Just reduced to under $500K! This fabulous residence, at approx. 1,000 feet above sea level, overlooks both the Pacific Ocean and Ensenada Bay. It is located in the private, gated community of Puerto Escondido. This amazing property beckons you in and invites you to stay. The first thing you notice is the immense size of the front gardens and patios overlooking the Bay and City of Ensenada. With a nighttime fire in the patio fireplace, you will enjoy the twinkling city lights. This is but one of the home's entertainment areas. The back of the home overlooks unobstructed views of the Pacific Ocean and coastline. On this side, there is a hot tub with a waterfall flowing into a beautiful Pebbletec pool. This is a second entertainment area...poolside with a spectacular one-of-a-kind view. Below the house, there is a private sandy beach which can be accessed by 4-wheel drive or hiking shoes. Many hiking trails surround the area, as well as a nearby boat launch for kayaks, etc. The home was completely rebuilt in 2007. The main house has an open floor plan connecting 3 large living/dining rooms and kitchen, which make up the third entertainment area. There are two master suites, plus one bedroom currently used as an office and 2.5 bathrooms. Most of the rooms have a water view. A laundry/storage room sits just outside the side door. The separate casita, with potential for long-term or short- term rental income, has a living area, bedroom, kitchenette, and bathroom. Inside the main home is an entertainment wall with a gas fireplace. Outside are two wood-burning fireplaces. Twenty solar panels have greatly reduced electrical costs. The home of approx 3,000 sq ft sits on a lot of approx. 20,000 sq ft. The lot is private land with taxes of less than $100 per year. Residents chip in about $100 monthly to cover 24/7 security guards and road maintenance. The two-car garage has 2 built-in workbenches and ample shelving for storage. It also holds a 500-gallon drinking water tank which supplies potable water to 4 sinks in the home as well as the refrigerator ice water dispenser and ice maker, and the dishwasher.