27865 Mazagon, Mission Viejo, California 92692, Mission Viejo, 92692 - 2 bed, 2 bath
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Mission Viejo, California 92692
This Upgraded Lake-View Condominium is a Prime Investment Opportunity, listed at $679,888—positioned well below the $700,799 Fair Market Value by 2%. This valuation gap provides $20,911 in Instant Equity. Boasting a Condition Rating of 3, the interior features Granite Countertops and cathedral ceilings, while the exterior offers Panoramic Lake Views. Located in the Capistrano Unified School District near Castille Elementary and Carl Hankey Middle, residents enjoy private lake access and resort amenities. This is a perfect match for Owner-Occupants or first-time buyers.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 27865 Mazagon Subject | $679,888* List Price | 2 | 2 | 1,255 | $558 | - |
A 22422 Porreras 7 Sold | $800,000 | 2 | 2 | 1,477 | $542 | 0.9 mi |
B 23224 Coso Sold | $635,000 | 2 | 2 | 1,269 | $500 | 0.3 mi |
C 27722 Campanet Sold | $875,000 | 2 | 2 | 1,286 | $680 | 0.6 mi |
D 27794 Deya 8 Sold | $859,000 | 2 | 2 | 1,221 | $704 | 0.8 mi |
E 23247 Cherry Hills # 46 Sold | $832,600 | 2 | 2 | 1,462 | $569 | 0.1 mi |
F 27941 Chiclana 81 Active | $799,999 List Price | 2 | 2 | 1,240 | $645 | 0.1 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
The property is move-in ready and well-maintained with significant upgrades including granite countertops, stainless steel GE Profile appliances, and updated fixtures. While the 1978 build date is reflected in the cabinetry style and overall architecture, the home has been renovated within the last 15 years and shows no signs of deferred maintenance, meeting the criteria for a well-functioning, updated living space.
Priced approximately $200,000 below comparable homes in the area, this property represents a rare equity opportunity for motivated buyers in a competitive market.
The home boasts stunning, unobstructed views of the lake, mountains, and city lights from multiple vantage points, including the primary suite and living room balconies.
Located in an exclusive gated community, residents benefit from private lake access, a swimming pool, and rare amenities like a boat dock and boat storage.
The monthly HOA fee of $608 is relatively high, which increases the total carrying cost and may impact the purchasing power of budget-conscious buyers.
The third bedroom is a loft space rather than a traditional enclosed room, which may lack the privacy required by some families or long-term guests.
***BACK ON MARKET!!! ACT FAST***VIEW & PRICE!! Incredible opportunity—priced more than $200,000+ BELOW comparable homes in community! The seller is highly motivated, creating a RARE chance to own a panoramic lake, mountain, and city light view home at an exceptional value. Beautifully upgraded and move-in ready, the home features an open floor plan with soaring cathedral ceilings that create a bright and airy living space. The living room offers a fireplace and balcony access where you can relax and enjoy the stunning views. The kitchen includes granite countertops, GE Profile gas range, microwave, trash compactor, abundant cabinetry, under-cabinet lighting, and a breakfast nook with lake views. The spacious primary bedroom features a private lake-view balcony and walk-in closet, while the versatile loft can easily serve as a third bedroom, home office, or flex space. Located in an exclusive gated lake community offering private lake access, swimming pool, boat dock, and boat storage for year-round enjoyment. Rare combination of spectacular views, soaring ceilings, and an exceptional price—don’t miss this opportunity!
No exterior & parking available.
Grades K-5 • 1.1 mi
Grades 6-8 • 1.8 mi
Grades 6-8 • 3.9 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 2.0 | 2.0 | 50% |
| Baths | 2.0 | 2.0 | 50% |
| Square foot | 1,255 | 1,333 | 29% |
| Lot Size | 854,021 | 4,752 | 95% |
| Price | $679.9K | $850.0K | 17% |
| Price per sq ft | $542 | $609 | 22% |
| Built year | 1978 | 1989 | 15% |
| HOA | $608.0 | $549 | 56% |
| Days on market | 40 | 166 | 2% |
Mar 13, 2026
$679,888
Initial Listing
Mar 29, 2019
$475,000
Public Record
Nov 10, 2016
$431,000
Public Record
Mar 16, 2012
$295,000
Public Record
Mar 21, 2011
$250,000
Public Record