A rare offering on First Street, south of Lakeshore, just steps from Downtown Oakville and Lake Ontario. This highly sought-after 85 x 152 southwest-exposure lot offers exceptional privacy, beautifully landscaped gardens, and an elevated position from the street. Surrounded by luxury homes, this 12,884 SF RL3 SP12-zoned property presents an outstanding opportunity to build a custom residence or renovate the existing 2,350 SF bungalow, which features a well-designed floor plan and generous principal rooms. The home offers 2+1 spacious bedrooms and 4 bathrooms, including a gracious 28 foot living room with a wood-burning fireplace and bay windows overlooking the gardens. A renovated kitchen (2014) is equipped with Sub-Zero and Wolf appliances, quartz countertops, and custom cabinetry. The primary suite includes two ensuite baths, two walk-in closets, and an integrated laundry area, while the private guest suite features a separate entrance, gas fireplace, and 4-piece ensuite. A cozy family room with built-in bookshelves and a gas fireplace enhances the homes appeal, complemented by a lower-level bedroom and 3-piece bath. The exterior boasts a southwest-facing garden with mature perennials, privacy hedging, a stone patio, and a garden shed, providing a serene and secluded outdoor retreat. The above-grade garage with inside entry from the lower level adds convenience and functionality. This is an extraordinary opportunity to acquire a premium property in one of Oakville's most coveted locations.