Lakefront "penthouse" townhome with views of the Saddleback mountains! Spectacular panoramic lake views, an attached side-by-side two-car garage, and a highly desirable upper-level floor plan with all bedrooms and main living areas on the top level in one of Rancho Santa Margarita's most sought-after communities. Lakefront views from the primary suite, living room, dining area, kitchen, and balcony. The exceptional waterfront setting creates an atmosphere of serenity that enhances everyday living. Thoughtfully updated throughout, the home features a beautifully renovated contemporary primary shower, newer carpeting, fresh interior paint, upgraded lighting, a smart entry lock, Milgard windows, and a double-pane sliding glass door. The open-concept kitchen flows seamlessly into the dining and living areas, with balcony beyond. Tenants enjoy a huge recently renovated pool, along with SAMLARC amenities including the Beach Club Lagoon, multiple pools, parks, playgrounds, sports courts, fishing, scenic walking paths, community events, summer concerts, and holiday celebrations. This highly walkable home is located near shopping, dining, parks, and trails, with cinema, fast food and DIY stores close by. Minutes from the toll road for an easy commute into central and north Orange County.