A rare opportunity to create something truly special in the heart of Fairfax. Set on nearly 1.9 private acres with NO HOA, this stately home offers an exceptional combination of space, privacy, character and potential. Offering approximately 2,850 finished square feet above grade, the home features 3 bedrooms, 2.5 baths, generous living spaces, including a highly desirable MAIN-LEVEL PRIMARY SUITE with an oversized private en-suite bath and its own private deck overlooking the property. An approximately 1,850-square-foot unfinished full walkout basement offers tremendous potential for additional living space bringing the home to approximately 4,700 SQUARE FEET OF TOTAL FINISHED SPACE. The basement also includes a rough-in for an additional full bathroom, making a future lower-level transformation even easier to envision. An expansive wraparound-style covered porch extends across much of the home, creating incredible outdoor living space and giving the property timeless character, all surrounded by mature trees and a beautiful open yard. The possibilities continue above the garage, where additional space with its own existing HVAC system and a second roughed-in full bathroom (for a total of 4.5 bathrooms) offers exciting potential for a future home office, studio, hobby space, guest retreat or other use. Adding even more value, several of the home's major systems have already been updated, with the ROOF, HVAC and WATER HEATER all replaced within approximately the last five years, allowing the next owner to focus their vision on making the home's finishes and spaces their own. Outside, the setting is increasingly difficult to find in Fairfax. Nearly 1.9 acres provide the best of both worlds - an expansive open yard with plenty of usable space complemented by a wooded backdrop offering privacy and a peaceful sense of separation. Enjoy the property from the extensive covered porch that wraps around almost the entire house, retreat to the primary suite's private deck, and imagine creating your own outdoor oasis. All with NO HOA. Offered AS-IS, this is an opportunity to renovate, reimagine and unlock the tremendous potential already built into the property. With substantial existing living space, a main-level primary suite, an expansive walkout lower level, two additional full-bath rough-ins already included in the Fairfax County tax records, additional space above the garage, newer major systems, nearly two private acres and exceptional outdoor living areas, 4738 Holly Avenue has the space, setting and versatility to become something truly extraordinary. Schedule your showing ASAP and make this rare gem yours today!