A rare opportunity offering incredible flexibility, income potential, and multi-generational living in the desirable community of Timberlands. Whether you’re looking for rental income, space for aging parents or adult children, a home-based business setup, or a private retreat for snowbirds or a nanny, this property delivers with a beautifully designed main home plus a legal carriage suite. Plus 3 garage spaces. The executive-style modern 2-storey home features 3 bedrooms plus a main floor den, 4 bathrooms, and a functional open-concept layout with stylish finishes throughout. Beautifully tiled flooring flows through the kitchen, dining, and living areas, while the contemporary kitchen showcases granite countertops, stainless steel appliances, and a large peninsula perfect for entertaining. South-facing windows flood the spacious living room with natural light, highlighted by a cozy fireplace and garden door access to the low-maintenance private yard. The main floor also includes a dedicated office space and convenient 2-piece powder room. Upstairs, the spacious primary retreat offers a sunroom, walk-in closet, and luxurious 5-piece ensuite complete with dual sinks, tiled shower, and soaker tub. Two additional bedrooms, a 4-piece bathroom, and upstairs laundry complete the second level. The fully finished basement provides even more living space with a large family/games room, wet bar, and 3-piece bathroom. Adding exceptional value is the detached carriage house featuring a heated 25x25 garage with a beautifully finished 700 sq. ft. legal 1-bedroom suite-residence above. Currently rented for $1,500/month, the suite includes garage parking, to be determined by the owner and rear lane access, making it ideal for supplemental income or extended family living. Located just blocks from shopping, restaurants, schools, and Red Deer’s extensive trail system, this unique Timberlands property combines modern living with outstanding versatility and investment appeal.