Upper-Level Residential Income
For Sale
$375,000
582 Avenida Majorca, Laguna Woods, CA 92637
Laguna Woods, CA
Property Size1,057 SF
Price / SF$354.78
Days on Market62
Property Features for 582 Avenida Majorca
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
2
Bathrooms
2
Full bathrooms
1
Rooms
Bedroom 1, Bathroom 1, Laundry Room, Bathroom 2, Bedroom 2, Kitchen
Parking
1
Parking features
Carport, Assigned, Covered, Guest
Spa
1
Window features
Double Pane Windows, Screens, Skylight(s)
Interior features
Balcony, Living Room Balcony, Ceiling Fan(s), Pantry, Recessed Lighting, Formica Counters
Fireplace
1
Appliances
Disposal, Electric Water Heater, Refrigerator, Electric Oven, 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
Form Ave Majorca, turn into CDS 60
Standard status
Active
Size
1,057 SF
Taxes and HOA fees
HOA Fee
$827 Monthly
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Heat Pump (Heating), Central
Cooling system
Heat Pump, Central Air, Electric
Water source
Public
Amenities
central HVAC
dual pane windows
washer/dryer
laminate floors
smooth ceilings
fresh paint
butcher block island
raised countertops
recessed lights
ceiling fan
wood-burning fireplace
wrap-around balcony
tiled walk-in shower
Solartubes
smoke-free building
golf courses
swimming pools
spas
tennis courts
pickleball courts
clubhouses
fitness centers
equestrian center
community transportation
RV parking
gardening centers
clubs and activities
Building Details
Year built
1966
Floors in Building
1
Number of units
1
Flooring type
Vinyl, Carpet
Listing Agency:
Laguna Premier Realty Inc.
(949) 900-6930
Listed By:
Donna Empfield · License #01386605
(949) 939-5747
Added: Jun 23
Changed: Aug 20
Last Checked: Aug 23 at 10:06AM
MLS# OC26139328
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 1,057-square-foot upper-level Castilla condo at 582 Avenida Majorca includes two bedrooms, two bathrooms, a separate laundry area, and a ranch-style layout. The home has central HVAC, dual-pane windows, laminate and carpet flooring, recessed lighting, and fresh paint. The expanded kitchen features a butcher-block island, raised countertops, electric appliances, and an adjoining dining area. A wood-burning fireplace anchors the living room, while the partially covered wrap-around balcony adds outdoor space and side storage. Both bathrooms receive natural light through Solartubes, and the primary suite includes a tiled walk-in shower and in-closet stack washer/dryer.
The property is located in Laguna Woods, CA, within a 55+ community offering golf courses, five swimming pools and spas, tennis and pickleball courts, seven clubhouses, three fitness centers, an equestrian center, community transportation, RV parking, gardening centers, and more than 250 clubs and activities. Parking features include an assigned covered carport and guest parking.
The property is located in Laguna Woods, CA, within a 55+ community offering golf courses, five swimming pools and spas, tennis and pickleball courts, seven clubhouses, three fitness centers, an equestrian center, community transportation, RV parking, gardening centers, and more than 250 clubs and activities. Parking features include an assigned covered carport and guest parking.
Key Highlights
- 1,057‑square‑foot upper‑level condo with two bedrooms and two bathrooms
- Expanded kitchen with butcher‑block island, raised countertops, recessed lighting, and electric appliances
- Partially covered wrap‑around balcony with additional side storage space
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
$20,175
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
5.38%
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%
$403,500
$403.5K
Cap Rate 7%
$288,214
$288.2K
Cap Rate 9%
$224,167
$224.2K
Market Conditions
NOI Build-Up for 1,057 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
$38.1K $36.00/SF
− Vacancy
−$1.4K −$1.30/SF
EGI
$36.7K $34.70/SF
− OpEx
−$16.5K −$15.62/SF
NOI
$20.2K $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%
$403,500
Cap Rate 7%
$288,214
Cap Rate 9%
$224,167
Alternative Uses
Best Use
Apartment 5plus
$288.2K
$252.2K – $336.3K
NOI $20,175 @ 7.0% cap · market cap 5.38%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$355.0K
$310.7K – $414.2K
NOI $24,852 @ 7.0% cap · market cap 6.63%
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
980
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 condo with central HVAC, balcony, and assigned covered parking.
Where is this residential income property located?
The property is located at 582 Avenida Majorca Laguna Woods, CA.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: 1,057‑square‑foot upper‑level condo with two bedrooms and two bathrooms; Expanded kitchen with butcher‑block island, raised countertops, recessed lighting, and electric appliances; Partially covered wrap‑around balcony with additional side storage space
