Rarely does a 35 x 137 ft lot in one of Scarborough's most coveted lakeside enclaves available in the market. Tucked into the Cliffside-Bluffspocket of Cliffcrest, this detached bungalow sits minutes from Bluffer's Park, the Scarborough Bluffs, and the marina - the same stretch of shoreline that's drawn a wave of custom-home building as buyers compete for proximity to the lake. This is a property with three distinct paths forward. Move in and enjoy solid bones with room to update at your own pace. Hold and rent - the existing layout offers two separate units, a bachelor suite with its own front entrance plus a second unit with side entrance, giving immediate income potential or multi-generational flexibility. Or take the lot and start fresh: with builders actively reshaping this street with custom infill homes, 138 Gradwell offers the frontage and depth to design something entirely new, steps from the water. Inside: 1+1 bedrooms, 2 bathrooms, 5 rooms across 1,100-1,500 sq ft, with a partially finished basement adding further living or rental space. Vacant and available for immediate possession. Sold in as-is condition. Location is the real asset here - a short walk to the Bluffs' trails and beaches, close to St. Clair Ave E and Kingston Rd for transit and shopping, and within reach of local schools. Whether you want to renovate, invest, or build your dream home on one of the last accessible lots in this lakeside community, 138 Gradwell Dr delivers the land and the location that make it possible.