Welcome to a one-of-a-kind historic commercial property at 22 W Main Street in Lone, CA. This rare prime investment opportunity has excellent cap rate growth potential with two additional unfinished units. Located in the heart of historic Ione, home of the iconic Preston Castle, this charming property offers a unique blend of residential and commercial income potential. It is a rare investment opportunity just steps from popular restaurants, shopping, and the iconic Preston Castle. Features include: A one-bedroom apartment, successfully operated as a temporary vacation rental with consistent bookings. A studio apartment, also frequently rented as a temporary vacation rental. A beautifully updated two-bedroom apartment, nearly complete and awaiting final permits. A convertible storage space, ideal for transforming into another rentable studio. The commercial portion of the building is leased by a long-term tenant that recently renewed their 5-year lease, providing stable and reliable income. A welcoming lobby, beautiful patio, and 15 private parking spaces. With its prime location in the heart of Ione and a solid mix of commercial and residential spaces, this property presents an attractive investment opportunity. Ideal for investors seeking a combination of historic charm, stability, and long-term profitability.