Residential Income Property with
For Sale
$279,000
481 Calle Cadiz, Laguna Woods, CA 92637
Laguna Woods, CA
Property Size1,040 SF
Price / SF$268.27
Days on Market11
Property Features for 481 Calle Cadiz
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
2
Bathrooms
2
Full bathrooms
1
Rooms
Bathroom 1, Bedroom 1, Bathroom 2, Kitchen, Laundry Room, Bedroom 2
Parking
1
Parking features
Carport, Guest, Covered
Spa
1
Window features
Screens, Blinds
Interior features
Ceiling Fan(s), Pantry, Recessed Lighting, Formica Counters
Appliances
Disposal, 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
From Ave Sevilla or Ave Majorca, turn onto Calle Cadiz and park right in front or turn into CDS 14
Special listing conditions
Probate Listing
Standard status
Active
Size
1,040 SF
Taxes and HOA fees
HOA Fee
$827 Monthly
Utilities
Sewer type
Public Sewer
Heating system
Radiant
Cooling system
Wall/Window Unit(s), Window Unit(s)
Water source
Public
Amenities
golf course
swimming pool
spa
clubhouse
tennis court
pickleball court
fitness center
equestrian center
community transportation
RV parking
gardening center
performing arts venue
art studio
woodworking facility
Building Details
Year built
1966
Floors in Building
1
Number of units
1
Flooring type
Laminate
Listing Agency:
Laguna Premier Realty Inc.
(949) 900-6930
Listed By:
Donna Empfield · License #01386605
(949) 939-5747
Added: Aug 13
Changed: Aug 20
Last Checked: Aug 23 at 3:06PM
MLS# OC26179226
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, lower-level Majorca co-op offers two bedrooms and two bathrooms within Laguna Woods Village. The interior includes laminate flooring, recessed kitchen lighting, a dishwasher, ceiling fan, radiant heating, and an in-unit washer and dryer. A Murphy bed serves the guest bedroom, while the primary suite includes an added window and an en suite bathroom with a walk-in jetted tub. The living room opens through a large sliding door to a covered, northwest-facing patio. Parking is available directly in front, with covered, carport, and guest parking features.
Built in 1966, the property has public water and public sewer service. Laguna Woods Village provides a 55+ setting with two championship golf courses, five swimming pools and spas, seven clubhouses, tennis and pickleball courts, three fitness centers, community transportation, RV parking, and more than 250 clubs and organizations. Shopping, dining, medical facilities, and Orange County beaches are minutes away.
Built in 1966, the property has public water and public sewer service. Laguna Woods Village provides a 55+ setting with two championship golf courses, five swimming pools and spas, seven clubhouses, tennis and pickleball courts, three fitness centers, community transportation, RV parking, and more than 250 clubs and organizations. Shopping, dining, medical facilities, and Orange County beaches are minutes away.
Key Highlights
- 1,040 square feet with 2 bedrooms and 2 bathrooms
- Lower‑level Majorca co‑op with covered, northwest‑facing patio
- Parking directly in front, plus covered, carport, and guest parking
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
7.12%
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 7.12%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$349.3K
$305.7K – $407.5K
NOI $24,452 @ 7.0% cap · market cap 8.76%
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
1,449
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 - Lower-level two-bedroom co-op with covered patio, parking at the front, and a 55+ community setting.
Where is this residential income property located?
The property is located at 481 Calle Cadiz Laguna Woods, CA.
What is the asking price?
The asking price for this property is $279,000.
What are key features of this property?
This property features: 1,040 square feet with 2 bedrooms and 2 bathrooms; Lower‑level Majorca co‑op with covered, northwest‑facing patio; Parking directly in front, plus covered, carport, and guest parking
