Classic Portland character, three distinct living spaces, and an exceptional Alberta Arts location come together in this beautifully refreshed 1927 Dutch Colonial. Designer lighting, fresh paint, statement wallpaper, and updated fixtures and finishes give the home a polished, current feel while honoring its original character. The main residence features timeless architectural details, hardwood floors, a formal dining room, and an updated kitchen. The lower level opens up even more possibilities with a one-bedroom apartment and separate entrance. Out back, a contemporary three-story, 1-bedroom, 2-bath detached ADU with loft, office flex space AND its own basement offers exceptional potential for rental income, multigenerational living, a home office, or private guest quarters. Separate gas, electric and water meters and convenient alley access add to its independence and functionality. Whether the vision is rental income, multigenerational living, work-from-home space, or simply room to spread out, this is a property that can evolve with you, just half a block from the restaurants, shops, and energy of Alberta Street. [Home Energy Score = 1. HES Report at https://rpt.greenbuildingregistry.com/hes/OR10186558]