Upper-Corner Residential Income
For Sale
$199,500
185 Avenida Majorca, Laguna Woods, CA 92637
Laguna Woods, CA
Property Size770 SF
Price / SF$259.09
Days on Market66
Property Features for 185 Avenida Majorca
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
1
Bathrooms
1
Full bathrooms
1
Rooms
Kitchen, Laundry Room, Bathroom 1, Bedroom 1
Parking
1
Parking features
Carport
Spa
1
Interior features
Balcony
Appliances
Disposal, Electric Water Heater, Refrigerator, Electric Oven, Dishwasher, Electric Cooktop
Lot features
Cul-De-Sac, Close to Clubhouse
View
Hills
Elementary school district
Saddleback Valley Unified
Middle school district
Saddleback Valley Unified
High school district
Saddleback Valley Unified
Directions
Gate 2 off Paseo de Valencia. First left on Avenida Majorca to cul de sac 57.
Subdivision
LW - Laguna Woods
Standard status
Active
Size
770 SF
Taxes and HOA fees
HOA Fee
$827 Monthly
Utilities
Sewer type
Public Sewer
Heating system
Heat Pump (Heating)
Cooling system
Heat Pump
Water source
Public
Amenities
large balcony
dual-pane vinyl windows
shutters
laminate flooring
swimming pools
golf
tennis
bocce ball
lawn bowling
equestrian center
clubhouse
Building Details
Year built
1965
Floors in Building
1
Number of units
8
Flooring type
Laminate
Listing Agency:
PREA Realty, Inc.
(949) 525-8955
Listed By:
Paul Santoro · License #01463389
(949) 525-8955
Added: Jun 19
Changed: Aug 23
Last Checked: Aug 23 at 8:06PM
MLS# OC26135104
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 upper corner unit at Laguna Woods Village includes a kitchen, dining area, entry, bedroom, bathroom, and laundry room. Interior details include dual-pane vinyl windows with shutters, laminate flooring in the kitchen, dining area, and entry, carpet in the bedroom, and vinyl flooring in the bathroom. The residence also features a large balcony, heat-pump heating and cooling, public water and sewer, and a carport. Appliances include a refrigerator, electric oven, electric cooktop, dishwasher, disposal, and electric water heater.
The property is located near Gate 2, with shopping and restaurants nearby. Laguna Woods Village offers more than 250 clubs and organizations, six swimming pools, golf, tennis, bocce ball, lawn bowling, an equestrian center, music, comedy, and other entertainment. The community is close to Laguna Beach.
The property is located near Gate 2, with shopping and restaurants nearby. Laguna Woods Village offers more than 250 clubs and organizations, six swimming pools, golf, tennis, bocce ball, lawn bowling, an equestrian center, music, comedy, and other entertainment. The community is close to Laguna Beach.
Key Highlights
- 770‑square‑foot upper corner unit in Laguna Woods Village
- Large balcony and carport included
- Dual‑pane vinyl windows with shutters
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
7.37%
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 7.37%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$258.6K
$226.3K – $301.7K
NOI $18,104 @ 7.0% cap · market cap 9.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,807
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Upper-level residence with a balcony, carport, updated window treatments, and access to extensive community amenities.
Where is this residential income property located?
The property is located at 185 Avenida Majorca Laguna Woods, CA.
What is the asking price?
The asking price for this property is $199,500.
What are key features of this property?
This property features: 770‑square‑foot upper corner unit in Laguna Woods Village; Large balcony and carport included; Dual‑pane vinyl windows with shutters
