23551 Avenida La Caza 129, Coto De Caza, California 92679, Coto De Caza, 92679 - 3 bed, 3 bath
ACTIVE$1,049,000$1,780/sqft
23551 Avenida La Caza 129, Coto De Caza, California 92679
3Beds
3Baths
1,780Sqft
124,985Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Exceptional Income Potential & Flexibility: The property is uniquely configured into three separate rental units (1 studio, 2 1BR) with a projected rental income of $7,400 per month, offering significant cash flow potential. It also provides flexible living options, allowing an owner to reside in one unit and rent out the others, or utilize all three.
Top Cons:
High Association Fee: A monthly association fee of $465.0 is a significant ongoing expense that will impact the net operating income and overall profitability for an investor.
Compared to the nearby listings
Price:$1.05M vs avg $1.10M ($-51,000)36%
Size:1,780 sqft vs avg 1,900 sqft27%
Price/sqft:$589 vs avg $58464%
More Insights
Built in 1977 (49 years old).
Condition: Despite being built in 1977, the property has undergone a comprehensive and recent 'NEW NEW NEW' renovation, as explicitly stated in the description and clearly visible in the images. The kitchens feature new white shaker cabinets, quartz countertops, modern stainless steel appliances, and recessed lighting. Bathrooms are fully remodeled with contemporary marble-look tiling, glass shower enclosures, new vanities, and modern fixtures. New vinyl plank flooring is installed throughout, and each unit has its own new AC system (mini-splits are visible). All components appear virtually new and meet current quality standards, aligning perfectly with the 'Excellent' criteria for a property extensively renovated within the last 5 years.
Year Built
1977
Close
-
List price
$1.05M
Original List price
$1.05M
Price/Sqft
$589
HOA
$465
Days on market
-
Sold On
-
MLS number
OC26010781
Home ConditionExcellent
Features
Good View: Park/Greenbelt, Hills, Mountain(s), Pool, Trees/Woods
Deck
Pool
ViewPark/Greenbelt, Hills, Mountain(s), Pool, Trees/Woods
About this home
CASH COW. NEW NEW NEW. New items include: Vinal plank flooring, appliances, cabinets, quartz countertops, can lights, paint, remodeled bathrooms etc etc. Each unit has its own ac system. END UNIT. This is one of the most unique investor opportunities in Orange County. Located in the desirable and prestigious gated community of Coto De Caza, REMODELED condo with a original design configuration into 3 separate rental units. 1 studio and 2 1br units. These unique Village town homes do not come available that often because they offer so many possibilities. Ideal location with a view of the pool and green belt. Two separate units located on 2nd floor. Each unit has its own ensuite. Cash Cow. The projected rental income for three units is $7,400 per month or someone can live in all 3 units as it has an inside stair system or you can live in the main unit and rent the other 2 out. Ample natural light flows throughout the home. Two car attached garage and two additional parking spots. No Mello Roos. Coto De Caza offers hiking and walking trails, parks, and membership opportunities for golf and tennis. Priced 70k below appraisal for fast sale.
C
Chris Shepard
Listing Agent
Condition Rating
Excellent
Despite being built in 1977, the property has undergone a comprehensive and recent 'NEW NEW NEW' renovation, as explicitly stated in the description and clearly visible in the images. The kitchens feature new white shaker cabinets, quartz countertops, modern stainless steel appliances, and recessed lighting. Bathrooms are fully remodeled with contemporary marble-look tiling, glass shower enclosures, new vanities, and modern fixtures. New vinyl plank flooring is installed throughout, and each unit has its own new AC system (mini-splits are visible). All components appear virtually new and meet current quality standards, aligning perfectly with the 'Excellent' criteria for a property extensively renovated within the last 5 years.
Pros & Cons
Pros
Exceptional Income Potential & Flexibility: The property is uniquely configured into three separate rental units (1 studio, 2 1BR) with a projected rental income of $7,400 per month, offering significant cash flow potential. It also provides flexible living options, allowing an owner to reside in one unit and rent out the others, or utilize all three.
Extensive Recent Renovation: The property boasts 'NEW NEW NEW' updates including vinyl plank flooring, appliances, cabinets, quartz countertops, can lights, paint, and remodeled bathrooms, ensuring a modern and move-in ready condition for tenants or owner-occupants.
Prestigious Gated Community Location: Located in the desirable and prestigious gated community of Coto De Caza, offering a high quality of life with access to hiking/walking trails, parks, and membership opportunities for golf and tennis, all without Mello Roos taxes.
Individual AC Systems & End Unit Advantage: Each of the three units is equipped with its own AC system, providing individual climate control. As an end unit, it benefits from increased privacy, more natural light, and fewer shared walls.
Priced Below Appraisal: The property is explicitly stated to be priced $70,000 below appraisal, presenting an immediate equity opportunity for the buyer and indicating strong value.
Cons
High Association Fee: A monthly association fee of $465.0 is a significant ongoing expense that will impact the net operating income and overall profitability for an investor.
Potential for Regulatory/Financing Challenges: The conversion of a single townhouse into three separate rental units, while offering income potential, may present challenges with local zoning regulations, permitting, HOA rules, or securing conventional financing that typically applies to single-family or standard multi-family properties.
Age of Core Building Systems: Despite extensive interior renovations, the property was built in 1977. While cosmetic updates are new, core building systems such as plumbing, electrical, and roofing may still be original or older, potentially leading to higher maintenance costs or future capital expenditures.