Modest Exterior, Surprising Interior! This property has so much to offer, both just as it is and with a tremendous UP side potential! Superbly located mere blocks off coveted Alberta St, you're minutes away from a bounty of dining & shopping-- the location truly cannot be beat! The main house features a welcoming front porch, 2 bedrooms, wood laminate floors throughout, vaulted ceilings, skylights and light-filled, open concept main living spaces. An inviting kitchen provides a generous amount of space with ample cabinetry & countertops. A large bathroom with tub/shower & cool glass block accent also provides a utility area with washer, dryer and storage rack. Tasteful finishes and neutral colors complete the move-in readiness of this gem! The detached garage offers a separate finished room above with 360 sq ft complete with a bedroom, 1 full bath, bamboo & tile flooring, a combo living/dining area and an efficiency kitchen. Custom built-in closets offer a surprising amount of storage. A second washer/dryer set live in the main floor of the garage along with a utility sink. There's a sweet and private fenced backyard with a gazebo, flagstone patio with pathway lighting, and a tool/garden shed. This is the perfect owner occupied home plus rental income--owner rented the main house long term at approximately $2k to friends/family, $1300 for the studio. There's straightforward up side here--take the garage living quarters to ADU status, and then reap the added BONUS of finishing the main floor garage for a second ADU. Additional development possibilities exist in the versatile RM1 zoning with FAR, allowing for greater density! (Buyer to verify all possibilities to their satisfaction) This perfect set up situated in one of Portland's most vibrant neighborhoods is truly a great investment any way you view it! [Home Energy Score = 7. HES Report at https://rpt.greenbuildingregistry.com/hes/OR10233470]