Timeless Craftsman bungalow in the highly desirable Greater Woodlawn neighborhood of St. Petersburg, offering historic character, modern conveniences, and the added advantage of a valuable financial benefit through potential rental income. This property features a spacious 3BR/2BA main residence with over 1,500 SF, original refinished heart pine floors, high ceilings, fireplace, updated kitchen with quartz countertops and stainless steel appliances, formal living and dining areas, separate office, sunroom, and inside laundry. Enjoy the oversized wraparound screened porch, private deck, and fenced backyard. A separate two-story building in the rear provides additional flexibility, featuring an updated 2BR/1BA apartment upstairs and a studio downstairs, offering excellent opportunities for rental income, guest accommodations, multigenerational living, or private workspace. Additional features include a two-bay garage, separate water and electric meters for each building, and off-street parking. Major improvements include main roof replacement in 2021, porch roofs in 2023, and main house A/C in 2022. Ideally located within walking distance of popular restaurants and shops and just minutes from Crescent Lake Park, Downtown St. Petersburg, beaches, hospitals, and I-275. A rare opportunity to enjoy a beautifully maintained home with exceptional flexibility and income-producing potential in one of St. Petersburg's most desirable neighborhoods. The property is not in a flood zone.