Laguna Hills 2-Bedroom
For Sale
$710,000
26532 Merienda #5 Laguna, Aliso Viejo, CA 92656
Modern 2-bedroom, 2-bathroom condominium with community amenities and convenient location.
Property Size1,160 SF
Days on Market356
Property Features for 26532 Merienda #5 Laguna
General Information
Standard status
Active
Size
1,160 SF
Property subtype
Condominium
Amenities
Fireplace
Central Air
Central
Dishwasher
Disposal
Gas Range
Microwave
Refrigerator
Water Heater
Dryer
Washer
Deck, Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
Building Details
Building Size
1,160 SF
Year Built
1988
Stories
2
Listing Agency:
(626) 893-5684
Listed By:
Neda Ghazvini
(626) 893-5684
Source:
Kw
Added: Aug 19, 2025
Changed: Aug 8
Last Checked: Jul 16 at 8:32AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Neda Ghazvini
Investment Insights
Based on property information with market context.
This 1,160 sq. ft. condominium in Laguna Hills features 2 bedrooms and 2 bathrooms, offering a blend of modern comfort and functionality. The primary suite accommodates a king-sized bed and includes a stylish en-suite bathroom with modern fixtures. The second bedroom is versatile, suitable as a guest room, home office, or personal retreat. The open-concept living and dining area is filled with natural light, leading to an expansive balcony. The kitchen includes essential appliances and ample counter space. Additional features include a detached 1-car garage and a second community parking permit. The Briosa Community provides resort-style amenities such as a pool, jacuzzi, children’s park, and scenic walking trails. The property was re-piped in 2018. Water and trash services are included in HOA dues. The location provides convenient access to shopping, the 73 and 5 freeways, and the beaches of Laguna Beach and Dana Point.
Key Highlights
- Move‑in ready 2‑bedroom, 2‑bathroom condominium with 1,160 sq. ft.
- Enjoy resort‑style Briosa Community amenities including a pool, jacuzzi, children’s park, and scenic walking trails.
- Spacious primary suite with en‑suite bathroom and generous second bedroom.
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
$22,141
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
3.12%
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%
$442,820
$442.8K
Cap Rate 7%
$316,300
$316.3K
Cap Rate 9%
$246,011
$246.0K
Market Conditions
NOI Build-Up for 1,160 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
$41.8K $36.00/SF
− Vacancy
−$1.5K −$1.30/SF
EGI
$40.3K $34.70/SF
− OpEx
−$18.1K −$15.62/SF
NOI
$22.1K $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%
$442,820
Cap Rate 7%
$316,300
Cap Rate 9%
$246,011
Alternative Uses
Best Use
Apartment 5plus
$316.3K
$276.8K – $369.0K
NOI $22,141 @ 7.0% cap · market cap 3.12%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$389.6K
$340.9K – $454.6K
NOI $27,273 @ 7.0% cap · market cap 3.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,000
Businesses Nearby
Explore this area
Business Placement
Demographics for 92656, CA
53,473
Population
21,211
Households
2.5
Avg Household Size
39
Median Age
57%
College-Educated
96%
High-School Grad
8.0 sq mi
ZIP Area
6,684
Density / Sq Mi
$134,538
Median Household Income
$72,864
Median Earnings
$2,764
Median Rent
$849,900
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 - Modern 2-bedroom, 2-bathroom condominium with community amenities and convenient location.
Where is this apartment building located?
The property is located at 26532 Merienda #5 Laguna Aliso Viejo, CA.
What is the asking price?
The asking price for this property is $710,000.
What are key features of this property?
This property features: Move‑in ready 2‑bedroom, 2‑bathroom condominium with 1,160 sq. ft.; Enjoy resort‑style Briosa Community amenities including a pool, jacuzzi, children’s park, and scenic walking trails.; Spacious primary suite with en‑suite bathroom and generous second bedroom.
