Single-Level Residential Income
For Sale
$429,000
Pending
494 Calle Cadiz, Laguna Woods, CA 92637
Laguna Woods, CA
Property Size1,000 SF
Lot Size0.02 Acres
Days on Market150
Property Features for 494 Calle Cadiz
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
2
Bathrooms
1
Full bathrooms
1
Rooms
Bedroom 1, Bedroom 2, Bathroom 1, Kitchen, Laundry Room
Parking
1
Parking features
Carport
Spa
1
Window features
Plantation Shutters, Double Pane Windows
Patio and Porch features
Patio
Interior features
Granite Counters
Appliances
Water Heater, Refrigerator, Electric Range
Subdivision
Leisure World (LW)
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. Left on Calle Cadiz. Right into first cul de sac 14. On right.
Standard status
Pending
Size
1,000 SF
Lot size
0.02 Acres
Taxes and HOA fees
HOA Fee
$877 Monthly
Utilities
Sewer type
Public Sewer
Heating system
Heat Pump (Heating), Radiant
Cooling system
Heat Pump, Window Unit(s), Wall/Window Unit(s)
Water source
Public
Amenities
stack laundry
private patio
Building Details
Year built
1967
Floors in Building
1
Number of units
4
Flooring type
Wood, Tile
Architectural style
Cottage
Listing Agency:
Laguna Premier Realty Inc.
(949) 900-6930
Listed By:
Bonnie Fullerton · License #01442529
(949) 294-9702
Added: Apr 7
Changed: Sep 2
Last Checked: Sep 3 at 2:06PM
MLS# OC26073102
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 Madrid Model co-op is a single-level residential property with 1,000 square feet and a two-bedroom, one-bathroom layout. Interior improvements include tile and wood flooring, granite kitchen counters, an electric range, refrigerator, water heater, remodeled bathroom finishes, dual sinks, and a tiled walk-in shower. The expanded second bedroom receives natural light from a large skylight, while a second skylight brightens the kitchen. Stack laundry is located inside the unit, and the front doors can open to create a more open interior feel.
The property includes a private patio, carport parking, public water, and public sewer. Built in 1967 with cottage-style architecture, the residence also has heat pump and radiant heating, wall or window cooling units, and a spa.
The property includes a private patio, carport parking, public water, and public sewer. Built in 1967 with cottage-style architecture, the residence also has heat pump and radiant heating, wall or window cooling units, and a spa.
Key Highlights
- Two‑bedroom, one‑bathroom co‑op with 1,000 square feet
- Single‑level layout with no residence above
- Expanded second bedroom with a large skylight
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
$19,087
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
4.45%
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%
$381,740
$381.7K
Cap Rate 7%
$272,671
$272.7K
Cap Rate 9%
$212,078
$212.1K
Market Conditions
NOI Build-Up for 1,000 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
$36.0K $36.00/SF
− Vacancy
−$1.3K −$1.30/SF
EGI
$34.7K $34.70/SF
− OpEx
−$15.6K −$15.62/SF
NOI
$19.1K $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%
$381,740
Cap Rate 7%
$272,671
Cap Rate 9%
$212,078
Alternative Uses
Best Use
Apartment 5plus
$272.7K
$238.6K – $318.1K
NOI $19,087 @ 7.0% cap · market cap 4.45%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$335.9K
$293.9K – $391.9K
NOI $23,512 @ 7.0% cap · market cap 5.48%
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 - Updated co-op residence with two bedrooms, interior laundry, a private patio, and nearby carport parking.
Where is this residential income property located?
The property is located at 494 Calle Cadiz Laguna Woods, CA.
What is the asking price?
The asking price for this property is $429,000.
What are key features of this property?
This property features: Two‑bedroom, one‑bathroom co‑op with 1,000 square feet; Single‑level layout with no residence above; Expanded second bedroom with a large skylight
