Single-Level Residential Income
New
For Sale
$499,000
310 Avenida Castilla, Laguna Woods, CA 92637
Laguna Woods, CA
Property Size1,300 SF
Price / SF$383.85
Days on Market5
Property Features for 310 Avenida Castilla
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
2
Bathrooms
2
Full bathrooms
1
Rooms
Bathroom 2, Den, Bedroom 1, Laundry Room, Bedroom 2, Bathroom 1
Parking
1
Parking features
Covered, Carport, Guest, Assigned
Spa
1
Interior features
Recessed Lighting, Formica Counters, Granite Counters
Appliances
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
From Ave Castilla, turn into CDS 46 OR park on Ave Sevilla right next to the building
Standard status
Active
Size
1,300 SF
Taxes and HOA fees
HOA Fee
$827 Monthly
Utilities
Sewer type
Public Sewer
Heating system
Zoned, Ductless (Heating), Heat Pump (Heating), Electric (Heating)
Cooling system
Zoned, Heat Pump, Ductless, Electric
Water source
Public
Amenities
private front patio
enclosed atrium
golf courses
swimming pools
spas
clubhouses
tennis and pickleball courts
fitness centers
equestrian center
community transportation
RV parking
gardening centers
performing arts venues
art studios
woodworking facilities
clubs and organizations
Building Details
Year built
1965
Floors in Building
1
Number of units
1
Flooring type
Vinyl
Architectural style
Cottage
Listing Agency:
Laguna Premier Realty Inc.
(949) 900-6930
Listed By:
Donna Empfield · License #01386605
(949) 939-5747
Added: Aug 23
Changed: Aug 26
Last Checked: Aug 27 at 12:06AM
MLS# OC26186754
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 updated single-level co-op home offers approximately 1,300 square feet of living space, two bedrooms, two bathrooms, and a private front patio with a substantial vinyl cover, recessed lighting, and storage. Interior improvements include new vinyl plank flooring, dual-pane windows, fresh paint, smooth ceilings, an enclosed atrium, skylights, and a ductless mini-split HVAC system with three zones. The kitchen includes raised countertops, while the home also features a new stack washer and dryer, walk-in shower, bathtub with tile surround, and south-facing bedroom windows.
The property is located within Laguna Woods Village, a 55+ community with two golf courses, five swimming pools and spas, seven clubhouses, tennis and pickleball courts, three fitness centers, an equestrian center, community transportation, RV parking, gardening centers, performance venues, art studios, woodworking facilities, and more than 250 clubs and organizations. Public water and sewer serve the home, with assigned covered carport parking and guest parking available.
The property is located within Laguna Woods Village, a 55+ community with two golf courses, five swimming pools and spas, seven clubhouses, tennis and pickleball courts, three fitness centers, an equestrian center, community transportation, RV parking, gardening centers, performance venues, art studios, woodworking facilities, and more than 250 clubs and organizations. Public water and sewer serve the home, with assigned covered carport parking and guest parking available.
Key Highlights
- Approximately 1,300 square feet with 2 bedrooms and 2 bathrooms
- Private front patio with vinyl covering, recessed lighting, and storage closet
- Enclosed atrium with 2 skylight domes, suitable for office or den use
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
$24,813
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
4.97%
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%
$496,260
$496.3K
Cap Rate 7%
$354,471
$354.5K
Cap Rate 9%
$275,700
$275.7K
Market Conditions
NOI Build-Up for 1,300 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
$46.8K $36.00/SF
− Vacancy
−$1.7K −$1.30/SF
EGI
$45.1K $34.70/SF
− OpEx
−$20.3K −$15.62/SF
NOI
$24.8K $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%
$496,260
Cap Rate 7%
$354,471
Cap Rate 9%
$275,700
Alternative Uses
Best Use
Apartment 5plus
$354.5K
$310.2K – $413.6K
NOI $24,813 @ 7.0% cap · market cap 4.97%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$436.6K
$382.1K – $509.4K
NOI $30,565 @ 7.0% cap · market cap 6.13%
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
1,839
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 - Updated co-op home with a private covered patio, enclosed atrium, and zoned ductless HVAC in a 55+ community.
Where is this residential income property located?
The property is located at 310 Avenida Castilla Laguna Woods, CA.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Approximately 1,300 square feet with 2 bedrooms and 2 bathrooms; Private front patio with vinyl covering, recessed lighting, and storage closet; Enclosed atrium with 2 skylight domes, suitable for office or den use
