Exceptional Development & Investment Opportunity!Rare 1.34-acre property zoned R10 within city limits, offering outstanding development potential alongside a beautifully updated estate. This impressive 6,479-square-foot residence includes an Accessory Dwelling Unit (ADU) and main house is currently operating as a legal vacation rental with strong income-producing potential.Ideally situated adjacent to the 600+ acre Powell Butte Nature Park and the Springwater Corridor Trail, the property enjoys breathtaking views of downtown Portland and the surrounding valley while providing exceptional privacy and direct access to outdoor recreation.The main residence showcases quality finishes throughout, including granite countertops, hardwood and tile flooring, spacious walk-in closets, a luxurious jetted soaking tub, and a vaulted bonus room. Expansive outdoor living spaces feature a large wraparound deck and additional front deck, perfect for entertaining or enjoying the serene natural setting.Additional highlights include a detached four-car garage, an oversized parking area accommodating 10+ vehicles, and no HOA restrictions.Whether you’re seeking a premier residence, income-producing investment, or future development opportunity, this unique property offers an exceptional combination of location, versatility, and long-term value. Don’t miss this rare chance to own one of the area’s most distinctive properties.