Attention savvy investors, professional couples, and builders! Welcome to this exceptional character bungalow situated on a premier 50' x 120' R-C2 lot along one of the finest, most desirable streets in prestigious Crescent Heights. This high-yielding land asset perfectly combines premium urban lifestyle appeal with long-term equity growth. The existing 2-bedroom bungalow is highly liveable and rich with charm. The sun-drenched main level features original hardwood floors, expansive living and dining spaces, a kitchen, a full bathroom, and a dedicated den/home office layout. Maximizing its rental framework and versatility, the property features a completely separate rear entrance leading to a fully developed lower level. The basement is outfitted with a second full bathroom, a large laundry area, and recently upgraded luxury vinyl plank flooring running through three massive flex rooms-including one equipped with a proper egress window for an effortless bedroom conversion. The exterior boasts a private, spacious backyard oasis complete with a highly coveted detached double garage-a massive asset for inner-city living. Step outside into your private retreat or take a short stroll to the stunning downtown skyline views at Rotary Park and the Bow River pathway network. Commuting is effortless, with the downtown core just a scenic walk or quick transit ride away. Live in a premier urban community, generate steady rental income, or hold for future luxury home development under the flexible R-C2 zoning. Don't miss this blue-chip Crescent Heights property!