This charming University District residence offers a rare blend of vintage character, modern comfort, and exceptional investment opportunity—perfect for first-time home buyers, or long-term rental income. Move-in ready with quick possession available, this property delivers both immediate livability and exciting future value. Set on a nearly 9,000 sqft flat lot with COR1 zoning, the home supports residential, medium-density, or office development (buyer to verify). Inside, you’ll find just over 1,300 finished sqft of inviting living space. The main floor features two bright bedrooms, a full bathroom, a cozy living room, and an updated kitchen filled with natural light. Classic 1950s details—coved ceilings, crown mouldings, and warm character accents—add timeless appeal. The lower level extends flexibility with a spacious third bedroom or office and a newer, spa-inspired bathroom—ideal for guests, students, or extended family. A 447 sqft partially finished basement with separate access offers even more potential: additional living area or workshop. Recent upgrades include vinyl windows, a high-efficiency gas furnace (2022), fencing (2025) hot water tank (2025), and dishwasher (2025)—ensuring comfort and peace of mind. Outdoors, the west-facing yard captures beautiful Mount Benson views, creating a peaceful space for gardening, gatherings, or relaxation. Alley access opens possibilities for off-street parking, carriage home, or garden suite development. With Vancouver Island University, schools, parks, transit, and amenities just minutes away, this location is ideal for student housing or long-term tenants. Whether you're planting roots or planning ahead, this home offers character, convenience, and outstanding opportunity. Versatile. Investable. Ready to welcome you home.