Modern Cottage Apartment
For Sale
$365,000
Pending
532 Via Estrada, Laguna Woods, CA 92637
Laguna Woods, CA
Property Size950 SF
Days on Market53
Property Features for 532 Via Estrada
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
2
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1, Kitchen, Laundry Room, Bedroom 2, Bedroom 1
Parking
1
Parking features
Assigned, RV, Carport, Guest
Spa
1
Window features
Skylight(s), Double Pane Windows, Screens, Garden Window(s)
Interior features
Ceiling Fan(s)
Appliances
Electric Oven, Electric Water Heater, Electric Cooktop, Refrigerator, Disposal, Dishwasher, Vented Exhaust Fan, Microwave
Subdivision
Leisure World (LW)
Elementary school district
Saddleback Valley Unified
Middle school district
Saddleback Valley Unified
High school district
Saddleback Valley Unified
Directions
Paseo de Valencia to Gate 2; left on first cul-de-sac to 532-C
Standard status
Pending
Size
950 SF
Taxes and HOA fees
HOA Fee
$827 Monthly
Utilities
Heating system
Heat Pump (Heating), Electric (Heating), Radiant
Cooling system
Heat Pump, Electric
Water source
Public
Building Details
Year built
1966
Floors in Building
1
Number of units
8
Flooring type
Carpet, Tile
Building materials
Frame, Stucco
Roof type
Composition
Architectural style
Cottage, Modern
Listing Agency:
Laguna Premier Realty Inc.
(949) 900-6930
Listed By:
Catherine Mulley · License #01912591
(518) 858-4103
Added: Jul 11
Changed: Aug 24
Last Checked: Sep 1 at 4:06AM
MLS# OC26143793
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.
Apartment buildings featuring modern and cottage architectural style, frame and stucco construction, and composition roofing. Interior comforts include ceiling fans, carpet and tile flooring, and a suite of in-unit appliances such as an electric oven, electric cooktop, microwave, refrigerator, disposal, dishwasher, and vented exhaust fan. Heating is provided by radiant and electric systems with a heat pump, with electric and heat pump cooling supported throughout. The property includes a spa.
Built in 1966, the home sits at 532 Via Estrada in Laguna Woods, Orange County, California, with public water service. Parking features include assigned spaces, guest parking, carports, and RV parking. Interior rooms listed include Bedroom 1, Bedroom 2, Kitchen, Bathroom 1, and a laundry room.
Built in 1966, the home sits at 532 Via Estrada in Laguna Woods, Orange County, California, with public water service. Parking features include assigned spaces, guest parking, carports, and RV parking. Interior rooms listed include Bedroom 1, Bedroom 2, Kitchen, Bathroom 1, and a laundry room.
Key Highlights
- Modern and cottage architectural style
- Frame and stucco construction with composition roof
- Spa on site
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
$18,133
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
4.97%
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%
$362,660
$362.7K
Cap Rate 7%
$259,043
$259.0K
Cap Rate 9%
$201,478
$201.5K
Market Conditions
NOI Build-Up for 950 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
$34.2K $36.00/SF
− Vacancy
−$1.2K −$1.30/SF
EGI
$33.0K $34.70/SF
− OpEx
−$14.8K −$15.62/SF
NOI
$18.1K $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%
$362,660
Cap Rate 7%
$259,043
Cap Rate 9%
$201,478
Alternative Uses
Best Use
Apartment 5plus
$259.0K
$226.7K – $302.2K
NOI $18,133 @ 7.0% cap · market cap 4.97%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$319.1K
$279.2K – $372.3K
NOI $22,336 @ 7.0% cap · market cap 6.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,782
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
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Apartment building with cottage/modern architecture, spa, and electric heating with heat pump cooling.
Where is this apartment building located?
The property is located at 532 Via Estrada Laguna Woods, CA.
What is the asking price?
The asking price for this property is $365,000.
What are key features of this property?
This property features: Modern and cottage architectural style; Frame and stucco construction with composition roof; Spa on site
