Welcome to 131 Albert Street, a thoughtfully updated split-level home in one of Collingwood's most desirable, walkable neighborhoods. Just a 10-minute walk to Sunset Point and approximately 15 minutes to the Collingwood Heritage District, this location offers an ideal blend of lifestyle, convenience, and versatility. This 4-bedroom, 2-bathroom home has undergone extensive renovations, with most major updates completed between 2022-2023. Improvements include a new roof and eavestroughs, energy-efficient heat pumps with air conditioning, new appliances (washer, dryer, stove, dishwasher, and fridge), and the addition of an attached accessory apartment. The studio suite features a separate entrance and is approved for use in partnership with the Rural Ontario Medical Program (ROMP), currently generating a minimum of $200 per week. Additional upgrades include improved attic insulation, five updated windows, renovated kitchen and bathrooms, and a refinished basement, enhancing overall comfort and livability. This flexible layout may also appeal to service-based professionals seeking a live-work arrangement, offering separate access and ample parking (buyers to satisfy themselves regarding intended use). Inside, the main living spaces feature wood flooring throughout, with stair runners only, and a practical mudroom-ideal for busy households, pets, or active lifestyles. The property also offers a single-car garage, partially fenced (approximately 80%) yard, tiki bar, storage shed, and generous parking to support multi-use living. Whether you're searching for a family home, a house-hacker's opportunity, or a flexible live-work setup in a prime location, 131 Albert Street delivers exceptional value and adaptability.