Move-In Ready Senior Corner
For Sale
$205,900
185 Avenida Majorca, Laguna Woods, CA 92637
Laguna Woods, CA
Property Size770 SF
Price / SF$267.40
Days on Market66
Property Features for 185 Avenida Majorca
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
1
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1, Bedroom 1, Laundry Room, Kitchen
Parking
1
Parking features
Carport
Spa
1
Interior features
Balcony
Appliances
Disposal, Electric Water Heater, Refrigerator, Electric Oven, Dishwasher, Electric Cooktop
Lot features
Cul-De-Sac, Close to Clubhouse
View
Hills
Elementary school district
Saddleback Valley Unified
Middle school district
Saddleback Valley Unified
High school district
Saddleback Valley Unified
Directions
Gate 2 off Paseo de Valencia. First left on Avenida Majorca to cul de sac 57.
Subdivision
LW - Laguna Woods
Standard status
Active
Size
770 SF
Taxes and HOA fees
HOA Fee
$827 Monthly
Utilities
Sewer type
Public Sewer
Heating system
Heat Pump (Heating)
Cooling system
Heat Pump
Water source
Public
Amenities
balcony
golf
tennis
bocce ball
lawn bowling
equestrian center
music
comedy club
entertainment
clubhouse
swimming pools
Building Details
Year built
1965
Floors in Building
1
Number of units
8
Flooring type
Laminate
Listing Agency:
PREA Realty, Inc.
(949) 525-8955
Listed By:
Paul Santoro · License #01463389
(949) 525-8955
Added: Jun 19
Changed: Aug 19
Last Checked: Aug 23 at 12:06AM
MLS# OC26135104
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.
Located at 185 Avenida Majorca in Laguna Woods, this move-in ready upper corner unit is in a 55+ senior community. The home features dual-pane vinyl windows with shutters, laminate flooring in the kitchen, dining area, and entry, carpet in the bedroom, and vinyl flooring in the bathroom. A large balcony adds outdoor space.
The unit is conveniently positioned near Gate 2, with easy access to shopping and restaurants, and it’s noted as being close to Laguna Beach.
The community offers extensive on-site activities and amenities, including more than 250 clubs and organizations, and features such as golf cart-friendly access. Additional recreational offerings mentioned include tennis, bocce ball, lawn bowling, and an equestrian center. Entertainment options include music and a comedy club, and Clubhouse 4 is highlighted as a venue for creative groups. Residents also have access to six swimming pools.
The unit is conveniently positioned near Gate 2, with easy access to shopping and restaurants, and it’s noted as being close to Laguna Beach.
The community offers extensive on-site activities and amenities, including more than 250 clubs and organizations, and features such as golf cart-friendly access. Additional recreational offerings mentioned include tennis, bocce ball, lawn bowling, and an equestrian center. Entertainment options include music and a comedy club, and Clubhouse 4 is highlighted as a venue for creative groups. Residents also have access to six swimming pools.
Key Highlights
- Upper corner unit in a 55+ senior community, near Gate 2
- Large balcony for outdoor relaxing
- Dual‑pane vinyl windows with shutters throughout
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
$14,697
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
7.14%
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%
$293,940
$293.9K
Cap Rate 7%
$209,957
$210.0K
Cap Rate 9%
$163,300
$163.3K
Market Conditions
NOI Build-Up for 770 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
$27.7K $36.00/SF
− Vacancy
−$998 −$1.30/SF
EGI
$26.7K $34.70/SF
− OpEx
−$12.0K −$15.62/SF
NOI
$14.7K $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%
$293,940
Cap Rate 7%
$209,957
Cap Rate 9%
$163,300
Alternative Uses
Best Use
Apartment 5plus
$210.0K
$183.7K – $245.0K
NOI $14,697 @ 7.0% cap · market cap 7.14%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$258.6K
$226.3K – $301.7K
NOI $18,104 @ 7.0% cap · market cap 8.79%
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
1,807
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
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Upper corner unit in a 55+ community with a large balcony and dual-pane vinyl windows with shutters.
Where is this apartment building located?
The property is located at 185 Avenida Majorca Laguna Woods, CA.
What is the asking price?
The asking price for this property is $205,900.
What are key features of this property?
This property features: Upper corner unit in a 55+ senior community, near Gate 2; Large balcony for outdoor relaxing; Dual‑pane vinyl windows with shutters throughout
