IDEAL FOR 1031 EXCHANGE PROPERTY, a Mendocino village coastal mixed use property. A beautiful newly constructed home with separate building that generates substantial income. This mixed-use compound (3 separate buildings - 2 bed/2 bath residence; studio; and 3-unit mixed-use) introduces the first residential home to be built in the Village in the last 15 years. This Italianate-Victorian home, inspired by the mid 1800's San Francisco architecture, captures the essence of a bygone era while at the same time, offering all the contemporary amenities and energy efficiency of new construction, including solar. The four-year building process, completed in 2023, showcases the vision of the owners to build a magnificent compound that seamlessly integrates into the historic village. Pass through the gate in the white picket fencing and walk along the brick pathways that wind through the property connecting each of its three structures. Included in the compound are: the 'Red House', a two-story mixed-use building, constructed in 2005, that duplicates the original 1864 structure (fully-leased with $93,120 annual income. Edward Jones Office, Whale Spout Studio, Grey Whale Lookout 2-bed, 1-bath apartment); the 'Mustard Studio,' constructed from the base of an old water tower built in 1884 and fully remodeled into a studio with a bath; and the newest addition, the 'White House', a pristine 2-bed, 2-bath residence with a snow-white painted exterior and black tuxedo-style trim windows. The exterior of the main house was built from carefully selected, kiln-dried redwood to weather the north coast climate. This grand home offers intricate exterior and interior detailing, from the 18 ornate, vertically-tiered 6' x 3' windows and moldings, to hand-carved exterior corbels and a grand staircase leading up to the master suite where you'll find a serene retreat with Mendocino village and bay views, a spa-like bathroom with heated floors and a view overlooking the gardens out front. Upon entry, 10' high ceilings draw you into the home. Beautiful white woodwork throughout, schoolhouse lights, thoughtful positioning of gallery lighting for personal art, beautiful solid, wide bleached and weathered oak plank flooring, and a downstairs secondary master ensuite with beautiful marble heated floors. The spacious, open floorplan seamlessly blends indoor and outdoor living with a grand, living area and views to the bay.