Nestled in a tranquil and sought-after location, this property boasts an exceptional MC-1 zoned lot, surrounded by prestigious multimillion-dollar homes. The well-maintained bungalow, in pristine condition, offers unparalleled convenience being within walking distance to amenities and transportation, and mere minutes from downtown. With dimensions of 37.5 X 125 feet, the lot presents abundant potential. Whether envisioning a luxurious single-family home with a legal basement suite or a stunning duplex/triplex configuration, or even exploring the possibility of a four-story apartment building (subject to city approval), the options are limitless. Inside, the home features a spacious living and dining area adorned with gleaming hardwood floors, complemented by an updated kitchen illuminated by a skylight. A charming sunroom overlooks the meticulously landscaped yard, enhancing the property's appeal. The generously sized master bedroom and renovated 4-piece bath ensure comfort and style, while the developed basement offers additional living space with a bedroom, family room, 3-piece bath, and ample storage/workshop area. Recent upgrades include a new hot water tank and serviced furnace, reflecting meticulous upkeep and pride of ownership. Currently rented to a long-term tenant month to month for $2000 offering immediate revenue or redevelopment potential. This property represents exceptional value, whether as an investment opportunity or as the foundation for a bespoke dream home in coveted South Calgary.