Welcome to this versatile raised bungalow in Penetanguishene, offering an excellent opportunity for homeowners, investors or those seeking multi-generational living! The main level offers a functional layout and features an open-concept kitchen, living and dining area, three bedrooms and a full bathroom. The attached garage offers convenient inside entry, adding to the home's everyday functionality. The lower level features a separate entrance leading to a spacious two-bedroom apartment, complete with its own kitchen, living and dining areas, full bathroom and laundry facilities. This flexible layout offers fantastic income potential, with the opportunity to offset mortgage costs or comfortably accommodate extended family. Outside, the fully fenced backyard and deck provide a great space for relaxing, entertaining and enjoying the outdoors. With five bedrooms, two full bathrooms and two distinct living spaces, this property offers a wonderful combination of comfort, versatility and investment potential in the welcoming community of Penetanguishene.