23551 Avenida La Caza #129
Coto de Caza, CA 92679
1780 sqft | 3 beds | 3 baths | 2.87 acres | #OC25156803
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Description
Unmatched Rental Income Potential & Legal Flexibility. Unveiling a Unique Investment: A Triplex Opportunity in Coto de Caza.
This distinctive property features three individual apartments, each with its own private entry.
Beyond the inherent income potential, this property offers a significant advantage for new buyer.
California Regulation §4739 explicitly prohibits Homeowners Associations (HOAs) from restricting the length of tenancy (whole or partial) if the homeowner resides on the property for more than 30 days. This means if you choose to occupy one of the three units, you can legally rent out the remaining two for any length of time—from short-term (1-day) to long-term (365-day) leases. While an HOA might initially have a different opinion, state law supersedes municipal ordinances or HOA rules in this regard. This flexibility opens the door to potentially adding up to twelve grand monthly to your budget. Please note that this specific California regulation does not apply if all three units are rented out. All other HOA rules and regulations, such as those concerning parking, pool usage, and noise, remain in effect.
A Rich History: From Olympic Housing to Modern Townhomes.
Built as "Vic Braden's Tennis College" to house US athletes training for the 1980' Moscow Olympics.
Following the US boycott of the Olympics, these units were converted to condominiums in the fall of that year.
The "Villa Serena Townhomes" corporation then oversaw the sale of each set of three units, converting them into the unique townhome configuration seen today. This was the only viable method to zone and sell this type of real estate at the time. The Orange County Assessor's office records the property as an SFR Townhome with a 3 Bedroom/3 Bath dwelling designation.
Property Features & Layout.
The property is serviced by one water meter and one electrical meter for all three units. Parking is ample, featuring a longer-than-normal attached (non-direct access) garage with an in-garage washer/dryer hookup, providing space for two vehicles. Additionally, two approved and legally guaranteed tandem parking spaces are available directly outside the garage in the driveway.
Please see the rest of detailed description in "PRIVATE REMARKS"
Property Details
- InteriorBeamedCeilings, WetBar, BreakfastBar, Balcony, CathedralCeilings, GraniteCounters, HighCeilings, LivingRoomDeckAttached, OpenFloorplan, P
- Utility FeaturesCableAvailable, CableConnected, ElectricityConnected, SewerConnected, WaterConnected
- Lot DescriptionTwoToFiveUnitsAcre, Landscaped
- FoundationConcretePerimeter, Permanent
- ViewCityLights, Courtyard, Pool
- School DistrictCapistrano Unified
- Sewer InformationSewerTapPaid
- MLS #OC25156803
- MLS #OC25156803
- Property TypePurchase
- Original List Price$995,000
- SubdivisionVillage
- Property SubtypeTriplex
- Structure TypeTriplex
- Acres2.8693
- Utility SourcePublic
- High SchoolTesoro
- CountyOrange
- Cost995000
- Square Feet1780
- Year Built1977
- Hoa Fees465
- Bedrooms3
- Bathrooms3
- Full Baths3
- Stories2
- Parking Spaces2
Location
Legal
The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. as of the most recent time synced and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
Last Updated:Â . Source: CRMLS
Listing Courtesy
Listing Agent: Devan Bond (#SBONDDEV)
Listing Office: Premier Agent Network (#J01824)
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