Perfectly positioned in one of Old Apollo Bay's most tightly held and picturesque pockets, this much loved property offers an exceptional blend of character, space, and future opportunity. Set on a rare 1,176sqm (approx.) north facing allotment, the home enjoys a peaceful setting while sitting just moments from the beach, cafés, weekend markets, and the vibrant village centre. The original three bedroom cottage has been impeccably maintained, retaining its authentic period charm and offering immediate comfort. A separate self contained studio provides fantastic flexibility for guest accommodation, a creative workspace, or a potential income stream. With a generous 20m street frontage, level land bathed in all day sunlight, and right of way access via the rear lane off Whelan Street, the property presents a wealth of possibilities, from enhancing the existing home to designing a luxury new residence or pursuing a multi dwelling development (STCA). Inside, the home features a north facing living room, combined central kitchen and dining area, three bedrooms, and a shared bathroom, with a freestanding laundry adding practicality. The expansive garden, framed by established trees, offers abundant space to create your dream outdoor sanctuary. A secure garage and ample off street parking further elevate the appeal. Whether you're seeking a charming coastal retreat, a rewarding development project, or a blue chip investment, this property delivers unmatched potential in a truly enviable location. Property Highlights: • Prime Old Apollo Bay address in a tightly held, centrally located street • Expansive 1,176sqm (approx.) north facing allotment with 20m frontage • Impeccably maintained original cottage full of character and warmth • Three bedrooms, central bathroom, separate living room, and combined kitchen/dining • Self contained studio ideal for guests, a home office, or overflow accommodation • Low maintenance garden with established trees and ample open space • Secure garage plus generous off street parking • Right of way access via the rear lane off Whelan Street • Potential for subdivision, renovation, or redevelopment (STCA) • Opportunity for second storey views to the Otways (STCA) • Just 315m from the Great Ocean Road and a short stroll to shops, cafés, and the beach • Zoned General Residential A rare offering of scale, charm, and possibility, 3 Martin Street invites you to imagine, create, and capitalise in one of Apollo Bay's most sought after locations.