Set on a fully fenced 1/3-acre parcel with access from both Basswood Ave & Pine Ave, this versatile Olde Carlsbad property creates endless possibilities for multi-generational living, rental income, or a flexible work-from-home lifestyle. There is a studio currently generating rental income with its own private fenced yard and separate parking spot. Perched high above the street, the main living area offers plenty of natural light, vaulted ceilings, seamless indoor-outdoor living with the game room opening to the patio, and a spacious primary suite with French doors leading to a private balcony. The tropical grounds showcase specimen palms, mature landscaping, custom wrought iron gates, designer lighting, and custom hardscape with fire pit-perfect for entertaining or relaxing year-round. The oversized two-car garage features elevated ceilings and abundant natural light, creating a versatile space that could be used for a workshop, beach toys, recreational vehicles, or future creative use. Take advantage of quick access to Carlsbad Village shops, restaurants and world-class beaches. Top-rated Carlsbad schools. No HOA.