Two-Bedroom Residential Income
New
For Sale
$279,000
481 Calle Cadiz, Laguna Woods, CA 92637
MULTI_FAMILY - Laguna Woods, CA
Property Size1,040 SF
Price / SF$268.27
Days on Market4
Property Features for 481 Calle Cadiz
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
2
Bathrooms
2
Full bathrooms
1
Rooms
Bedroom 2, Bedroom 1, Laundry Room, Kitchen, Bathroom 1, Bathroom 2
Parking
1
Parking features
Carport, Guest, Covered
Spa
1
Window features
Screens, Blinds
Interior features
Ceiling Fan(s), Pantry, Recessed Lighting, Formica Counters
Appliances
Disposal, Refrigerator, 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 Sevilla or Ave Majorca, turn onto Calle Cadiz and park right in front or turn into CDS 14
Special listing conditions
Probate Listing
Standard status
Active
Size
1,040 SF
Taxes and HOA fees
HOA Fee
$827 Monthly
Utilities
Sewer type
Public Sewer
Heating system
Radiant
Cooling system
Window Unit(s), Wall/Window Unit(s)
Water source
Public
Amenities
laminate flooring
recessed lights
inside washer/dryer
walk-in jetted bathtub
Murphy bed
covered patio
dishwasher
ceiling fan
two championship golf courses
five swimming pools and spas
seven clubhouses
tennis and pickleball courts
three fitness centers
equestrian center
community transportation
RV parking
gardening centers
performing arts venues
art studios
woodworking facilities
Building Details
Year built
1966
Floors in Building
1
Number of units
1
Flooring type
Laminate
Listing Agency:
Laguna Premier Realty Inc.
(949) 900-6930
Listed By:
Donna Empfield · License #01386605
(949) 939-5747
Added: Aug 13
Changed: Aug 16
Last Checked: Aug 16 at 12:06PM
MLS# OC26179226
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, lower-level Majorca co-op includes two bedrooms and two bathrooms, with parking directly in front of the residence. Interior features include laminate flooring, recessed kitchen lighting, a dishwasher, an inside washer and dryer, a walk-in jetted tub, and a Murphy bed in the guest bedroom. The living room opens through a large sliding door to a covered, northwest-facing patio. The primary suite includes an added bedroom window and a bathroom window, while the dining area has a lighted ceiling fan. The HOA kitchen flooring is on order, with the existing floor currently at concrete slab.
Built in 1966, the home is located in 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, performing arts venues, art studios, woodworking facilities, and more than 250 clubs and organizations. Public water and public sewer serve the property.
Built in 1966, the home is located in 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, performing arts venues, art studios, woodworking facilities, and more than 250 clubs and organizations. Public water and public sewer serve the property.
Key Highlights
- 1,040‑square‑foot lower‑level Majorca co‑op
- Two bedrooms and two bathrooms
- Covered northwest‑facing patio with shaded daytime exposure
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
7.12%
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%
$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 7.12%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$349.3K
$305.7K – $407.5K
NOI $24,452 @ 7.0% cap · market cap 8.76%
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
1,449
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 - Lower-level co-op with covered patio, front parking, upgraded finishes, and access to Laguna Woods Village amenities.
Where is this residential income property located?
The property is located at 481 Calle Cadiz Laguna Woods, CA.
What is the asking price?
The asking price for this property is $279,000.
What are key features of this property?
This property features: 1,040‑square‑foot lower‑level Majorca co‑op; Two bedrooms and two bathrooms; Covered northwest‑facing patio with shaded daytime exposure
