Hi Missy,
First of all well done on the purchase. I know the area quite well and being close to Southland and the train station is a great bonus.
As this area of Cheltenham is pro-development I believe the possibility of 2-3 townhouses on the site is quite achievable.
I am a Builder/developer and work with investors on joint Venture opportunities.
If this is something you might be interested in please feel free to contact me.

Regards,

Barry
0438170700
[email protected]