32742 Alipaz ST #133 San Juan Capistrano, CA 92675

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. The community has purchased the rights to the community in full, until 2069. Only association related fee is a HOA of $224/month. Home can produce an 8.8% gross 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.