Incredible opportunity on over .41 of an acre property in the heart of Chagrin Falls, just steps from downtown shopping, restaurants, Riverside Park, and the iconic waterfalls. Overlooking the village with a deck, 2 balconies, and stone patio with wooded views, and a 2nd stone patio with views of downtown, this extensively renovated property offers exceptional flexibility as a high-performing income property or a truly one-of-a-kind personal residence within the Chagrin Falls School District. Taken down to the studs and transformed with over $1.8 million in improvements, including $48,000 in new piping from the home to the sewer in 2024, the property is currently configured as a short-term rental with strong income potential estimated at up to $15,000 per month. An elevator services the home, while a 4-car tandem garage and driveway parking for up to 9 vehicles add remarkable convenience rarely found this close to the village. The open-concept main level is designed for gathering, featuring a spacious family room with stone fireplace and balcony access, dining area with built-in live-edge wood bar, updated eat-in kitchen with stainless steel appliances and center island, plus a guest bedroom, full bath, and a sitting room with patio access that could serve as an additional bedroom. The third-level is highlighted by a vaulted owner's suite with floor-to-ceiling stone fireplace, private balcony, walk-in closet, and spa-inspired bath with soaking tub and tiled Roman shower. This level also offers 2 additional bedrooms, including one with access to the deck, laundry, and the potential to complete a third kitchen for expanded rental use. The lower level functions as a private suite with its own entrance, living area, kitchen, bedroom, and full bath. INCLUDED are ALL kitchen appliances and washer/dryer.