Under contract-accepting backup offers. Welcome to 403 Magnolia Dr., a stunning Colonial Revival home located in the renowned 'Florida Heritage' neighborhood of Harbor Oaks, nestled in downtown Clearwater. This exceptional property, built between 1918 and 1925, has been thoughtfully restored, updated, and modernized to offer the epitome of elegance. With 9,644 square feet of living space, this residence boasts 7 bedrooms, 7.5 bathrooms, and exquisite hardwood flooring throughout. Step inside and be greeted by the grandeur of the east and west formal living rooms, bathed in natural light streaming through the floor-to-ceiling windows. This home is designed for effortless entertaining, offering a sun-filled solarium, a cozy library, a spacious family room, and a formal dining room. The deluxe kitchen is a culinary enthusiast's dream, featuring top-of-the-line stainless steel appliances, a Dacor gas oven and range, and a convenient walk-in pantry. The first level also includes a generous laundry room that leads to the maid quarters. Ascending to the second level, you will discover two master bedrooms, each with private access to the expansive wrap-around deck and lanai. These master bedrooms boast luxurious 'Restoration' style bathrooms, exuding elegance and sophistication. Adjacent to the master suites, you will find several guest rooms and a bright Moroccan-themed living room, creating a tranquil and inviting atmosphere. Continuing to the third level, a magnificent master-style in-law suite awaits, complete with a full bathroom, a cozy fireplace, a sun deck, and multiple storage rooms. The home is situated on over half an acre of meticulously landscaped grounds, showcasing an elegant tropical pool and spa deck, offering a private oasis to relax and unwind. Conveniently located, this home allows for easy access to downtown Clearwater, where you can explore a multitude of shopping, dining, and entertainment options. Additionally, the world-famous Clearwater Beach is just a short five-minute drive away. All measurements provided are approximate, and buyers are encouraged to verify them. Experience the pinnacle of refined living at 403 Magnolia Dr., where timeless elegance and modern comforts seamlessly blend together to create a truly remarkable home. “Rent-to-Buy” option would be considered.