A truly special home offering lifestyle, flexibility, and income potential. Located in the sought-after pocket of Bel-Air Park, this renovated all-brick Campeau bungalow - ideal as a spacious single-family home - also features a potential legal short-term rental suite in the basement with the option for additional income. The bright, open-concept main floor offers a welcoming fireplace and beautifully renovated kitchen designed for everyday living and entertaining. Features include a long peninsula, induction cooktop, and functional U-shaped layout. Oversized patio doors open to a private backyard retreat, seamlessly blending indoor and outdoor living. Upstairs offers three spacious bedrooms and an updated main bathroom. The fully renovated lower level is a standout, featuring 3 bedrooms (one requiring only a door), a large open living area, renovated kitchenette, and two full bathrooms, including an ensuite. Possibilities abound. With its separate entrance, the space is ideal for multigenerational living, university-aged children, a separate home-based business where you can host clients from the comfort of home, or a highly attractive income opportunity. A permitted short-term rental has generated upwards of $40,000 annually for several years. Enjoy it as a fun part-time opportunity while keeping the space available for visiting family or operate it more full-time. The backyard is truly exceptional, featuring a heated saltwater pool with waterfall feature surrounded by beautiful stonework. The covered outdoor kitchen includes a built-in gas BBQ, outdoor TV, and wine fridge - perfect for entertaining and creating lasting memories. A spacious detached heated garage includes a convenient change room for pool days and ample storage. Centrally located near shops, parks, and the upcoming LRT. Major updates include furnace and A/C (2024), pool heater (2024), basement renovation (2019), owned hot water tank (2019), and roof (2014).