Perched atop a hill overlooking the Toms River in sought-after Island Heights, this remarkable waterfront residence dates to 1893 and originally served as the carriage house to 236 Ocean Ave. Thoughtfully renovated and meticulously maintained, this home beautifully preserves its historic character while seamlessly incorporating modern comforts. Wide-plank wood floors extend throughout, while soaring 11½-foot ceilings on the first floor create an extraordinary sense of openness and light. The living room is anchored by a brick-front gas fireplace, and expansive windows capture breathtaking river views while filling the home with natural light. A window-lined rear sun porch provides a serene retreat for enjoying the waterfront in every season. Offering 3 bedrooms and 2.5 baths, the home includes a spacious primary suite with a private en suite bath and walk-in closet. All upstairs closets are cedar-lined, adding warmth and timeless appeal. The home also features upgraded heavy duty pull-down attic stairs providing sturdy and convenient access to additional storage. Downstairs you will find a high-ceiling basement that offers exceptional utility and storage, complete with a laundry area and door for direct access to the backyard. Many of the home's major systems and larger-ticket improvements have been updated, and a Kohler generator provides added confidence and convenience. Lush gardens and mature trees create a vibrant landscape both front and back, while three distinct terraced levels lead down toward the beach at the river's edge. With an impressive 800-foot riparian grant and the potential to add a dock, the property offers endless possibilities -- whether envisioning a private waterfront retreat, a boater's paradise, or an exceptional setting for entertaining and outdoor living along the river.