32742 Alipaz Street Unit: 133

8.8% CAP RATE NON-CONFORMING DUPLEX || Among the rarest opportunities in the sought after community of Rancho Del Avion, this fully redesigned two-unit Mid-Century Modern home is a special offering. Featuring a completely redesigned 2 bedroom 1 bath front unit (approx. 1,326 SF) with smooth drywall, white-oak hardwood floors, fully custom flat panel Walnut kitchen, Thermador 4 burner gas range, recessed lighting, and brand new vinyl windows and slider door. Rear unit is approximately 285 SF and contains a full-size kitchen with standard appliances, brand new countertop and kitchen cabinets, subway tile backsplash, and a very generous ensuite bathroom with ample storage. Private yard area for the studio as well. Main home yard space with elevated deck and grass area is enclosed by the newly installed Mid-Century style Teak wood fence and the generous sized parcel is studded with over 15 fruit trees and raised vegetable beds. Rear unit is currently a home office yet rents for $1,500/month and the front home can rent for $3,000/month. Community IS NOT on leased land. We have purchased the rights to the community in full, until 2069. Only monthly association related fee is an HOA of $224/month. Home can produce an 8.8% cap rate if fully rented yet has only been used as a primary residence. Both units can be converted back to the original 3 bedroom 2 bathroom home very easily.