A rare opportunity in one of Ashland's most sought-after neighborhoods! Just above Southern Oregon University in the Mountain Pines Subdivision, this charming 2-bedroom, 1-bath cottage sits on a spacious .23-acre lot, ideal for building your dream home while living on site. The property is already equipped with two meter boxes, plus water and sewer lines in place, offering a head start on future development. Inside, the cottage features an open floor plan with a breakfast bar, original fir floors in the living room and one bedroom, and laminate wood flooring in the second bedroom and kitchen. Large picture windows bring in abundant natural light, equipped with a mini-split heating and cooling system while the daylight unfinished basement provides ample storage and workspace. Enjoy the peaceful outdoor space, beautiful mountain and sunset views, and a quiet setting surrounded by highly desirable homes, just minutes from downtown, SOU and Ashland's trail system!