Located in the heart of Anchorage's highly sought-after South Addition, just moments from Westchester Lagoon, the Coastal Trail, downtown, parks, restaurants, and more, this one-of-a-kind property offers exceptional flexibility and opportunity in one of the city's most desirable neighborhoods. Originally built as a side-by-side ranch-style duplex, the home was later lifted to create approximately 2,000 additional square feet of living space below. The upper level features vaulted ceilings that create a bright, open feel, while the lower level offers impressive tall ceilings and large daylight windows that fill the space with natural light, creating an inviting atmosphere rarely found in lower-level living. The property now includes three kitchens, four bathrooms, and multiple living configurations, including a 3-bedroom upper unit and a spacious 5-bedroom lower unit. With its existing layout, the property offers exciting potential for a variety of living or investment opportunities, including the possibility of a triplex-style configuration (buyer to verify zoning and permitted uses). Additional amenities include a two-car carport, an extended driveway with ample off-street parking, a fenced backyard, and generous storage space. Properties offering this level of size, flexibility, and location rarely become available in South Addition. Whether you're seeking rental income, multi-generational living, or long-term investment potential, this is a unique opportunity in one of Anchorage's most desirable neighborhoods.