Two-Bedroom Residential Income
New
For Sale
$364,900
1 Via Castilla, Laguna Woods, CA 92637
Laguna Woods, CA
Property Size1,040 SF
Lot Size0.02 Acres
Price / SF$350.87
Days on Market7
Property Features for 1 Via Castilla
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bedroom 2, Laundry Room, Bathroom 1, Bedroom 1, Kitchen
Parking features
Covered
Spa
1
Interior features
Balcony, Living Room Balcony, Ceiling Fan(s), Open Floorplan
Fireplace
1
Appliances
Ice Maker, Water Line to Refrigerator, Dishwasher, Electric Cooktop
Subdivision
Leisure World (LW)
Elementary school district
Saddleback Valley Unified
Middle school district
Saddleback Valley Unified
High school district
Saddleback Valley Unified
Directions
El Toro Road and Avenida Sevilla
Standard status
Active
Size
1,040 SF
Lot size
0.02 Acres
Taxes and HOA fees
HOA Fee
$1,145 Monthly
Utilities
Heating system
Central
Cooling system
Wall/Window Unit(s), Window Unit(s)
Water source
Public
Amenities
golf courses
swimming pools
hot pools
clubhouses
fitness centers
tennis and pickleball courts
equestrian center
performing arts theater
arts and crafts studios
walking trails
garden centers
library
continuing education classes
Building Details
Year built
1966
Floors in Building
1
Number of units
4
Flooring type
Vinyl
Building materials
Stucco
Architectural style
Other
Listing Agency:
RE/MAX Select One · RE/MAX International
(714) 846-3800
Listed By:
Tracy Belding · License #01269117
(714) 785-3133
Added: Sep 21
Changed: Sep 27
Last Checked: Sep 27 at 4:06PM
MLS# OC26207142
Copyright © 2026 California Regional Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,040-square-foot, upper-level Majorca residence has two bedrooms and two bathrooms. The kitchen and bathrooms have been remodeled, and the interior includes an open floor plan, a balcony, vinyl flooring, central heating, and window-unit cooling. The home was built in 1966 and has covered parking, a fireplace, and a laundry room.
The residence is within Laguna Woods Village, a gated community for residents age 55 and older. Community amenities include two golf courses totaling 36 holes, five swimming pools, four hot pools, seven clubhouses, fitness centers, tennis and pickleball courts, an equestrian center, and a performing arts theater. Community transportation serves shopping, dining, medical facilities, and other nearby destinations.
The residence is within Laguna Woods Village, a gated community for residents age 55 and older. Community amenities include two golf courses totaling 36 holes, five swimming pools, four hot pools, seven clubhouses, fitness centers, tennis and pickleball courts, an equestrian center, and a performing arts theater. Community transportation serves shopping, dining, medical facilities, and other nearby destinations.
Key Highlights
- Two‑bedroom, two‑bath Majorca residence with 1,040 square feet
- Upper‑level layout with a balcony and open floor plan
- Remodeled kitchen and bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$19,851
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.44%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$397,020
$397.0K
Cap Rate 7%
$283,586
$283.6K
Cap Rate 9%
$220,567
$220.6K
Market Conditions
NOI Build-Up for 1,040 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$37.4K $36.00/SF
− Vacancy
−$1.3K −$1.30/SF
EGI
$36.1K $34.70/SF
− OpEx
−$16.2K −$15.62/SF
NOI
$19.9K $19.09/SF
Area
Orange County, CA
Vacancy
3.60%
Lease Rate
$36.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$397,020
Cap Rate 7%
$283,586
Cap Rate 9%
$220,567
Alternative Uses
Best Use
Apartment 5plus
$283.6K
$248.1K – $330.9K
NOI $19,851 @ 7.0% cap · market cap 5.44%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$349.3K
$305.7K – $407.5K
NOI $24,452 @ 7.0% cap · market cap 6.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,878
Businesses Nearby
Explore this area
Business Placement
Demographics for 92637, CA
17,644
Population
13,494
Households
1.3
Avg Household Size
75
Median Age
52%
College-Educated
97%
High-School Grad
3.0 sq mi
ZIP Area
5,881
Density / Sq Mi
$60,235
Median Household Income
$40,375
Median Earnings
$2,232
Median Rent
$364,900
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Upper-level residence with updated kitchen and bathrooms in a gated 55+ community.
Where is this residential income property located?
The property is located at 1 Via Castilla Laguna Woods, CA.
What is the asking price?
The asking price for this property is $364,900.
What are key features of this property?
This property features: Two‑bedroom, two‑bath Majorca residence with 1,040 square feet; Upper‑level layout with a balcony and open floor plan; Remodeled kitchen and bathrooms
