The condo in Rancho Palos Verdes, Calif., has three bedrooms, three bathrooms and sweeping ocean views. It can be yours for just under $2.6 million.
There’s one catch: If you buy it, you will be able to use it for only 60 days a year and no more than 29 days in a row.
The California Coastal Commission, an agency founded in 1972, wants to ensure public access to the state’s 1,100 miles of shoreline. So when Lowe Enterprises requested permission to build 50 condominiums, which the company calls casitas, in an oceanfront resort called Terranea in this lush section of southwest Los Angeles County, the commission demanded restrictions. The idea was to keep owners from monopolizing access to the ocean.
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