
Lake Forest, California 92630
This Strong Value Opportunity is a well-maintained condominium listed at a List Price of $425,000—positioned well below the $469,218 Fair Market Value by 9%. This valuation gap provides $44,218 in Instant Equity. Featuring a Condition Rating of 4, the unit offers a functional layout with cathedral ceilings and a private balcony overlooking the community pool. Located in the Saddleback Valley Unified district, this property is an ideal acquisition for Buy-and-Hold Investors or first-time buyers seeking a low-maintenance, value-add asset in Lake Forest.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 23292 Orange Avenue 6 Subject | $425,000* List Price | 2 | 1 | 928 | $506 | - |
A 23216 Orange Avenue 6 Sold | $355,000 | 1 | 1 | 685 | $518 | 0.0 mi |
B 22722 Malaga Sold | $505,000 | 2 | 1 | 873 | $578 | 0.7 mi |
C 23224 Orange Avenue 5 Active | $375,000 List Price | 1 | 1 | 724 | $518 | 0.0 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1980, this property is well-maintained but dated. The kitchen features painted original-style cabinetry and laminate countertops, and the unit utilizes a wall-mounted AC rather than central HVAC. While move-in ready, the finishes and systems are over 20 years old, requiring cosmetic updates to meet modern standards.
The upper-level location paired with cathedral ceilings creates an open, airy ambiance that enhances the perceived square footage and living comfort.
The association fee includes water, trash, fire insurance, and exterior maintenance, offering a simplified, low-maintenance lifestyle for owners and investors.
Unlike many condos in this price range, this unit features a private balcony with a dedicated laundry room for full-size appliances and a view overlooking the community pool.
Living area discrepancy between mls listing and other public or private record. mls listing living area = 928, other record living area = 834.
The $658 monthly HOA fee is relatively high for the area and price point, which may impact buyer affordability and overall investment yield.
The 2-bedroom, 1-bath configuration can be a drawback for roommates or small families, potentially limiting the pool of interested buyers or tenants.
Welcome to this well-maintained upper-level condominium in the desirable Aliso Creek Villas community. This 2-bedroom, 1-bath home features a functional floor plan with cathedral ceilings that create a spacious living area. The living room opens to a private balcony with an adjacent laundry room accommodating a full-size electric washer and dryer. The kitchen offers ample cabinet and counter space and opens to the dining area, creating a practical layout for everyday living. Both bedrooms offer large closets, while an additional storage closet off the living room provides generous space for seasonal items, household essentials, or extra belongings. The interior features vinyl windows, laminate wood, vinyl, and tile flooring, ceiling fans, mirrored closet doors, and a wall-mounted air conditioner. Surrounded by mature trees, the home enjoys a cool, shaded setting with refreshing breezes that enhance comfort throughout the living spaces and balcony. The private balcony overlooks the community pool, which is just steps away. The home also includes a covered carport and an additional unassigned parking space. The HOA provides added value by including water, trash, basic fire insurance, and exterior and grounds maintenance. Conveniently located near shopping, restaurants, parks, schools, and major commuter routes, this home is an excellent opportunity for first-time buyers, downsizers, or investors seeking low-maintenance living in the heart of Lake Forest.
No exterior & parking available.
Grades 7-8 • 0.5 mi
Grades 9-12 • 2.0 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 2.0 | 2.0 |
| Baths | 1.0 | 2.0 |
| Square foot | 928 | 1,092 |
| Lot Size | - | 91,110.5 |
| Price | $425.0K | $658.2K |
| Price per sq ft | $458 | $606 |
| Built year | 1980 | 1988 |
| HOA | $658.0 | $424 |
| Days on market | 22 | 50 |
Jun 30, 2026
$425,000
Initial Listing
Mar 15, 2007
$300,000
Public Record
May 17, 2001
$134,000
Public Record
Sep 1, 1998
$77,000
Public Record
Oct 16, 1996
$56,500
Public Record