Welcome to 240 Paisley Street, a charming 2.5-storey brick home offering income potential, character, and exceptional convenience - all just minutes from charming downtown Guelph. Situated on a large corner lot with ample parking and a fully fenced backyard, this legal 2-unit property is an incredible opportunity for investors or multi-generational families! Inside, you'll find 6 bedrooms, 3 bathrooms, 2 kitchens, and a finished basement with its own separate entrance. Original details give the home its timeless appeal, including deep baseboards, original hardwood floors, a classic wood-paneled staircase, and a decorative fireplace. The first unit spans the main and lower levels. The main floor features a spacious enclosed sunroom, a bright living area, a kitchen, two bedrooms (or a flexible layout that includes a main-floor sitting room that can be used as an additional bedroom), and a 4-piece bathroom. The finished basement adds one more bedroom plus a large living room that can also function as an additional bedroom, a bonus 3-piece bath, plus laundry and storage. The second unit, occupying the second and third levels, offers exceptional space. The second floor features a generous living room, kitchen with a dedicated dining area, a bedroom, and a 4-piece bath. The third level includes two additional bedrooms and storage. This floor plan is ideal for students, tenants, owner occupant or extended family. Outside, enjoy a large fenced yard, mature trees, and an oversized storage shed with room for bikes, tools, and seasonal items. All of this is in an unbeatable location at the corner of Paisley and Edinburgh: a 10-minute walk to downtown, 20-minute walk to the GO Station, 35-minute walk to the University, and steps from public transit, parks, and neighbourhood conveniences like a laundromat. A rare opportunity to own a character-filled home offering outstanding flexibility and long-term potential!