2222 S Mesa Street #24
San Pedro, CA 90731
$ 320,000
Price
2
Beds
3
Baths
1,736 Sq. Ft.
$184 / Sq. Ft.
28 Days On Market
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Experience resort-style living in this spacious, updated condo with over 1,736 square feet of living space, stunning ocean views, and a premium location. This rare opportunity combines comfort, affordability, and significant tax advantages, making it a standout value in the South Bay. The home features two large bedrooms, three full bathrooms, a wide-open floor plan, dual balconies with walk-in storage, a cozy fireplace, and well-placed skylights for abundant natural light. The well-equipped kitchen overlooks the community pool, and washer/dryer hookups are conveniently located in the hallway. Included are three full-sized storage units and two side-by-side parking spaces. Resort-style amenities include an onsite fitness center, pool, and jacuzzi. What sets this condo apart is its long-term ground lease (expiring in 2050), which translates into a significantly lower purchase price. The total monthly HOA and ground lease payment is $1,896.72, offering a financial advantage when compared to a traditional property purchase. Here’s the breakdown: If you were to purchase a $560,000 condo with a comparable HOA ($483/month), your mortgage and property tax payments would result in a similar monthly cost—but you simply won’t find this much living space, ocean views, and proximity to world-class developments anywhere else in the South Bay. Add in the tax-deductible benefits of the ground lease under IRS code 1055, and the value becomes even clearer. Consult your CPA for details. Located within walking distance to Cabrillo Beach Yacht Club, the Marina, Cabrillo Beach, and Crafted, this home is also positioned near the exciting upcoming West Harbor development. Don’t miss your chance to own this incredible waterfront property. With unmatched space, location, and financial benefits, it’s truly a one-of-a-kind opportunity. Schedule your private showing today.
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