Discover the delightful Walnut Street Guest House with a short term rental permit, affectionately known as "The Pink Palace." This unique pink brick Mid-Century modern home was built in 1956 and is situated on a large .40 acre corner lot, adorned with a magnificent oak tree. The house is 1602 sqft with 3 bedrooms and 2 baths and is operating as a short term rental property with a transferable permit. This trending neighborhood was originally developed with a surge of homes in the 1950s, just up the street from the HEB and the historic Old Peanut Factory. The owners have meticulously updated and maintained the home blending modern conveniences with its original 1950s charm - new tile, granite countertops, updated lighting, updated bathrooms and new water lines throughout and stainless steel appliances in the kitchen. The house has a perfect flow where the kitchen, dedicated dining area, laundry and lovely outdoor back patio are all on the west side and the bedrooms are on the east side. There is abundant off-street parking and you are just blocks away from vibrant downtown Fredericksburg that offers shopping, restaurants, wine tasting rooms, The Nimitz & Pacific War Museums, and Marktplatz. Additionally daily conveniences such as Methodist hospital, HEB shopping, both private & public schools and local amenities including the Fredericksburg Racquet Centre - 10 acre site with 8 tennis courts, 8 pickle ball courts and walking trails (phase one completion in May 2027) are all easily accessible.