Huntington Beach Condos Under $400,000 with No Land Lease
Posted by Sam Smith Team on Wednesday, August 8th, 2018 at 3:25pm.
We are currently working with a client who is looking for condo under the $400,000 but has specifically said she doesn't want the condo to be under a land lease. A land lease is basically when a person or entity buys a parcel of land and then leases the land to another party for a period of time. Often times condos buildings and complete neighborhoods are built on this land but the residents never own the land and also have to pay a monthly fee to the owner of the land. Sounds like a pretty good deal for the owner of the land. It also can be a more affordable option for buyers looking to find a place to live as these types of properties are typically priced below other comparable buildings that are not on lease land. The fear of the land owner not renewing the lease makes a lot of buyers and lenders a little nervous.
Currently, there are several condo buildings that don't have any land lease and include "Villa Warner" condos located at 6600 Warner Avenue in Huntington Beach. There is one condo listed for sale at $349,000 and features 1 bedroom, 1 bath with 754 square feet. "Huntington Gardens" located off Beach Blvd is another popular spot to look for condos with no land lease. Currently there is a 2 bedroom, 1 bath condo listed at $372,900 with low homeowners association dues of $280.00 a month. The "Cabo Del Mar" condo community is another option that has no land lease and features a 1 bedroom, 1 bath condo listed at $395,000. The final place to look in the Seabridge community near the downtown area. This is a gated community that features 2 condos listed at $400,000 in the "Seabridge Villas" neighborhood. This complex is gated and offers a lot of association amenities with dues at approximately $365.00 a month.
Places that DO have a land lease include Harbour Vista, Huntington West and the Gables community. If you don't want to own a condo with a land lease then we don't recommend these communities. We have gathered all of the condos that do not have a land lease below here. If you are not sure about a particular condo please give us a call at 949-482-1313 and we will check on that for you.
