In a spectacular location with river and ocean views, this amazing property is for sale for the first time in 70 years.

The four or five bedroom house was built in the 1950s and would have been a very stately home for its time. Not only did the owner have great vision, but he was also one of Warrnambool's first optometrists.

The home is very spacious, with optional three to four living areas, and those picturesque river and oceans views from most rooms.

The living areas are currently set up as three living and one formal dining, but could be easily changed to suit modern day living, with the option of a cinema room.

The kitchen has an ample number of cupboards, a walk-in pantry, dishwasher and the famous electric St George oven. The kitchen nook has a picture postcard view from the window looking out over the Hopkins River and parkland.

The bedrooms are all spacious, with a combination of built-in and walk-in robes. Each of the bedrooms also has spectacular river and ocean views, or garden views.

The property has three bathrooms, two located downstairs and one on the upper level. The large bathroom has a separate toilet, vanity and shower room. There are three toilets in total, a laundry and two hot water systems.

The property is also centrally heated, with an open fire in good working order in one of the living areas and two split systems.

The back porch area is under cover and home to a fish pond and delightful garden. Further along is a large paved sheltered area, which would be a great entertaining area that steps up to a lovely garden and veggie plot, tool shed or studio and lawn mower shed. The garden is well established and very low maintenance.

The property has a lovely front deck area with river and ocean views and a closed in glass porch for those wintry days. Stairs take you down to two carports and a single garage with space for another car in front.

The property is located in a sought-after area surrounded by million dollar waterfront homes and has huge potential to be slotted into that million dollar category.

Close to great walking areas, boating and fishing hotspots and parkland for picnics, it's also near Proudfoots by the River cafe/restaurant and a five minute drive to Kmart. Primary and secondary schools are also just a five to 10 minute drive away.

The home is ready for a new owner to treat it to a revamp and put their own exciting stamp on it. Call the agent today to arrange a private viewing.