I can’t tell you how often I get calls from dreamers wanting to live in an ocean front condo on a normal budget. Most of the time they are pie in the sky ideas that never work out. In southern California you cant touch this type of product for under a million dollars. But I have to tell you, there are still some incredible opportunities available thanks to the Mills Act. And I have found an incredible deal in the Orange County/LA area that will blow your socks off.
What if I told you that I have a Gorgeous historic building on the sand. Condo units were only selling for $300k to $400k, you only had to pay 40% of the normal tax bill and all utilities were included in the normal association fee including cable TV. Plus you can walk out your back door onto an awesome sandy beach. Sounds too good to be true right. Well it gets even better. There is a beautiful lobby, and you will have a spectacular city lights view from your unit. All for less than you would pay for your average drywall 2 by 4 box in the burbs. No its not in Mexico. Its here in the Orange County/LA area.
Well you don’t have to dream anymore because I have your deal. This must be the best kept secret ever and I am going down to buy one of my own. Give me a call and I will reserve one for you also.
Just so you know this is for real, check out this information on the Mills act. The Mills act is a little know piece of California legislation administered by local cities. Owners of designated historic buildings can make a 10 year automatically renewable contract with the city to apply for 40% to 60% tax savings. In exchange they must go through an extra approval process when applying for permits from the city to do improvements on the property. The city will insure that the improvements will preserve the historic nature of the building. While it might be a little extra hassle, I think it is well worth it for the thousands of dollars in tax savings, and in the end, doesn’t everybody want to preserve the original beauty of these magnificent buildings?
Well what are you waiting for? Get on the phone now. In 9 years in the business, I have never seen an ocean front deal this good. When the buildings renovations are done, I expect the prices to be a lot higher.
