With real estate prices increasing in the beach communities it's getting much harder to find condos for under $400,000 in Dana Point, California. There are still some viable good options available in this price point for 4 condo communities that we can recommend. It seems like it was only a couple of years ago that many of these same condos were priced in the $300,000 range, a true showing of the appreciation values here in Orange County. Here is our guide to condos in this price range.
The very first place I always recommend when I learn someone is looking for a property under $500,000 is the Ritz Pointe gated community. It's really hard to get much better in this price point with several amenities that make it more desirable then the rest on this list. First, the location is among the best as it's located adjacent to the upscale Monarch Beach Resort and a short distance to the Ritz Carlton Hotel. It's offers a walking path that leads directly down to the beach, a trip I have done on multiple occasions. Second, the condos are located behind a 24 hour guard gate. How do they pull this off for a condo community? Well, they share the grounds with larger and detached single family homes that sit next to the golf course which fits a good portion of the cost to maintain a guard gate.
These homes are much more expensive and typically range well above the $1 million dollar price point. The condos are called "Monarch Hills Condos" and a simple search online will pull up all the condos available here. The biggest cons would be the number of units located here. The condos are stacked on top of each other and some condos can be on the dark side. My recommendtion is to look for either corner or top floor units that get the maximum amount of light. Another con is the parking situation. Some condos will come with a one car detached garage but this is not the norm. Most of the condos will have assigned carport parking which is not the most ideal for a lot of clients. The last con would be that there are a lot of renters who lease here so be prepared for this kind of dynamic.
Dana Light is probably the second community I would recommend in this price point. This is a manual gated community (no guard gate) with a large variety of condos. It's located near the Dana Point High School which is a very popular area with residential homes and condos. Dana Light tends to be a little more expensive than $500,000 but we still see condos listed in the high $400,000 range. The pros for living here is that it tends to be a very quiet community that offers plenty of open space with tennis courts and children play area. Some of the condos will also offer nice ocean views but expect these condos to be priced much higher than $500,000. The cons would be that it's possible to hear some road noise from the street down below on some condos located here. If you can find something in the $400,000 range I would encourage you to put this on your list to view.
Lantern Hill is also a manual gated community located very close to Dana Light. This is a very small community that features Cape Cod architectural style properties that surround a community pool. Similar to Dana Light, it's hard to find many properties here in the $400,000 range. There is currently a one bedroom that is on the market for $454,000 that features 842 square feet of living space. Expect to find two bedrooms condos located here above the $500,000 price point. The biggest pro's of this community would be the prime location near the high school, the gated entrance and the association pool amenities. The biggest cons would be the noise issue from the street below that can be heard from select units here. Overall, this is a nice complex to consider.
Finally, the Harbor Walk community is the most affordable option in Dana Point with many condos priced in the low $400,000 range. The location is situated near the 5 freeway and the PCH exit. Every time I have been there it's been relatively quiet so I can't say that noise is a big issue here. The complex has a small community pool that looks nice and ideal for kids during the summer months. The biggest pros would be the price considering the close proximity to Doheny Beach. The biggest cons would be the location since it tends to be on the dark side as it backs to a hillside and is covered by a lot of trees which only allows a small amount of sunlight. The condos also tend to located close to each other which may not be ideal for some buyers. It's also important to note that since they condos are some of the lowest priced condos in Dana Point that many real estate investors buy these condos to rent out as well. Overall, it's hard to go wrong with any of the condos listed above, it basically comes down to the kind of lifestyle and location you want to live in. For those moving to Dana Point and interested in getting more information on any of these options please contact any of our skilled Dana Point Real Estate agents at 949-606-4114 today.