Welcome to 774 Gladys Ave, a truly exceptional opportunity in the highly sought-after historic neighborhood of Rose Park-just moments from the vibrant Retro Row. This two-story Craftsman airplane bungalow is a rare offering and stands out as one of the finest homes to hit the market in the area this year-a unique combo of stunning curb appeal and substantial property tax savings for the next owner thanks to the home's active MILLS ACT enrollment. Set on an oversized 6,749 square foot lot, the property features a 1,619 square foot main residence plus a permitted ADU-an uncommon find in Rose Park. Perfect for whether you're seeking rental income, multigenerational living, or a private office retreat. Inside, the main home showcases a bright, flowing floor plan filled with timeless character. The open living and dining areas feature classic Craftsman details, including original wood trim, wainscoting, ceiling beams, a built-in hutch, and an oversized bay window with built-in seating. The chef's kitchen has been fully remodeled and opens directly to a beautifully landscaped, park-like backyard-perfect for entertaining or relaxing in your own private oasis. Recent upgrades provide both comfort and peace of mind, including a new 200-amp electrical panel, complete rewiring (no knob and tube), bolted foundation, air conditioning in the main living area and primary bedroom, and fresh exterior paint (2024). The detached ADU offers approximately 360 square feet of living space and includes its own kitchenette, bathroom, laundry hookups, AC, and private patio-ideal for guests or supplemental income. Relocated from Signal Hill to Rose Park in 1922, this home blends rich history with modern convenience. Enjoy close proximity to shopping, dining, coffee shops, and all that Long Beach has to offer. This is a rare chance to own a character-rich home with income potential and significant tax advantages in one of Long Beach's most desirable historic neighborhoods.