Ground-Level Residential Income
For Sale
$598,800
Pending
687 Avenida Sevilla, Laguna Woods, CA 92637
Laguna Woods, CA
Property Size1,275 SF
Days on Market55
Property Features for 687 Avenida Sevilla
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bathroom 2, Bedroom 2, Bathroom 1, Kitchen, Laundry Room
Parking
1
Parking features
Carport, Covered
Spa
1
Window features
Screens, Double Pane Windows
Patio and Porch features
Patio
Interior features
Quartz Counters, Furnished, Recessed Lighting, Open Floorplan
Appliances
Water Heater, Disposal, Electric Water Heater, Refrigerator, Electric Oven, Dishwasher, Electric Cooktop
Subdivision
Leisure World (LW)
Lot features
Level with Street, Level, Near Public Transit, 36-40 Units/ Acre, Close to Clubhouse, Sprinkler System
Elementary school district
Saddleback Valley Unified
Middle school district
Saddleback Valley Unified
High school district
Saddleback Valley Unified
Directions
Moulton Parkway to Calle Aragon -Gate 3. Right at Stop sign. 687-B is on the Right
Standard status
Pending
Size
1,275 SF
Taxes and HOA fees
HOA Fee
$828 Monthly
Utilities
Utilities
Phone Available
Sewer type
Public Sewer
Heating system
Zoned, Electric (Heating)
Cooling system
Zoned, Electric, Heat Pump
Water source
Public
Amenities
clubhouse
pool
fitness center
walking paths
private patio
gated community
Building Details
Year built
1968
Floors in Building
1
Number of units
1
Building materials
Stucco
Architectural style
Mediterranean
Listing Agency:
eXp Realty of California Inc
(888) 584-9427
Listed By:
Leland Chesley · License #00919839
(949) 309-6104
Added: Jul 12
Changed: Sep 2
Last Checked: Sep 4 at 3:06AM
MLS# OC26151529
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 1,275-square-foot ground-level residence is offered fully furnished and features an open floor plan, spacious rooms, quartz counters, recessed lighting, and a kitchen equipped with an electric oven, cooktop, refrigerator, dishwasher, and disposal. The home also includes two bedrooms, two bathrooms, a laundry room, zoned electric heating and cooling, and a private patio. Covered carport parking adds convenience.
Built in 1968, the home is located within a gated 55+ community with a clubhouse, pool, fitness center, walking paths, and a creek area for nature walks. Shopping, dining, medical centers, and freeway access are located nearby. Public water and public sewer serve the property.
Built in 1968, the home is located within a gated 55+ community with a clubhouse, pool, fitness center, walking paths, and a creek area for nature walks. Shopping, dining, medical centers, and freeway access are located nearby. Public water and public sewer serve the property.
Key Highlights
- 1,275 SF ground‑level residence offered fully furnished
- Two bedrooms, two bathrooms, kitchen, and laundry room
- Open floor plan with quartz counters and recessed lighting
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
$24,336
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
4.06%
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%
$486,720
$486.7K
Cap Rate 7%
$347,657
$347.7K
Cap Rate 9%
$270,400
$270.4K
Market Conditions
NOI Build-Up for 1,275 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
$45.9K $36.00/SF
− Vacancy
−$1.7K −$1.30/SF
EGI
$44.2K $34.70/SF
− OpEx
−$19.9K −$15.62/SF
NOI
$24.3K $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%
$486,720
Cap Rate 7%
$347,657
Cap Rate 9%
$270,400
Alternative Uses
Best Use
Apartment 5plus
$347.7K
$304.2K – $405.6K
NOI $24,336 @ 7.0% cap · market cap 4.06%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$428.2K
$374.7K – $499.6K
NOI $29,977 @ 7.0% cap · market cap 5.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
560
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 - Open floor plan, spacious rooms, and a private patio support comfortable single-level living.
Where is this residential income property located?
The property is located at 687 Avenida Sevilla Laguna Woods, CA.
What is the asking price?
The asking price for this property is $598,800.
What are key features of this property?
This property features: 1,275 SF ground‑level residence offered fully furnished; Two bedrooms, two bathrooms, kitchen, and laundry room; Open floor plan with quartz counters and recessed lighting
