Remodeled Residential Income
For Sale
Under Contract
$399,000
860 Ronda Mendoza, Laguna Woods, CA 92637
Laguna Woods, CA
Property Size1,057 SF
Price / SF$377.48
Days on Market37
Property Features for 860 Ronda Mendoza
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
2
Bathrooms
2
Full bathrooms
1
Rooms
Laundry Room, Bedroom 1, Bathroom 2, Kitchen, Bathroom 1, Bedroom 2
Parking
1
Parking features
Assigned, Guest, Covered, Carport
Spa
1
Window features
Skylight(s), Screens, Plantation Shutters
Interior features
Balcony, Quartz Counters, Living Room Balcony, Ceiling Fan(s), Pantry, Recessed Lighting
Appliances
Disposal, Electric Water Heater, Microwave, Refrigerator, Electric Range, Ice Maker, Water Line to Refrigerator, Dishwasher
Subdivision
Leisure World (LW)
View
Hills
Elementary school district
Saddleback Valley Unified
Middle school district
Saddleback Valley Unified
High school district
Saddleback Valley Unified
Directions
From Via Mendoza or Ronda Sevilla, turn onto Ronda Mendoza and into CDS 85. Park right in front
Standard status
Active Under Contract
Size
1,057 SF
Taxes and HOA fees
HOA Fee
$827 Monthly
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Ductless (Heating), Zoned, Heat Pump (Heating), Radiant
Cooling system
Electric, Heat Pump, Zoned, Ductless
Water source
Public
Amenities
in-home washer/dryer
two championship golf courses
five swimming pools and spas
seven clubhouses
tennis and pickleball courts
three fitness centers
equestrian center
community transportation
RV parking
gardening centers
performing arts venues
art studios
woodworking facilities
Building Details
Year built
1967
Floors in Building
1
Number of units
1
Flooring type
Vinyl
Listing Agency:
Laguna Premier Realty Inc.
(949) 900-6930
Listed By:
Donna Empfield · License #01386605
(949) 939-5747
Added: Jul 18
Changed: Aug 20
Last Checked: Aug 23 at 7:06PM
MLS# OC26158674
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 co-op, built in 1967, has been remodeled with luxury vinyl plank flooring, plantation shutters, smooth ceilings, and zoned ductless mini-split HVAC. The kitchen includes quartz counters, shaker cabinetry, stainless steel appliances, recessed lighting, and a tile backsplash. A covered balcony extends from the living room, while both bedrooms offer southern exposure, ceiling fans, and mirrored wardrobe doors. The primary suite includes a private bath with a skylight and resurfaced walk-in shower. An in-home stackable washer and dryer is also provided.
The residence is located in Laguna Woods Village, a 55+ community in Laguna Woods. Community amenities include two golf courses, five pools and spas, seven clubhouses, tennis and pickleball courts, three fitness centers, an equestrian center, transportation services, RV parking, gardening centers, performance venues, art studios, woodworking facilities, and more than 250 clubs and organizations. Assigned covered carport parking, guest parking, public water, and public sewer serve the property.
The residence is located in Laguna Woods Village, a 55+ community in Laguna Woods. Community amenities include two golf courses, five pools and spas, seven clubhouses, tennis and pickleball courts, three fitness centers, an equestrian center, transportation services, RV parking, gardening centers, performance venues, art studios, woodworking facilities, and more than 250 clubs and organizations. Assigned covered carport parking, guest parking, public water, and public sewer serve the property.
Key Highlights
- 1,057‑square‑foot upper‑level Castilla co‑op built in 1967
- Two‑bedroom, two‑bath layout with a primary suite and ensuite bath
- Remodeled kitchen with quartz counters, shaker cabinetry, stainless steel appliances, and recessed lighting
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
5.06%
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 5.06%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$355.0K
$310.7K – $414.2K
NOI $24,852 @ 7.0% cap · market cap 6.23%
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
813
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 co-op residence with two bedrooms, two baths, a covered balcony, and updated kitchen and bathroom finishes.
Where is this residential income property located?
The property is located at 860 Ronda Mendoza Laguna Woods, CA.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: 1,057‑square‑foot upper‑level Castilla co‑op built in 1967; Two‑bedroom, two‑bath layout with a primary suite and ensuite bath; Remodeled kitchen with quartz counters, shaker cabinetry, stainless steel appliances, and recessed lighting
