Poised across from Peninsula Park, a 1913 city treasure retained from Portland's City Beautiful Movement, with its picturesque fountain, plethora of roses, playground, community center, basketball courts and pool. Enjoying a 100 BikeScore, this time-honored bungalow features a permitted treetop ADU and a dazzling lower-level living zone! Step through the robust glass entry door with sidelights, into living spaces with natural light streaming in from three sides. Relax in front of the fireplace and watch the light dance across the original oak floors. The tiled kitchen has stainless steel appliances and a new sink with integrated tools. Flanking the hallway are two spacious bedrooms, ample closets, a classic bathroom and the original stairwell that could readily reconnect the house and ADU if you are seeking more togetherness. Teens, housemates, in-laws? No problem! A world awaits downstairs with a common area, washer/dryer, two more bedrooms and a sleek bathroom with heated floors! Check out all the storage, two electrical meters/panels and two water heaters, including a hybrid solar/electric unit. Around the back, you'll find a staircase up to an alluring two-bedroom flat with refinished fir floors, new carpet, skylights, new appliances and in-unit laundry! Backing to an alley, the large garage can be restored to hold a ton of gear, vehicles, or jammin' indoor/outdoor living. The fenced private backyard's centerpiece: a fruitful apple tree! Great for multi-gen living or short term rental in the lower level. Move in ready, with room for your finishing touches.