Welcome to 40 Celosia, a charming 1 Bed + Loft | 1 Bath condo situated in an ideal location directly across the street from the beautiful Rancho Santa Margarita lake! Head up the stairs to the 2nd story where you are greeted by a vaulted wood beam ceiling and open-concept living space. The kitchen boasts stainless steel appliances and white shaker cabinets. The family room features a fireplace and a spacious patio overlooking the lake. The master bedroom is also on the main floor and offers access to the balcony with lake views. The en-suite features two glass mirrored closets and dual vanities. Upstairs, you will find a spacious loft that can be used as a second bedroom, office or exercise room. Additional features include 1 car garage plus one covered parking spot, ceiling fans in the bedroom, loft and family room. Amenities include a community pool/spa, BBQ grill, and access to four SAMLARC pools and RSM's Beach Club Lagoon. Walking distance to O'Neil Regional Park, shopping centers and numerous lakeside restaurants, don't miss the opportunity to see all this condo has to offer!