Exceptionally rare offering in Port Townsend! Don't miss the unique opportunity to own a home on over 3 acres of level land (16 city lots!) in one of the area's most desirable and centrally located neighborhoods. Held in the same family for more than 70 years, this 3.18-acre parcel is ideally situated just blocks from North Beach and directly across from the Fairgrounds. The property features 13 lots zoned C-1/MU (Neighborhood Mixed Use Center) which allows a mix of small-scale commercial and medium-density multifamily development, including retail with apartments above. The 3 bed/1 bath mid-century home sits in R-1 (Low Density Single Family) zoning. The land is a beautiful blend of open space, young & mature trees, and a small wetland with delineation provided. City water, sewer, and power border the property on three sides. The existing 1950s home is selling "as-is" and welcomes updates to its classic bones. Spacious 2-car garage/workshop is ideal for storage, hobbies, or workspace. Bring your vision to life on this expansive and flexible property- a worthy investment in a prime location! Buyer to verify all development options with the City of Port Townsend.