Exceptional investment opportunity on 16.89 acres in Penns Valley featuring multiple residential structures and outstanding flexibility. The historic three-story farmhouse is currently configured as three apartments. Apartment 1 offers 2 bedrooms and 1 bath, Apartment 2 includes 2 bedroom and 1 bath, and Apartment 3 features 2 bedrooms, 1.5 baths, and private in-unit laundry. Apartments 1 and 2 each have dedicated washers and dryers located within a shared laundry area. The farmhouse also presents the potential to be reconfigured into two units or converted back to a single-family residence, subject to any applicable approvals. In addition to the farmhouse, the property includes a separate unfinished custom-built home constructed with insulated concrete form (ICF) walls. Designed with 3 bedrooms, 3 bathrooms, and a one-car integral garage, this impressive residence showcases custom woodwork, built-in cabinetry, stone accents, a suspended staircase, and custom iron railings, offering an exceptional opportunity for a new owner to complete the home to their own specifications. The property also features a large bank barn, a two-story workshop with an overhead garage door, and an additional one-story barn/garage with two overhead doors, providing extensive storage and workspace options. An in-ground pool with pool house and deck is also located on the property and is in need of repair. With multiple residential structures, acreage, and significant flexibility for future use, this is a rare opportunity to own a distinctive property with income-producing potential and room to grow.