Step back in time and discover the charm, character, and opportunity this unique 1930's bungalow has to offer. Originally built as one grand family residence, this impressive property has been thoughtfully converted into two self-contained flats, each offering comfortable living with 2-3 bedrooms each and their own heat pump for year-round comfort. Throughout the home, many of the original features have been lovingly retained, showcasing the craftsmanship and elegance of a bygone era. From stunning chandeliers and the beautiful cloak bay to the rare inclusion of a large original safe, this property is rich in history and character that simply cannot be replicated. For investors, the appeal is immediate. Both flats are currently tenanted, with tenants keen to remain, providing instant income from day one. For those seeking flexibility, the property also lends itself to a variety of commercial or professional uses, having previously operated in a commercial capacity. Adding even more value is the separate section included on the title and multiple sheds. Whether you're considering future development, additional parking, extra income opportunities, or simply securing land for the future, the possibilities are yours to explore. Location is key, and this property delivers. Situated just moments from Masterton's town centre, you'll enjoy the convenience of being within walking distance to supermarkets, shops, cafes, schools, and local amenities. A nearby walkway provides easy access through to Queen Elizabeth Park, offering a wonderful recreational space right on your doorstep. Whether you're looking for a sound investment, a character-filled commercial premises, or a property with future potential, this exceptional offering combines history, location, and opportunity in one compelling package. Don't miss your chance to secure a piece of Masterton's heritage with multiple income streams and endless possibilities.