TWO FOR THE PRICE OF ONE! This property is equal parts investment and enjoyment. Welcome to 412 California Avenue--a rare opportunity in the heart of Mexico Beach offering two completely separate living spaces under one roof. Whether you're looking for a primary residence with rental income, a beach retreat for extended family, or an investment property with short or long-term rental potential, this one checks all the boxes. A local vacation rental management company conservatively estimates average annual gross rental income at approximately $15,000 for the combined units. On the long-term rental market, each unit can command approximately $1,400/month. Located in desirable Flood Zone X--where flood insurance is not typically required by lenders--this home features a fully equipped upper residence with an open-concept living area, kitchen, spacious bedroom, full bath and soaring wood-accented ceilings that create a warm coastal retreat. The lower level is completely independent with its own private entrance, kitchenette, living area, bedroom and full bath, making it ideal for guests, multi-generational living or generating rental income while maintaining privacy for everyone. Outside, the Mexico Beach lifestyle truly comes to life. Start your mornings with coffee on the expansive upper deck, spend afternoons relaxing beneath the covered patio, and enjoy the beautifully landscaped yard filled with mature palms and plenty of room to entertain. The detached shed/workshop provides exceptional storage for beach gear, fishing equipment and all the toys that come with living at the beach. Best of all, you're just a short golf cart ride or bike ride from Mexico Beach's sugar-white sand, Gulf waters, locally owned restaurants, marina, parks and unforgettable sunsets. Being sold mostly furnished, this is a turnkey opportunity to begin enjoying the Forgotten Coast lifestyle from day one--whether you're moving in full-time, creating a family beach getaway or adding a versatile income-producing property to your portfolio.