Ground-Level Senior Housing
For Sale
Under Contract
$235,000
185 Avenida Majorca, Laguna Woods, CA 92637
Laguna Woods, CA
Property Size770 SF
Price / SF$305.19
Days on Market56
Property Features for 185 Avenida Majorca
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
1
Bathrooms
1
Full bathrooms
1
Rooms
Bedroom 1, Kitchen, Bathroom 1, Laundry Room
Parking
1
Parking features
Carport
Spa
1
Window features
Blinds, Screens
Patio and Porch features
Porch
Appliances
Water Heater, Disposal, Microwave, Refrigerator, Range Hood, Electric Range, Electric Oven
Subdivision
Leisure World (LW)
Lot features
Corner Lot
Elementary school district
Saddleback Valley Unified
Middle school district
Saddleback Valley Unified
High school district
Saddleback Valley Unified
Directions
Entry Gate 2 , Left on Majorca to 185 #D
Standard status
Active Under Contract
APN
11111111
Size
770 SF
Taxes and HOA fees
HOA Fee
$1,021 Monthly
Utilities
Utilities
Electricity Available
Sewer type
Public Sewer
Heating system
Electric (Heating), Radiant
Cooling system
Electric, Window Unit(s), Wall/Window Unit(s)
Water source
Public
Amenities
250 clubs and organizations
27 holes of golf
diving range
golf club
restaurant and bar
tennis courts and club
paddle tennis
equestrian facilities and riding trails
garden center
RV parking
7 clubhouses
5 pools
spas
bocce ball
billiards
3 gyms
ballrooms
performing arts center
free bus system
Building Details
Year built
1965
Floors in Building
1
Number of units
1
Building materials
Block
Architectural style
Other
Listing Agency:
HomeSmart, Evergreen Realty
(949) 753-7888
Listed By:
Paris Bolandian · License #01319795
(949) 371-3771
Added: Jul 20
Changed: Sep 13
Last Checked: Sep 13 at 9:06AM
MLS# OC26159145
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 770-square-foot Cadiz model residence is an end-unit, ground-level home with no stairs. Recent interior updates include laminate flooring and designer paint, while the layout provides a kitchen, bedroom, bathroom, and laundry room. A patio extends the living area outdoors, and the residence includes a carport. Construction is block, with radiant electric heating and electric cooling through wall or window units.
Located within Laguna Woods Village at 185 Avenida Majorca, the home is near Aliso Creek and surrounding greenbelt areas. Community amenities include 27 holes of golf, tennis and paddle tennis facilities, equestrian facilities, garden areas, multiple clubhouses, pools, spas, fitness centers, dining, and a performing arts center. A community bus system serves internal destinations as well as local shopping and medical offices. Laguna Beach is 7 miles away, and John Wayne Airport is less than 13 miles from the property.
Located within Laguna Woods Village at 185 Avenida Majorca, the home is near Aliso Creek and surrounding greenbelt areas. Community amenities include 27 holes of golf, tennis and paddle tennis facilities, equestrian facilities, garden areas, multiple clubhouses, pools, spas, fitness centers, dining, and a performing arts center. A community bus system serves internal destinations as well as local shopping and medical offices. Laguna Beach is 7 miles away, and John Wayne Airport is less than 13 miles from the property.
Key Highlights
- 770‑square‑foot ground‑level Cadiz model end residence
- No‑stair layout with bedroom, bathroom, kitchen, and laundry room
- Laminate flooring, designer paint, and private patio
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
$14,697
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
6.25%
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%
$293,940
$293.9K
Cap Rate 7%
$209,957
$210.0K
Cap Rate 9%
$163,300
$163.3K
Market Conditions
NOI Build-Up for 770 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
$27.7K $36.00/SF
− Vacancy
−$998 −$1.30/SF
EGI
$26.7K $34.70/SF
− OpEx
−$12.0K −$15.62/SF
NOI
$14.7K $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%
$293,940
Cap Rate 7%
$209,957
Cap Rate 9%
$163,300
Alternative Uses
Best Use
Apartment 5plus
$210.0K
$183.7K – $245.0K
NOI $14,697 @ 7.0% cap · market cap 6.25%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$258.6K
$226.3K – $301.7K
NOI $18,104 @ 7.0% cap · market cap 7.70%
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
1,807
Businesses Nearby
Balanced
Demand for This Use
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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Cap Rate, Value Estimation, Potential NOI and more
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Frequently Asked Questions
What type of property is this?
Senior housing / Retirement Home - Cadiz model end residence with fresh laminate flooring, designer paint, and a private patio in Laguna Woods Village.
Where is this senior housing / retirement home located?
The property is located at 185 Avenida Majorca Laguna Woods, CA.
What is the asking price?
The asking price for this property is $235,000.
What are key features of this property?
This property features: 770‑square‑foot ground‑level Cadiz model end residence; No‑stair layout with bedroom, bathroom, kitchen, and laundry room; Laminate flooring, designer paint, and private patio
