
Rancho Santa Margarita, California 92688
This Waterfront Condominium represents a Strong Value Opportunity, listed at $899,000—positioned well above the $842,292 Fair Market Value by -6%. While priced at a premium, the property maintains a Good Condition Rating with significant upgrades, including a renovated primary shower and Milgard windows. Residents enjoy a premier lifestyle with panoramic lake views, access to the Beach Club Lagoon, and proximity to top-rated schools like Trabuco Mesa Elementary. This residence is an ideal acquisition for Owner-Occupants or lifestyle-focused buyers seeking a turnkey, serene lakeside retreat.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 169 Montana Del Lago Drive Subject | $874,900* List Price | 3 | 2 | 1,344 | $622 | - |
A 92 Montana Del Lago Sold | $664,322 | 3 | 2 | 1,131 | $587 | 0.0 mi |
B 205 Montana Del Lago Drive Sold | $1,015,000 | 4 | 3 | 1,603 | $633 | 0.0 mi |
C 6 Vista Cielo Sold | $789,000 | 2 | 3 | 1,275 | $619 | 0.5 mi |
D 19 Vista Colinas Sold | $785,000 | 3 | 3 | 1,275 | $616 | 0.5 mi |
E 6 Leonado Sold | $625,000 | 2 | 2 | 1,102 | $567 | 0.4 mi |
F 27 Via Lavendera Sold | $660,000 | 2 | 2 | 1,025 | $644 | 0.2 mi |
G 1 Via Garceta Sold | $725,000 | 2 | 2 | 1,010 | $718 | 0.3 mi |
H 81 Via Barcelona Sold | $750,000 | 3 | 2 | 1,206 | $622 | 0.8 mi |
I 12 Montana Del Lago Drive 168 Active | $765,000 List Price | 3 | 2 | 1,344 | $569 | 0.1 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
Although built in 1991, the property is well-maintained and move-in ready due to significant recent updates. Key improvements include a renovated contemporary primary shower, high-quality Milgard windows and sliding doors, newer carpeting, and fresh interior paint. While the kitchen is described as open-concept and functional, the overall level of maintenance and specific system upgrades (windows/locks) elevate it to the 'Good' category despite the building's age.
Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 3, other record bedroom count = 2.
Lakefront!!! Spectacular panoramic lake views, an attached side-by-side two-car garage, and a highly desirable upper-level floor plan with all bedrooms and main living areas on one level make this an exceptional offering in one of Rancho Santa Margarita’s most sought-after communities. Wake each morning to tranquil lake views from the primary suite and enjoy picturesque vistas from the living room, dining area, kitchen, balcony, and an additional bedroom. More than just a beautiful view, the exceptional waterfront setting creates an atmosphere of serenity that enhances everyday living. Thoughtfully updated throughout, the home features a beautifully renovated contemporary primary shower, newer carpeting, fresh interior paint, upgraded lighting, a smart entry lock, Milgard windows, and a Milgard sliding glass door. The open-concept kitchen flows seamlessly into the dining and living areas, maximizing the home’s stunning waterfront setting. The lake-view balcony is the perfect place to enjoy your morning coffee, read a favorite book, or simply relax while overlooking the sparkling waters of Santa Margarita Lake. Residents enjoy Montana Del Lago’s recently renovated pool, along with SAMLARC amenities including the Beach Club Lagoon, multiple pools, parks, playgrounds, sports courts, fishing, scenic walking paths, community events, summer concerts, and holiday celebrations. Ideally located near shopping, dining, parks, and trails, this exceptional home offers the perfect blend of waterfront living, thoughtful updates, and everyday convenience. A home where spectacular views and an exceptional lifestyle become part of everyday living.
No exterior & parking available.
Grades PK-6 • 0.4 mi
Grades 7-8 • 0.4 mi
Grades 9-12 • 3.8 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 3.0 | 2.0 |
| Baths | 2.0 | 2.0 |
| Square foot | 1,344 | 1,077.857 |
| Lot Size | - | 27,342.776 |
| Price | $874.9K | $691.6K |
| Price per sq ft | $651 | $631 |
| Built year | 1991 | 1990 |
| HOA | $648.0 | $466 |
| Days on market | 91 | 54 |
Sep 3, 2026
$874,900
$899,000
-3% Price Drop
Initial Listing
Jul 17, 2026
$899,000
$925,000
-3% Price Drop
Initial Listing
Jun 10, 2026
$925,000
Initial Listing
Feb 11, 2011
$400,000
Public Record
Dec 21, 2001
$262,000
Public Record