Upgraded Residential Income
For Sale
$230,000
Pending
367 Avenida Castilla, Laguna Woods, CA 92637
Laguna Woods, CA
Property Size770 SF
Lot Size0.07 Acres
Days on Market95
Property Features for 367 Avenida Castilla
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
1
Bathrooms
1
Full bathrooms
1
Rooms
Living Room, Bathroom 1, Laundry Room, Bedroom 1
Parking features
Carport, Assigned
Window features
Double Pane Windows
Fireplace
1
Appliances
Disposal, Electric Water Heater, Electric Range, Electric Oven
Subdivision
Leisure World (LW)
Elementary school district
Call Listing Office
Middle school district
Call Listing Office
High school district
Call Listing Office
Directions
Gate 1 off El Toro Rd
Standard status
Pending
Size
770 SF
Lot size
0.07 Acres
Taxes and HOA fees
HOA Fee
$880 Monthly
Utilities
Sewer type
Public Sewer
Heating system
Heat Pump (Heating)
Cooling system
Heat Pump
Water source
Public
Amenities
private patio
swimming pools
golf courses
tennis courts
clubs
concerts
card rooms
24-hour gated security
Building Details
Year built
1965
Floors in Building
1
Number of units
1
Flooring type
Laminate
Listing Agency:
First Team Real Estate
(949) 759-5747
Listed By:
Terrie Khosh · License #01058450
(714) 273-0461
Added: Jun 2
Changed: Sep 2
Last Checked: Sep 4 at 11:06PM
MLS# PW26119943
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 upgraded residential income property is a single-level Cadiz residence with approximately 770 square feet, one bedroom, and one bathroom. The open layout includes a naturally lit living room, kitchen with stainless-steel appliances and updated countertops, laundry room, and storage throughout. Recent improvements include newer windows, wood flooring, bathroom flooring and countertops, a newer garbage disposal, and a newer refrigerator. A ground-floor design provides step-free access, while the concrete patio adds private outdoor space.
Located within Laguna Woods Village in Laguna Woods, California, the home is part of a 55+ community with multiple swimming pools, golf courses, tennis courts, clubs, concerts, card rooms, and other social activities. The property also includes assigned parking and a carport, with public water and public sewer service. Laguna Beach and Dana Point are described as minutes away.
Located within Laguna Woods Village in Laguna Woods, California, the home is part of a 55+ community with multiple swimming pools, golf courses, tennis courts, clubs, concerts, card rooms, and other social activities. The property also includes assigned parking and a carport, with public water and public sewer service. Laguna Beach and Dana Point are described as minutes away.
Key Highlights
- Approximately 770 square feet with one bedroom and one bathroom
- Single‑level, ground‑floor layout with no steps
- Updated kitchen with stainless‑steel appliances and countertops
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
6.39%
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 6.39%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$258.6K
$226.3K – $301.7K
NOI $18,104 @ 7.0% cap · market cap 7.87%
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
1,781
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 - Single-level home with updated finishes, assigned parking, and access to extensive 55+ community amenities.
Where is this residential income property located?
The property is located at 367 Avenida Castilla Laguna Woods, CA.
What is the asking price?
The asking price for this property is $230,000.
What are key features of this property?
This property features: Approximately 770 square feet with one bedroom and one bathroom; Single‑level, ground‑floor layout with no steps; Updated kitchen with stainless‑steel appliances and countertops
