Located on one of Collingwood's fabled and highly sought-after "Tree" streets, you will find 620 Oak Street: a pristine, raised bungalow featuring a legal second suite in the basement. Boasting 3 bedrooms up and 2 bedrooms down, this versatile property serves as an exceptional mortgage helper or an equally impressive addition to your investment portfolio. The upper unit is vacant, giving you the immediate option to move right in or rent it out to maximize your income stream. Converted in 2020, the property underwent a renovation where the basement was completely redone and a legal second suite was added. Capital upgrades include a 200 amp electrical panel, all-new electrical circuits(Basement), and new PEX plumbing throughout the lower tier. A new sewer line was run to the town's sewer. To ensure complete peace of mind, an internal weeping tile system and a new sump pump were integrated to guarantee a dry, worry-free lower level. Maximizing convenience, each unit features its own separate laundry facilities. The upper unit offers a bright layout with 3 bedrooms, a dining area, a spacious living room, and a nicely fitted kitchen, creating the perfect footprint for a small family. Externally, the property features a lovely rear yard and a front driveway with parking for 3 cars. Beyond the doorstep, the location offers the ultimate lifestyle. It is a short walk to the highly regarded Cameron Street Public School, known for its excellent reputation. Nestled in a quiet, historic neighbourhood, you are also walking distance to downtown's vibrant boutique shops, fine dining, and cafes. Collingwood is Ontario's premier four-season playground. You are only minutes from the legendary ski hills of Blue Mountain, pristine golf courses, and the expansive shores of Wasaga Beach. With immediate access to trail systems and the beautiful Georgian Bay harbour front, this property pairs flexibility and income with an unbeatable location.