First-Floor Residential Income
For Sale
$318,000
328 Avenida Carmel, Laguna Woods, CA 92637
Laguna Woods, CA
Property Size1,040 SF
Price / SF$305.77
Days on Market57
Property Features for 328 Avenida Carmel
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
2
Bathrooms
2
Rooms
Bedroom 2, Bathroom 2, Kitchen, Laundry Room, Bathroom 1, Bedroom 1
Parking
1
Parking features
Carport
Spa
1
Window features
Screens
Interior features
Unfurnished, Ceiling Fan(s), Formica Counters
Appliances
Disposal, Electric Water Heater, Refrigerator, Vented Exhaust Fan, Electric Oven, Electric Cooktop
Subdivision
Leisure World (LW)
Lot features
Sprinklers In Front, Sprinklers In Rear
View
Park
Elementary school district
Saddleback Valley Unified
Middle school district
Saddleback Valley Unified
High school district
Saddleback Valley Unified
Directions
El Toro Rd to Gate 1/Avenida Sevilla, Turn Right on Avenida Carmel or Park in front of 329 and 328 building on Avenida Sevilla.
Standard status
Active
Size
1,040 SF
Taxes and HOA fees
HOA Fee
$827 Monthly
Utilities
Sewer type
Public Sewer
Heating system
Radiant, Electric (Heating), Heat Pump (Heating)
Cooling system
Window Unit(s), Wall/Window Unit(s)
Water source
Public
Amenities
covered patio
in-unit washer/dryer
golf course
tennis courts
pickleball courts
fitness centers
pools
equestrian center
community gardens
art studio
woodshop
clubs
free community bus
RV storage
guard gated security
Building Details
Year built
1965
Floors in Building
1
Number of units
8
Flooring type
Tile, Vinyl
Building materials
Drywall Walls
Architectural style
Contemporary
Listing Agency:
Laguna Premier Realty Inc.
(949) 900-6930
Listed By:
Claire Craig · License #01372644
(858) 204-2279
Added: Aug 7
Changed: Oct 1
Last Checked: Oct 2 at 6:06AM
MLS# OC26173759
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, first-floor residence features a two-bedroom, two-bath layout with fresh interior paint and wood-look flooring across much of the home. The living room connects to a covered patio framed by mature landscaping, while the dining area sits beside a naturally lit kitchen equipped with white cabinetry, extensive counter and storage space, a built-in oven, and an electric cooktop. Both bedrooms provide generous closet storage, and the home includes a stacked washer and dryer, carport parking, electric heating, and wall or window unit cooling. One bathroom has been remodeled with a large walk-in shower, floor-to-ceiling tile, built-in niche, handheld fixture, grab bars, and fold-down seat.
The property is located in Laguna Woods Village, an active senior community with an age requirement of 55+ for the first occupant and 45+ for a second occupant. Community amenities include a 27-hole championship golf course, a 9-hole executive course, tennis and pickleball facilities, fitness centers, multiple pools, an equestrian center, gardens, an art studio, woodshop, more than 200 clubs, community bus service, RV storage, and guard-gated security. Laguna Beach is approximately 6 miles away.
The property is located in Laguna Woods Village, an active senior community with an age requirement of 55+ for the first occupant and 45+ for a second occupant. Community amenities include a 27-hole championship golf course, a 9-hole executive course, tennis and pickleball facilities, fitness centers, multiple pools, an equestrian center, gardens, an art studio, woodshop, more than 200 clubs, community bus service, RV storage, and guard-gated security. Laguna Beach is approximately 6 miles away.
Key Highlights
- 1,040‑square‑foot first‑floor residence with 2 bedrooms and 2 bathrooms
- Covered patio adjoining the living room, with mature landscaping
- Remodeled bathroom with walk‑in shower, tile surround, grab bars, and fold‑down seat
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
6.24%
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 6.24%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$349.3K
$305.7K – $407.5K
NOI $24,452 @ 7.0% cap · market cap 7.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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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
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Frequently Asked Questions
What type of property is this?
Residential income property - Single-level residence with updated flooring, covered patio, remodeled bath, and in-unit laundry within an active senior community.
Where is this residential income property located?
The property is located at 328 Avenida Carmel Laguna Woods, CA.
What is the asking price?
The asking price for this property is $318,000.
What are key features of this property?
This property features: 1,040‑square‑foot first‑floor residence with 2 bedrooms and 2 bathrooms; Covered patio adjoining the living room, with mature landscaping; Remodeled bathroom with walk‑in shower, tile surround, grab bars, and fold‑down seat
