Apartment Building Home with Covered
For Sale
$339,000
2104 Ronda Granada, Laguna Woods, CA 92637
Laguna Woods, CA
Property Size1,010 SF
Lot Size0.02 Acres
Price / SF$335.64
Days on Market284
Property Features for 2104 Ronda Granada
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bathroom 1, Bathroom 2, Laundry Room, Bedroom 2
Parking features
Guest, Carport
Spa
1
Appliances
Water Heater, Disposal, Microwave, Refrigerator, Electric Oven, Dishwasher
Subdivision
Leisure World (LW)
Lot features
6-10 Units/ Acre
Elementary school district
Saddleback Valley Unified
Middle school district
Saddleback Valley Unified
High school district
Saddleback Valley Unified
Directions
Gate 5 turn right Via Mariposa to Ronda Granada turn right manor on left
Standard status
Active
Size
1,010 SF
Lot size
0.02 Acres
Taxes and HOA fees
HOA Fee
$761 Monthly
Utilities
Sewer type
Public Sewer
Heating system
Heat Pump (Heating), Radiant
Cooling system
Wall/Window Unit(s), Window Unit(s), Heat Pump
Water source
Public
Building Details
Year built
1966
Floors in Building
1
Number of units
6
Listing Agency:
Surterre Properties Inc
(949) 545-2000
Listed By:
Dave Dyssegard · License #01895099
(949) 315-1206
Added: Nov 11, 2025
Changed: Aug 19
Last Checked: Aug 22 at 3:06PM
MLS# OC25258840
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.
Welcome to Casa Linda manor, a spacious single-level home located in a park-like setting on a quiet street. The residence offers approximately 1,010 square feet of living space with two bedrooms and two baths. The open floor plan includes a bright living area with large windows, a kitchen that opens to the dining area, and a washer/dryer inside the unit. The primary suite includes ample closet space and an en-suite bath, and the guest bedroom can flex as an office or guest quarters. A private covered patio provides outdoor space with a tranquil view of surrounding greenery.
The home is equipped with radiant heat and a heat pump (heating), along with window/wall unit air conditioning and heat pump cooling. Appliances include a water heater, disposal, microwave, refrigerator, electric oven, and dishwasher. Parking features include a carport and guest parking, and the property has a spa.
Additional site details include a lot size of 0.0232 acres and public water and public sewer service. Built in 1966, this home is part of Laguna Woods Village, a resort-style active adult community with clubhouses, swimming pools, golf, tennis and pickleball, fitness centers, an equestrian center and garden plots, social clubs and arts, free community transportation, and 24-hour gated security.
The home is equipped with radiant heat and a heat pump (heating), along with window/wall unit air conditioning and heat pump cooling. Appliances include a water heater, disposal, microwave, refrigerator, electric oven, and dishwasher. Parking features include a carport and guest parking, and the property has a spa.
Additional site details include a lot size of 0.0232 acres and public water and public sewer service. Built in 1966, this home is part of Laguna Woods Village, a resort-style active adult community with clubhouses, swimming pools, golf, tennis and pickleball, fitness centers, an equestrian center and garden plots, social clubs and arts, free community transportation, and 24-hour gated security.
Key Highlights
- Approximately 1,010 SF single‑level home with two bedrooms and two baths
- Private covered patio overlooking surrounding greenery
- Spa on‑site, plus washer/dryer inside the unit
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
$19,278
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
5.69%
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%
$385,560
$385.6K
Cap Rate 7%
$275,400
$275.4K
Cap Rate 9%
$214,200
$214.2K
Market Conditions
NOI Build-Up for 1,010 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
$36.4K $36.00/SF
− Vacancy
−$1.3K −$1.30/SF
EGI
$35.1K $34.70/SF
− OpEx
−$15.8K −$15.62/SF
NOI
$19.3K $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%
$385,560
Cap Rate 7%
$275,400
Cap Rate 9%
$214,200
Alternative Uses
Best Use
Apartment 5plus
$275.4K
$241.0K – $321.3K
NOI $19,278 @ 7.0% cap · market cap 5.69%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$339.2K
$296.8K – $395.8K
NOI $23,747 @ 7.0% cap · market cap 7.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,600
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
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Single-level two-bedroom, two-bath home with a private covered patio and spa, plus in-unit laundry and carport parking.
Where is this apartment building located?
The property is located at 2104 Ronda Granada Laguna Woods, CA.
What is the asking price?
The asking price for this property is $339,000.
What are key features of this property?
This property features: Approximately 1,010 SF single‑level home with two bedrooms and two baths; Private covered patio overlooking surrounding greenery; Spa on‑site, plus washer/dryer inside the unit
