
Lake Forest, California 92630
This Turnkey Condominium represents a Strong Value Opportunity, listed at $489,000—positioned well below the $516,308 Fair Market Value by 5%. This valuation gap provides $27,308 in Instant Equity for the buyer. Featuring a Mint Condition Rating with modern wood flooring, a remodeled kitchen, and central HVAC, this home offers a stress-free lifestyle. Located within the Saddleback Valley Unified School District and near the Irvine Spectrum, it is an ideal acquisition for first-time buyers or investors seeking a move-in ready asset.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 22198 Cedar Pointe 1f Subject 2 bd · 1 ba · 957 sqft · $540 | $489,000* List Price | 2 | 1 | 957 | $540 | - |
A 25712 Le Parc Sold 1 bd · 2 ba · 896 sqft · $536 · 0.1 mi | $480,000 | 1 | 2 | 896 | $536 | 0.1 mi |
B 21981 Rimhurst Dr # P-160 P-160 Sold 2 bd · 1 ba · 829 sqft · $609 · 0.2 mi | $505,000 | 2 | 1 | 829 | $609 | 0.2 mi |
C 25712 Le Parc Sold 3 bd · 2 ba · 1,123 sqft · $561 · 0.1 mi | $630,000 | 3 | 2 | 1,123 | $561 | 0.1 mi |
D 25885 Trabuco 172 Sold 2 bd · 2 ba · 1,190 sqft · $512 · 0.2 mi | $609,000 | 2 | 2 | 1,190 | $512 | 0.2 mi |
E 25712 Le Parc 7 Sold 2 bd · 2 ba · 996 sqft · $572 · 0.1 mi | $570,000 | 2 | 2 | 996 | $572 | 0.1 mi |
F 25712 Le Parc 46 Active 2 bd · 1 ba · 852 sqft · $644 · 0.1 mi | $549,000 List Price | 2 | 1 | 852 | $644 | 0.1 mi |
* Subject property listed price vs sold prices of comps.
Property is new construction or fully renovated.
Although built in 1982, the property has undergone a recent comprehensive remodel featuring new wood flooring, fresh interior paint, and updated finishes. The kitchen and bathroom have been modernized with stone countertops and contemporary tiling. The inclusion of central HVAC and its 'turnkey' status aligns with the <5y renovation criteria for mint condition.
The unit is fully move-in ready with modern wood flooring, fresh paint, and a remodeled kitchen that includes all appliances, saving buyers immediate renovation costs.
Situated near the Irvine Spectrum and major transportation corridors, the property offers excellent accessibility and is zoned for the highly-regarded Saddleback Valley Unified School District.
Unlike many older condos, this unit features central air conditioning and heating, a cozy fireplace, and access to community amenities like a pool and spa.
The property has undergone multiple price reductions and has been on the market for 56 days, which may indicate initial overvaluation or decreased buyer demand.
The $510 monthly HOA fee is relatively high for a two-bedroom, one-bathroom unit of this size, potentially impacting the overall affordability for first-time buyers.
Welcome to 22198 Cedar Pointe #1F, a beautifully remodeled upper-level condo located in the desirable Cedar Pointe community of Lake Forest! This move-in ready home offers a wonderful combination of modern upgrades, comfort, and convenience in a fantastic location. Step inside and enjoy a bright and inviting floor plan featuring beautiful wood flooring throughout, fresh interior paint, and updated finishes that create a warm and modern feel. The spacious living area is perfect for relaxing or entertaining and features a cozy fireplace that adds charm and character to the home. The remodeled kitchen offers a clean, updated design with modern features and includes the refrigerator for added convenience. The home also includes a washer and dryer, making this property truly move-in ready. This well-designed floor plan offers two comfortable bedrooms, an updated bathroom, central air conditioning and heating, and a private outdoor space to enjoy the peaceful Cedar Pointe community. Residents enjoy excellent community amenities including a sparkling pool, spa, beautifully landscaped greenbelts, and well-maintained common areas. The HOA provides a low-maintenance lifestyle while maintaining the community's attractive surroundings. Ideally located near shopping, restaurants, parks, entertainment, major freeways, toll roads, and the Irvine Spectrum area. Located within the highly regarded Saddleback Valley Unified School District, this remodeled Lake Forest condo is a fantastic opportunity for first-time buyers, downsizers, or investors looking for a turnkey home in a desirable community.
No exterior & parking available.
Grades K-6 • 0.4 mi
Grades 7-8 • 1.1 mi
Grades 9-12 • 0.6 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 2.0 | 2.1 |
| Baths | 1.0 | 2.0 |
| Square foot | 957 | 1,096.746 |
| Lot Size | 174,115 | 185,385.508 |
| Price | $489.0K | $649.6K |
| Price per sq ft | $511 | $596 |
| Built year | 1982 | 1986 |
| HOA | $510.0 | $502 |
| Days on market | 80 | 57 |
Sep 10, 2026
$489,000
$499,000
-2% Price Drop
Initial Listing
Aug 20, 2026
$499,000
$515,000
-3% Price Drop
Initial Listing
Aug 8, 2026
$515,000
Initial Listing
Aug 6, 2026
$525,000
Initial Listing
Mar 4, 1999
$117,000
Public Record