237 Montana Del Lago Drive, Rancho Santa Margarita, California 92688, Rancho Santa Margarita, 92688 - 3 bed, 3 bath
Loading property details...
Rancho Santa Margarita, California 92688
This Rare Lakefront Detached Condo is a Prime Investment Opportunity, listed at $1,099,000—positioned well below the $1,144,376 Fair Market Value by 3%. This valuation gap offers $45,376 in Instant Equity. Featuring a Mint, Turnkey Condition Rating, the residence showcases a remodeled stone kitchen, dark wood floors, and a rare versatile basement for flexible living. With a panoramic lakefront view and proximity to Top-Rated Schools in the Saddleback Valley Unified District, this home balances financial upside with premium living. It is the perfect fit for Owner-Occupants or growing families.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 237 Montana Del Lago Drive Subject | $1,099,000* List Price | 3 | 3 | 1,603 | $711 | - |
A 15 Paseo Vespertino Sold | $1,140,000 | 3 | 3 | 1,493 | $764 | 1.0 mi |
B 9 Paseo Acebo Sold | $1,080,000 | 4 | 3 | 1,662 | $650 | 0.7 mi |
C 12 Paseo Vecino Sold | $1,095,000 | 4 | 3 | 1,651 | $663 | 1.0 mi |
D 36 Paseo Brezo Pending | $1,124,900 List Price | 4 | 3 | 1,835 | $613 | 0.6 mi |
* Subject property listed price vs sold prices of comps.
Property is new construction or fully renovated.
The property is in mint, turnkey condition following a comprehensive recent renovation. Key updates include a new HVAC system installed in 2019, all-new stone countertops, new stainless steel appliances, and fully upgraded bathrooms. The interior features modern dark wood flooring and high-end finishes throughout, requiring no immediate maintenance.
This property offers a rare direct view of the Rancho Santa Margarita Lake and is situated within walking distance to the swimming lagoon, local shops, and dining, providing an exceptional lifestyle value.
The home is move-in ready with high-end finishes including rich dark wood floors, a remodeled kitchen with stone countertops and stainless steel appliances, and tastefully upgraded bathrooms.
The inclusion of a basement—a rare feature for the area—provides significant flexibility to be used as a fourth bedroom, home office, gym, or media room to suit various buyer needs.
The property has a small lot size, more than 70 percent of which is taken by its living area. lot size in square feet = 2000, living area = 1603.
With a lot size of approximately 2,000 square feet, the private outdoor area is limited to a small slate-tiled courtyard, which may not satisfy buyers looking for a traditional large backyard.
While the home is physically detached, its legal status as a condo involves monthly association fees and specific community restrictions that may deter buyers seeking fee-simple single-family ownership.
Rare Lakefront View Property — Entertainer’s Paradise - A truly rare opportunity to own one of the few properties with a direct view of the beautiful RSM Lake. This exceptional detached condo offers a highly desirable location just steps from the lake, swimming lagoon, shops, restaurants, and the very best of Rancho Santa Margarita living. Beautifully upgraded throughout, the home features 3 bedrooms plus a basement that could easily serve as a 4th bedroom, office, gym, media room, or flexible living space. The interior is warm, elegant, and move-in ready, with rich dark wood floors throughout, upgraded baseboards, plantation shutters, custom paint, custom light fixtures, surround sound, and a welcoming fireplace. The kitchen has been thoughtfully enhanced with custom cabinetry, all-new stone countertops, and new stainless steel appliances, creating a refined and functional space for everyday living and entertaining. The bathrooms have also been tastefully upgraded, adding to the home’s polished, turnkey appeal. The spacious primary suite includes a walk-in closet, while additional conveniences include the refrigerator, washer and dryer, LeafFilter rain gutter system, new A/C installed in 2019, and storage cabinets in the garage. The backyard is a private and meticulous retreat, finished with elegant gray slate tile and a beautiful fountain—perfect for relaxing, dining outdoors, or entertaining guests. With its rare lake-view setting, upgraded interior, flexible floor plan, and walkable lifestyle location, this is a truly special property offering comfort, style, and convenience in one of Rancho Santa Margarita’s most desirable settings. Property is considered a detached condo.
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 | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 4.0 | 47% |
| Baths | 3.0 | 3.0 | 50% |
| Square foot | 1,603 | 1,970 | 31% |
| Lot Size | 2,000 | 4,413.5 | 1% |
| Price | $1.10M | $1.25M | 23% |
| Price per sq ft | $686 | $657 | 63% |
| Built year | 1998 | 1993 | 85% |
| HOA | $240.0 | $91 | 95% |
| Days on market | 44 | 134 | 10% |
Apr 30, 2026
$1,099,000
Initial Listing
Dec 31, 2019
$615,000
Public Record
Jul 2, 2013
$525,000
Public Record
Jul 31, 2009
$500,000
Public Record
Jul 31, 1998
$195,000
Public Record