Located in the highly desirable community of Southwood, this meticulously updated property offers an outstanding opportunity for growing families, multi-generational living, downsizers, or savvy investors. Boasting a highly functional layout, the property features a fully permitted legal secondary suite, providing incredible rental potential or the perfect space for extended family. A spacious and welcoming foyer leads to the bright main level, which offers a generous living room, a dedicated dining area, and an upgraded open-concept kitchen equipped with stainless steel appliances. This level is completed by three well-proportioned bedrooms, a modernized 4-piece bathroom, and convenient main-floor laundry. The fully finished lower-level legal suite features its own separate living space, including a large family room, two additional bedrooms, a second 4-piece bathroom, dedicated laundry, and ample storage. This configuration offers the ultimate flexibility to "live up and rent down," or comfortably accommodate adult children or senior parents. Situated on a mature lot, the property includes a large backyard and a detached double garage. The prime location provides exceptional convenience, situated just a 7-to-8-minute walk from the LRT station, within walking distance of two daycares and a junior high school, and minutes from local amenities. Combining prime location, modern updates, and proven revenue potential, this property is a rare find, plus the roof is seven year old and the high-efficient furnace was recently replaced.