Enjoy the quaint lifestyle and ambiance of historical Elma Street with its' charming heritage homes and shops surrounded by towering mature trees, yet conveniently close the Old Towne Okotoks shopping district. This property offers a lovely residential bungalow style home with potential for a business plus additional structures (within town guidelines for lot coverage). The large lot is beautifully landscaped with mature trees, offering peace and privacy while enjoying morning coffee or outdoor entertaining from the private back deck. Additional separate back entrance with a few steps directly down to basement is ideal for residential or business uses. Single detached garage plus three additional parking spaces and back lane access. Plenty of 1920's character throughout the home with original fir baseboards and casings, vintage doors and a lovely sculptured living room ceiling, meticulously maintained and tastefully decorated with thoughtful detail in maintaining it's vintage character. Total of 1,600 sq. ft. of living space including 3 bedrooms, 2 full bathrooms, spacious living room (could be living and dining combination), and bright eat-in kitchen with outside access to sunny south back deck. Two bedrooms and 4-piece bathroom on main level. Lower level has separate walk-up entrance and is partially developed with spacious 3rd bedroom, 4-piece bathroom, and laundry area with roughed-in plumbing for potential suite development (upon town approval). Several recent upgrades and updates since 2022 including: complete electrical overhaul with plenty of panel space to include additions, underground basement plumbing running to sewage lift station with macerating pump, water softener, efficient side vent hot water tank, central A/C, new thermostat system, lower 4-piece bathroom and bedroom, lower plumbing to accommodate kitchenette or basement bar area, interior paint and carpet, fridge/stove, bathroom upgrades, appliances. This is the perfect home and location for trendy downtown living with additional potential for business uses.