fireplace - Dining area flows to sunroom: both with harbour views - Kitchen with Neff cooktop, Neff oven, Miele dishwasher - Master king-size bedroom with built-ins & harbour views - 2 more bedrooms with built-ins: one with harbour views - Bathroom with bath/shower; laundry opens to courtyard - Two-car tandem garage, driveway parking for 3rd car - Footsteps to vast parklands and coastal walking path - 280m to Grumpy Baker café, 850m to shopping village - Minutes to top schools, harbour beaches, Watsons Bay