Quadplex with Two
For Sale
$524,000
356 Avenida Castilla, Laguna Woods, CA 92637
Laguna Woods, CA
Property Size1,091 SF
Lot Size0.03 Acres
Price / SF$480.29
Days on Market37
Property Features for 356 Avenida Castilla
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bedroom 1, Laundry Room, Bathroom 2, Bathroom 1
Parking
1
Parking features
Guest, Carport
Spa
1
Appliances
Disposal, Refrigerator, Vented Exhaust Fan, Electric Oven, Electric Cooktop
Subdivision
Leisure World (LW)
View
Park
Elementary school district
Saddleback Valley Unified
Middle school district
Saddleback Valley Unified
High school district
Saddleback Valley Unified
Directions
Gate 1 go thur stop sign turn left first street go str thur stop sign and look for CDS 46 turn right house on right
Standard status
Active
Size
1,091 SF
Lot size
0.03 Acres
Taxes and HOA fees
HOA Fee
$827 Monthly
Utilities
Sewer type
Public Sewer
Heating system
Ductless (Heating), Heat Pump (Heating)
Cooling system
Wall/Window Unit(s), Ductless, Heat Pump, Window Unit(s)
Water source
Public
Amenities
vaulted ceilings
tile flooring
front patio
private upstairs patio
27-hole championship golf course
9-hole executive golf course
swimming pools
fitness centers
tennis courts
pickleball courts
clubhouses
equestrian center
performing arts theater
walking trails
transportation services
24-hour gated security
Building Details
Year built
1965
Floors in Building
2
Number of units
4
Listing Agency:
Surterre Properties Inc
(949) 545-2000
Listed By:
Dave Dyssegard · License #01895099
(949) 315-1206
Added: Jul 17
Changed: Aug 20
Last Checked: Aug 22 at 6:06PM
MLS# OC26156859
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 quadplex residence offers a versatile two-bedroom, two-bath layout with vaulted ceilings and tile flooring in the main living area. One bedroom and bathroom are located on the main level, while the private upstairs bedroom and bathroom provide added separation for guests or a home office. The home also includes a laundry room, and two outdoor spaces: a front patio that overlooks a greenbelt and a private upstairs patio.
Built in 1965, the property sits on a 0.0253-acre lot and includes approximately 1,091 square feet. Heating is provided by a heat pump and ductless systems, with cooling via ductless, wall/window units, and window units.
Kitchen and household appliances include a disposal, refrigerator, electric oven, and electric cooktop, along with a vented exhaust fan. Spa amenities are indicated, and parking includes a carport plus guest parking. Public water and public sewer service are available. As a Laguna Woods Village resident, you also have access to community amenities including a 27-hole championship golf course, five swimming pools, fitness centers, tennis and pickleball courts, multiple clubhouses, an equestrian center, a performing arts theater, and 24-hour gated security.
Built in 1965, the property sits on a 0.0253-acre lot and includes approximately 1,091 square feet. Heating is provided by a heat pump and ductless systems, with cooling via ductless, wall/window units, and window units.
Kitchen and household appliances include a disposal, refrigerator, electric oven, and electric cooktop, along with a vented exhaust fan. Spa amenities are indicated, and parking includes a carport plus guest parking. Public water and public sewer service are available. As a Laguna Woods Village resident, you also have access to community amenities including a 27-hole championship golf course, five swimming pools, fitness centers, tennis and pickleball courts, multiple clubhouses, an equestrian center, a performing arts theater, and 24-hour gated security.
Key Highlights
- 0.0253‑acre lot with approximately 1,091 SF
- Two‑bedroom, two‑bath layout with main‑level bedroom and bathroom plus private upstairs bedroom and bath
- Vaulted ceilings and tile flooring in the main living area
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
$20,824
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
3.97%
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%
$416,480
$416.5K
Cap Rate 7%
$297,486
$297.5K
Cap Rate 9%
$231,378
$231.4K
Market Conditions
NOI Build-Up for 1,091 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
$39.3K $36.00/SF
− Vacancy
−$1.4K −$1.30/SF
EGI
$37.9K $34.70/SF
− OpEx
−$17.0K −$15.62/SF
NOI
$20.8K $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%
$416,480
Cap Rate 7%
$297,486
Cap Rate 9%
$231,378
Alternative Uses
Best Use
Apartment 5plus
$297.5K
$260.3K – $347.1K
NOI $20,824 @ 7.0% cap · market cap 3.97%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$366.4K
$320.6K – $427.5K
NOI $25,651 @ 7.0% cap · market cap 4.90%
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
1,839
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?
Single family property - Two-bedroom, two-bath residence with vaulted ceilings, private patios, spa access, and carport plus guest parking.
Where is this single family property located?
The property is located at 356 Avenida Castilla Laguna Woods, CA.
What is the asking price?
The asking price for this property is $524,000.
What are key features of this property?
This property features: 0.0253‑acre lot with approximately 1,091 SF; Two‑bedroom, two‑bath layout with main‑level bedroom and bathroom plus private upstairs bedroom and bath; Vaulted ceilings and tile flooring in the main living area
