A rare opportunity just steps from the lake and park, this versatile property in highly regarded Azle ISD offers endless possibilities for homeowners, investors, or multigenerational living. Privately tucked behind a wrought-iron gate on an oversized lot with room for future expansion, this unique two-story residence combines updated living spaces, income potential, and a location that's hard to beat. The expansive grounds feature a long paved driveway with abundant parking, a charming gazebo perfect for evening gatherings, and enough additional frontage to potentially build another home. Whether you're looking to live in one unit and lease the other or create the perfect setup for extended family, this property is designed to adapt to your needs. The vacant lower-level residence is beautifully updated and ready for immediate occupancy, featuring 2 bedrooms and 2 baths with hardwood and tile flooring throughout. The spacious living and dining areas flow into a stunning remodeled kitchen complete with quartz countertops, shaker cabinetry, stainless steel appliances, and designer tile backsplash. The private primary suite offers a barn door entry, walk-in closet, and a spa-inspired bath with granite counters and a frameless glass shower. A secondary bedroom with built-ins and another updated bath complete the space. Upstairs, the second unit is currently leased month-to-month, providing instant income potential. This updated 2-bedroom, 1-bath residence features an open-concept layout, luxury vinyl plank flooring, and a beautifully renovated kitchen with quartz counters, shaker cabinets, and stainless appliances. The stylish bathroom mirrors the modern finishes found downstairs with a tiled shower and frameless glass enclosure. Both units enjoy energy-efficient mini-split systems, a tankless water heater, and access to a shared laundry area with exterior entry. A large storage shed and workshop add even more functionality for hobbies, tools, or recreational gear.