Open-Concept Residential Income
For Sale
$649,900
Pending
312 Avenida Castilla, Laguna Woods, CA 92637
Laguna Woods, CA
Property Size1,400 SF
Days on Market59
Property Features for 312 Avenida Castilla
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bathroom 2, Laundry Room, Kitchen, Bedroom 1, Bathroom 1
Parking
1
Parking features
Carport
Spa
1
Window features
Skylight(s)
Patio and Porch features
Patio, Porch
Interior features
Ceiling Fan(s), Pantry, Open Floorplan
Appliances
Electric Water Heater, Microwave, 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
Gate 1, 312 Avenida Sevilla will be on your left, easiest access is to park on Avenida Sevilla
Standard status
Pending
Size
1,400 SF
Taxes and HOA fees
HOA Fee
$827 Monthly
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
private gated courtyard
oversized patio
custom built-in cabinetry
dedicated office area
walk-in pantry
wet bar
in-home washer and dryer
central heating and air conditioning
smooth ceilings
ceiling fans
dual-pane windows
skylights
community bus system
swimming pools
hot tubs
golf courses
tennis courts
pickleball courts
clubhouses
fitness centers
equestrian center
theater
library
garden centers
billiards
bocce ball
basketball courts
card rooms
social clubs
Building Details
Year built
1965
Floors in Building
1
Number of units
1
Flooring type
Vinyl, Tile
Building materials
Stucco
Architectural style
Cottage
Listing Agency:
CENTURY 21 Affiliated · Century 21 Real Estate
(949) 551-7000
Listed By:
Jennifer Falconer · License #01276852
(949) 278-1630
Added: Jul 8
Changed: Sep 3
Last Checked: Sep 4 at 7:06AM
MLS# OC26149991
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 1,400-square-foot cottage-style residence features an open floor plan with no neighbors above or below. The interior includes an expanded living room with custom built-ins and an office area, plus a kitchen with extensive cabinetry, generous counter space, a walk-in pantry, and an adjoining dining area. A wet bar, in-home laundry, central heating and air conditioning, dual-pane windows, ceiling fans, smooth ceilings, and skylights add practical functionality. The home has two bedrooms, two bathrooms, tile and vinyl flooring, and a carport.
Outdoor features include a private gated courtyard and an oversized patio. The property was built in 1965 and is served by public water and public sewer. It is located within Laguna Woods Village, a 55+ community offering five swimming pools, four hot tubs, two golf courses, tennis and pickleball courts, seven clubhouses, three fitness centers, an equestrian center, theater, library, garden centers, billiards, bocce ball, basketball courts, card rooms, and a community bus system.
Outdoor features include a private gated courtyard and an oversized patio. The property was built in 1965 and is served by public water and public sewer. It is located within Laguna Woods Village, a 55+ community offering five swimming pools, four hot tubs, two golf courses, tennis and pickleball courts, seven clubhouses, three fitness centers, an equestrian center, theater, library, garden centers, billiards, bocce ball, basketball courts, card rooms, and a community bus system.
Key Highlights
- 1,400‑square‑foot cottage‑style residence built in 1965
- Open floor plan with no neighbors above or below
- Private gated courtyard and oversized patio
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
$26,722
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
4.11%
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%
$534,440
$534.4K
Cap Rate 7%
$381,743
$381.7K
Cap Rate 9%
$296,911
$296.9K
Market Conditions
NOI Build-Up for 1,400 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
$50.4K $36.00/SF
− Vacancy
−$1.8K −$1.30/SF
EGI
$48.6K $34.70/SF
− OpEx
−$21.9K −$15.62/SF
NOI
$26.7K $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%
$534,440
Cap Rate 7%
$381,743
Cap Rate 9%
$296,911
Alternative Uses
Best Use
Apartment 5plus
$381.7K
$334.0K – $445.4K
NOI $26,722 @ 7.0% cap · market cap 4.11%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$470.2K
$411.5K – $548.6K
NOI $32,916 @ 7.0% cap · market cap 5.06%
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
1,874
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 cottage-style residence with a private courtyard, oversized patio, and extensive built-in storage.
Where is this residential income property located?
The property is located at 312 Avenida Castilla Laguna Woods, CA.
What is the asking price?
The asking price for this property is $649,900.
What are key features of this property?
This property features: 1,400‑square‑foot cottage‑style residence built in 1965; Open floor plan with no neighbors above or below; Private gated courtyard and oversized patio
