
Mission Viejo, California 92692
This Stunning Move-In Ready Penthouse is listed at $1,380,000, reflecting a premium valuation above its $1,246,345 Fair Market Value. While priced above current estimates, the property offers an Excellent Condition Rating following a high-end remodel, featuring a gourmet kitchen and spa-inspired bathrooms. Residents enjoy a premier lifestyle with panoramic lake views, private beach access, and resort-style amenities within a guard-gated community. Located in the Capistrano Unified School District, this residence provides a sophisticated, turnkey sanctuary. It is the ideal fit for discerning professionals or luxury-focused owner-occupants seeking an unmatched waterfront lifestyle.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 22506 Formentor Subject | $1,380,000* List Price | 2 | 2 | 1,444 | $863 | - |
A 22486 Petra Sold | $1,130,000 | 2 | 2 | 1,444 | $783 | 0.0 mi |
B 27794 Deya Sold | $1,131,000 | 2 | 2 | 1,221 | $926 | 0.2 mi |
C 27805 Barbate 15 Sold | $1,094,900 | 2 | 2 | 1,333 | $821 | 0.7 mi |
D 22402 Valdemosa 19 Sold | $1,295,000 | 3 | 3 | 1,874 | $691 | 0.1 mi |
E 22526 Petra 22 Active Under Contract | $1,150,000 List Price | 2 | 2 | 1,444 | $796 | 0.1 mi |
* Subject property listed price vs sold prices of comps.
Property is new construction or fully renovated.
The property has undergone a comprehensive high-end remodel, featuring a modern gourmet kitchen with quartz countertops and new stainless-steel appliances, along with fully renovated spa-inspired bathrooms. Despite the 1981 build date, the interior is in mint, turnkey condition with updated flooring and premium finishes, indicating a renovation within the last 5 years.
This premier penthouse offers exceptional, unobstructed views of Lake Mission Viejo, mountains, and city lights from every room and two private balconies.
The residence features a redesigned gourmet kitchen with quartz countertops and high-end finishes, along with spa-inspired renovated bathrooms, ensuring a move-in-ready experience.
Located in the guard-gated Mallorca community, residents enjoy private beach access, pools, and full Lake Mission Viejo membership benefits including boating and concerts.
The property was recently sold within the past year on 2025-11-07. The sold price is $1,100,000.00.
The $754 monthly HOA fee is relatively high, which increases the total cost of ownership and may impact buyer affordability.
Listed at $1.38M for 1,444 square feet, the property commands a significant premium that may challenge appraisals or limit the pool of value-conscious buyers.
Welcome to 22506 Formentor—an extraordinary penthouse offering one of the most spectacular views on Lake Mission Viejo. Perched in a premier location within the exclusive guard-gated Mallorca community, this exceptional residence captures breathtaking panoramic views stretching across the lake, sandy beaches, boat docks, rolling hills, majestic mountains, and sparkling city lights. Every room is perfectly positioned to showcase the ever-changing beauty of Lake Mission Viejo. Beautifully remodeled and impeccably maintained, this turnkey home blends timeless elegance with modern comfort. The redesigned gourmet kitchen features custom cabinetry, quartz countertops, new stainless-steel appliances, and a sunny breakfast nook that opens to its own private view balcony. The spacious living room is highlighted by a cozy fireplace and expansive sliding doors leading to a large outdoor deck where the stunning scenery becomes part of everyday living. The open-concept dining area is flooded with natural light, creating the perfect setting for entertaining while enjoying uninterrupted waterfront views. Throughout the home, refined finishes include crown molding, raised-panel doors, updated flooring, and designer touches that elevate every space. The luxurious bathrooms have been beautifully renovated with custom cabinetry, elegant stone countertops, premium fixtures, and spa-inspired finishes, creating peaceful retreats that complement the home's sophisticated style. Two private view balconies invite you to relax with your morning coffee or unwind as the sun sets over the lake and city lights begin to sparkle. Two-car garage. Residents of Mallorca enjoy resort-style amenities including pools, spas, and direct access to a private beach on Lake Mission Viejo. Membership to the lake offers year-round recreation including boating, fishing, paddleboarding, swimming, summer concerts, movies under the stars, beachfront picnic areas, barbecues, clubhouse activities, and more. This is more than a home—it's one of Lake Mission Viejo's most coveted penthouses, where breathtaking views, luxurious upgrades, and an unmatched waterfront lifestyle come together in a truly exceptional residence. laundry area. Two relaxing view decks for your enjoyment, in a Guard gated community.
No exterior & parking available.
Grades K-5 • 1.7 mi
Grades 6-8 • 2.6 mi
Grades 6-8 • 4.6 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 2.0 | 2.0 |
| Baths | 2.0 | 2.0 |
| Square foot | 1,444 | 1,369 |
| Lot Size | 215,746 | 70,876 |
| Price | $1.38M | $736.2K |
| Price per sq ft | $956 | $608 |
| Built year | 1981 | 1983 |
| HOA | $754.0 | $444 |
| Days on market | 14 | 55 |
Jul 8, 2026
$1,380,000
Initial Listing
Nov 7, 2025
$1,100,000
Public Record
Sep 11, 2009
$640,000
Public Record
Oct 20, 2006
$810,000
Public Record