Welcome to 505 1st SE in the heart of Diamond Valley! This 3-bedroom bungalow built in 1966, is filled with character and ready for your vision. Architectural details such as large windows, open floor plan, hardwood flooring, built-in cabinetry and a cozy fireplace gives this home timeless charm. While it requires renovations, it offers a fantastic opportunity to restore and personalize a solid home in a desirable community. The main floor features a spacious living area, bright 4-piece bath and one bedroom. A charming cottage-style kitchen sits at the back of the home with convenient rear access. The fully developed basement expands the living space with a welcoming family room, two good-sized bedrooms, a 3-piece bath, laundry area and plenty of storage. Outdoors, enjoy a private front yard from the porch; or make use of the large, fully fenced - landscaped lot. The back lane access provides excellent potential for garage development. Nestled in the beautiful community of Diamond Valley, you’ll love being close to the hospital, schools, recreational facilities, and downtown amenities. This property is ideal for buyers seeking a project with great bones, abundant character and prime location.