Remodeled Residential Income
For Sale
$525,000
766 Calle Aragon, Laguna Woods, CA 92637
Laguna Woods, CA
Property Size1,040 SF
Lot Size0.02 Acres
Price / SF$504.81
Days on Market173
Property Features for 766 Calle Aragon
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
2
Bathrooms
2
Rooms
Bathroom 2, Bedroom 1, Bedroom 2, Laundry Room, Bathroom 1
Parking features
Carport
Spa
1
Window features
Double Pane Windows
Interior features
Quartz Counters, Granite Counters
Appliances
Electric Range, Dishwasher
Subdivision
Leisure World (LW)
Lot features
Close to Clubhouse
Elementary school district
Saddleback Valley Unified
Middle school district
Saddleback Valley Unified
High school district
Saddleback Valley Unified
Directions
Gate 1 off El Toro Rd. Left on calle Aragon and left at the first cul de sac. On the right side past the carports. It is the back right unit on the right side of the building.
Standard status
Active
Size
1,040 SF
Lot size
0.02 Acres
Taxes and HOA fees
HOA Fee
$826 Monthly
Utilities
Utilities
Cable Available
Heating system
Ductless (Heating)
Cooling system
Ductless
Water source
Public
Building Details
Year built
1964
Floors in Building
1
Number of units
16
Flooring type
Vinyl, Tile
Building materials
Stucco
Roof type
Composition
Architectural style
Mediterranean
Listing Agency:
Laguna Premier Realty Inc.
(949) 900-6930
Listed By:
Bonnie Fullerton · License #01442529
(949) 294-9702
Added: Apr 4
Changed: Sep 22
Last Checked: Sep 23 at 2:06PM
MLS# OC26200860
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 Mediterranean-style residence was renovated throughout with updated electrical wiring and plumbing, luxury vinyl flooring, energy-efficient windows, ductless Daikin mini-splits, and dual-function roller blinds. The kitchen includes custom soft-close cabinetry, pull-out pantry drawers, granite counters, and a Samsung appliance package with a smart refrigerator, electric range, dishwasher, and microwave. A hallway GE stackable washer and dryer adds everyday convenience. Both bathrooms feature remodeled vanities, tiled showers, and tile flooring, while the guest bedroom includes a queen-size Murphy bed. The primary bedroom has two windows, and the home also includes a carport, public water, cable availability, and a composition roof.
Located at 766 Calle Aragon in Laguna Woods, the residence is near Clubhouse 1 and the community’s gym, ballroom, pool hall, meeting rooms, and drop-in lounge. The property was built in 1964 and includes a spa.
Located at 766 Calle Aragon in Laguna Woods, the residence is near Clubhouse 1 and the community’s gym, ballroom, pool hall, meeting rooms, and drop-in lounge. The property was built in 1964 and includes a spa.
Key Highlights
- 1,040‑square‑foot residential property at 766 Calle Aragon, Laguna Woods, CA 92637
- Renovated electrical wiring, plumbing, bathrooms, kitchen, flooring, windows, and climate‑control systems
- Two‑bedroom layout with a queen‑size Murphy bed in the guest bedroom
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
3.78%
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 3.78%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$349.3K
$305.7K – $407.5K
NOI $24,452 @ 7.0% cap · market cap 4.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
2,103
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
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Frequently Asked Questions
What type of property is this?
Residential income property - Renovated two-bedroom residence with updated systems, flexible guest space, and access to extensive community amenities.
Where is this residential income property located?
The property is located at 766 Calle Aragon Laguna Woods, CA.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: 1,040‑square‑foot residential property at 766 Calle Aragon, Laguna Woods, CA 92637; Renovated electrical wiring, plumbing, bathrooms, kitchen, flooring, windows, and climate‑control systems; Two‑bedroom layout with a queen‑size Murphy bed in the guest bedroom
