23551 Avenida La Caza #129 Open House Save Request In-Person Tour Request Virtual Tour
Coto De Caza,CA 92679
OPEN HOUSE
Sun Jul 20, 2:00pm - 4:00pm
Key Details
Property Type Multi-Family
Sub Type All Other Attached
Listing Status Active
Purchase Type For Sale
Square Footage 1,780 sqft
Price per Sqft $558
MLS Listing ID OC25156803
Style Cape Cod,Cottage,Craftsman/Bungalow,Traditional
Bedrooms 3
Full Baths 3
HOA Fees $465/mo
Year Built 1977
Property Sub-Type All Other Attached
Property 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 timefrom 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
Location
State CA
County Orange
Community Horse Trails
Interior
Heating Energy Star,Zoned Areas
Cooling Electric,Energy Star,Zoned Area(s)
Flooring Carpet,Laminate
Fireplaces Type FP in Family Room,Propane
Exterior
Parking Features Assigned,Garage,Garage - Single Door,Garage Door Opener
Garage Spaces 2.0
Pool Association
Utilities Available Cable Available,Cable Connected,Electricity Connected,Sewer Connected,Water Connected
Amenities Available Controlled Access,Guard,Jogging Track,Pool,Security
View Y/N Yes
View City Lights,Courtyard,Pool
Roof Type Composition,Shingle
Building
Story 2
Sewer Sewer Paid
Water Public
Others
Special Listing Condition Standard