This iconic Freeport Cape is on the market for the first time in over 35 years. A perfect blend of classic features and modern conveniences in a highly visible in-town location. The current configuration includes a spacious owners' residence and a guest suite with a kitchenette in the 1880 main house and a 1 BR/1 BA accessory apartment, an additional large studio with a cathedral ceiling and a kitchenette, and a home office with a workshop in the 2006 addition. The layout offers a great deal of flexibility, and the VMU-1 zone offers a large number of potential uses for the property. Just a few possibilities (with Town permission/permitting): multi-family, Air B&B, art gallery, school/daycare, business/professional office, and more. The owners' residence includes a kitchen renovated in 2017 with new cabinetry, granite counters, a large island, and stainless appliances. Additional improvements in the main house include 3 new heat pumps in 2020 and updated plumbing and wiring. The older section of the basement is well insulated and the newer daylight/walkout section is excellent for storage. The side porch with gingerbread detail was completely rebuilt and the rock wall was built in 2019. Two large decks with composite decking. Public water, sewer, and natural gas. Adjacent to Freeport's Leon Gorman Park and a stone's throw to Bow Street Market and all of Freeport's acclaimed shops and restaurants. Convenient to 295 exits 20 and 22. A great opportunity!