Attention builders and developers this home sits on a 50' x 120' DC zoned lot on a quiet street in the sought-after inner city community of Killarney just steps from parks, schools, numerous amenities and transit. Alternatively, for those homeowners looking for a large inner city bungalow with a huge oversized garage, this is your opportunity. This renovated open-concept floor-plan bungalow boasts a front living room, bathed in natural light from a large picture window and is accented by a corner gas fireplace trimmed in tile. The adjacent dining room flows into the rear kitchen, which boasts stainless steel appliances, tiled backsplash, corner pantry, island with an eating bar and a patio door leading out onto the rear deck. In addition, the main floor features two bedrooms and an office, with the primary bedroom offering a walk-in closet and a luxurious five-piece ensuite with heated floors. Conveniently, the laundry room is also located on the main floor. Gleaming hardwood floors throughout enhance the main level's elegance. The fully finished basement, with large windows, provides ample space for a family room, custom wet bar, second gas fireplace, bathroom, gym or flex space, recreation room, and a third bedroom. The oversized double garage is perfect for car enthusiasts, mechanics, carpenters, or extra storage. This picturesque property in an ultra-convenient location is ideal for owner occupancy, investors looking for an executive rental, or builders who can have the luxury of rental income while plans and permits are obtained.