Why is this home priced under $500,000 when comparable waterfront homes are $800,000-$1M? Because you own the condominium while leasing the land beneath it. That structure dramatically reduces the purchase price while allowing you to enjoy the same luxury location, ocean views, marina lifestyle, resort amenities, and future waterfront redevelopment.Completely remodeled from top to bottom, this stunning waterfront condo offers breathtaking Cabrillo Marina and Pacific Ocean views in one of San Pedro's most sought-after coastal positions. Every detail has been thoughtfully upgraded — from the open-concept living space with luxury ceramic tile flooring, new LED lighting, and a sleek electric fireplace, to the chef's kitchen featuring 36" quartz countertops, high-end Forno stainless steel appliances, a Midea double convertible refrigerator and dishwasher, built-in drawer microwave, and designer tile backsplash. The home also boasts a new electrical panel, luxury ceiling fans in every room, and fully modernized systems throughout — true turn-key condition inside and out. Three spacious bedrooms each come equipped with large flat-screen TVs, and a private patio delivers unobstructed marina views with the ocean breeze and passing cruise ships as your daily backdrop. Three underground parking spaces and a private storage unit round out the package. Located in the heart of San Pedro's rapidly evolving waterfront district, you're minutes from dining, marina access, and coastal attractions — with the highly anticipated West Harbor LA development, 2028 Summer Olympics waterfront events, FIFA fan experiences, and the US Space Force installation all nearby. Land lease property: the condo is owned while the land is leased, with the option to purchase at fair market value at lease end — allowing buyers to own a spacious, premium coastal home at exceptional value.