An exceptional opportunity to own a truly unique property offering versatility, income potential, and room to grow! Situated in a sought-after, mature neighbourhood, this charming bungalow has been extensively renovated throughout, blending modern updates with timeless character. The main floor features three generous bedrooms, including a spacious primary retreat with a beautifully finished ensuite. A large bonus room, currently used as a home gym, provides endless possibilities as a family room, studio, home office, or additional living area. The non-conforming (illegal) basement suite is thoughtfully designed with two bedrooms, one of which includes an attached flex room that could serve as a third bedroom for roommates, a home office, nursery, or an oversized walk-in closet. Separate laundry for both the upper and lower suites adds convenience for homeowners and tenants alike. Numerous updates throughout the home include a newer furnace, hot water tank, upgraded sewer line, new siding, new exterior doors, and a roof that has received a shingle rejuvenation treatment to help extend the life of the existing shingles. The existing suite provides an excellent mortgage helper, but what truly sets this property apart is the additional titled land behind the home. This rare parcel was purchased and incorporated into the property's title, opening the door to a variety of future possibilities. Whether you envision building a dream shop, creating additional parking or storage, or exploring future opportunities for an additional residence or other income-generating use (subject to municipal approval), this property offers flexibility that is difficult to find. Surrounded by established trees and conveniently located near schools, parks, shopping, and Henderson Lake Golf Club, this one-of-a-kind property combines modern updates, investment potential, and exceptional versatility in one of the city's most desirable mature neighbourhoods.