2222 S Mesa St 22, San Pedro, CA 90731

Property Description

PLEASE READ. Enjoy resort style living, on the water, with an ocean view, in a fully renovated home. This is a stunning home with beautiful ocean view in a premium location. This is an opportunity for someone to own a home, at a great price, with a large tax incentive attached. Enjoy your space and serenity with 2 extra-large bedrooms, 3 full bathrooms, 3 full-size storage units, a complete stainless appliance package, in unit and full-size washer and dryer hook ups, dual balconies, wide open floorplan, fireplace, and incredible marina and mountain views. This condo sits on a long-term ground lease; which has major upside when it comes to qualifying for the home purchase and large yearly tax write off. The total monthly payment for HOA + Ground lease is $1,560 per month (in addition to the sales price, yes; but the sales price is very low and offsets the property taxes creating a more favorable tax deduction than paying property taxes) and expires in 2050. Lease land payments are tax deductible per IRS code (IRS tax code 1055 Redeemable ground rent), consult your CPA. Premium. Walking distance to Cabrillo Beach Yacht Club and the Marina. Dual balconies, each with walk-in storage. Two side by side parking spaces and in garage storage unit included. Onsite fitness center, pool, and jacuzzi. This is resort style living.