Residential Income Property with
For Sale
$285,000
118 Via Estrada, Laguna Woods, CA 92637
MULTI_FAMILY - Laguna Woods, CA
Property Size1,040 SF
Lot Size0.02 Acres
Price / SF$274.04
Days on Market139
Property Features for 118 Via Estrada
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
2
Bathrooms
2
Full bathrooms
1
Rooms
Living Room, Bedroom 1, Bedroom 2, Bathroom 2, Laundry Room, Bathroom 1
Parking
1
Parking features
Guest, Carport, Assigned
Spa
1
Window features
Double Pane Windows, Screens, Blinds
Interior features
Unfurnished, Ceiling Fan(s), Formica Counters
Appliances
Disposal, Electric Water Heater, Range Hood, 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
Enter Gate 2 from Paseo De Valencia, Take the first right into cul-de-sac 21. Carport 106 Space 3
Standard status
Active
Size
1,040 SF
Lot size
0.02 Acres
Taxes and HOA fees
HOA Fee
$827 Monthly
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Heat Pump (Heating), Radiant
Cooling system
Wall/Window Unit(s), Window Unit(s)
Water source
Public
Amenities
sunroom
inside laundry
carport
golf course
tennis
pickleball
fitness centers
pools
equestrian center
community gardens
art studio
woodshop
RV storage
guard gated security
Building Details
Year built
1965
Floors in Building
1
Number of units
16
Flooring type
Carpet, Tile
Listing Agency:
Laguna Premier Realty Inc.
(949) 900-6930
Listed By:
Claire Craig · License #01372644
(858) 204-2279
Added: Apr 4
Changed: Aug 18
Last Checked: Aug 20 at 2:06AM
MLS# OC26084162
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 Majorca model offers a single-level layout with two bedrooms and two bathrooms. The living room connects to the dining area and continues into an enclosed patio-style sunroom that can serve as flexible recreation, hobby, or office space. The kitchen includes Formica counters, cabinet storage, an electric cooktop, electric oven, dishwasher, disposal, and range hood. Additional features include in-home stackable laundry, tile and carpet flooring, ceiling fans, newer vinyl dual-pane windows in the bedrooms and kitchen, and a private bathroom within the primary suite. Assigned and guest parking are available through the carport arrangement.
The home is located in Laguna Woods Village, an active senior community with age requirements of 55+ for the first occupant and 45+ for a second occupant. Community amenities include golf facilities, tennis and pickleball courts, fitness centers, pools, an equestrian center, gardens, creative studios, organized clubs, bus service, RV storage, and guard-gated security. The property is approximately 6 miles from Laguna Beach and is near shopping, dining, and medical facilities.
The home is located in Laguna Woods Village, an active senior community with age requirements of 55+ for the first occupant and 45+ for a second occupant. Community amenities include golf facilities, tennis and pickleball courts, fitness centers, pools, an equestrian center, gardens, creative studios, organized clubs, bus service, RV storage, and guard-gated security. The property is approximately 6 miles from Laguna Beach and is near shopping, dining, and medical facilities.
Key Highlights
- 1,040‑square‑foot Majorca model with 2 bedrooms and 2 bathrooms
- Enclosed patio‑style sunroom adds flexible living, hobby, or office space
- Newer vinyl dual‑pane windows in the bedrooms and kitchen
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
6.97%
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%
$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 6.97%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$349.3K
$305.7K – $407.5K
NOI $24,452 @ 7.0% cap · market cap 8.58%
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
2,104
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 - Two-bedroom residence in an active senior community with convenient carport access and an enclosed bonus living area.
Where is this residential income property located?
The property is located at 118 Via Estrada Laguna Woods, CA.
What is the asking price?
The asking price for this property is $285,000.
What are key features of this property?
This property features: 1,040‑square‑foot Majorca model with 2 bedrooms and 2 bathrooms; Enclosed patio‑style sunroom adds flexible living, hobby, or office space; Newer vinyl dual‑pane windows in the bedrooms and kitchen
