28938 Paseo Caravella, Mission Viejo, California 92692, Mission Viejo, 92692 - 3 bed, 2 bath

28938 Paseo Caravella, Mission Viejo, California 92692 home-pic-0

28938 Paseo Caravella

Mission Viejo, California 92692

ACTIVE
CONDITION: FAIR
3Beds
2Baths
1,695Sq Ft
Lot Size

Property Price

LIST PRICE$874,000

SUMMARY

Analysis of 28938 Paseo Caravella, Mission Viejo, California 92692 is currently available with a list price of $874,000. The property maintains a Fair Condition Rating (50/100), suggesting the property is in acceptable condition with potential for value enhancement through selective updates and improvements. Located in a high-demand neighborhood within the Mission Viejo Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for both Buy-and-Hold Investors and Owner-Occupants willing to undertake light renovation work.

Condition Analysis

OVERALL CONDITION SCORE

Fair
TeardownExcellent

Property is moderate renovation needed.

Built in 1998, this property is well-maintained and move-in ready but shows its age with original late-90s features. The kitchen and bathrooms contain dated white tile countertops and older white appliances. While the home benefits from being re-piped and having hard surface flooring, it lacks the recent comprehensive renovations necessary to meet the 'good' or 'excellent' criteria.

PROSSTRENGTHS & OPPORTUNITIES

  • Premier 55+ Lifestyle & Amenities

    Located in the prestigious guard-gated Palmia community, this home offers access to resort-style amenities including two pools, a putting course, tennis courts, and a clubhouse, fostering an active and secure lifestyle.

  • Rare Parking & End-Unit Privacy

    As a single-level end unit, the property provides enhanced privacy and natural light, further distinguished by a rare full-sized two-car driveway in addition to the two-car garage.

  • Significant Infrastructure Value

    The home has been fully re-piped and features no Mello-Roos assessments, offering long-term financial benefits and peace of mind regarding major maintenance concerns.

CONSRISKS & DEFICIENCIES

  • High Monthly Carrying Costs

    The association fee of $740 per month is substantial and may be a deterrent for buyers on a fixed income or those sensitive to high recurring monthly expenses.

  • Modified Bedroom Configuration

    The removal of a wall in the third bedroom to open it to the kitchen creates a non-traditional layout that may require additional investment to restore if a private third bedroom is desired.

About 28938 Paseo Caravella

Bring All Offers! Beautiful 3 Bedroom, 2 Bath, Single-level End Unit home with a much sought after Full-sized, 2-car Driveway located in the very desirable 55+ Guard Gated community of Palmia in Mission Viejo. A wall in the third bedroom was removed, opening it to the spacious Kitchen. The door to the room from the hallway, as well as the closet, remains in place. The room could easily be converted back to a private bedroom or continue to be used as a TV room or dining area. This home features plenty of natural light with shutters and blinds throughout. The expansive Eat-in Kitchen features a gas range & convenient Island. The Primary Bedroom includes a ceiling fan and access to the large outdoor space via a sliding glass door. The Primary Bath features dual sinks and a walk-in shower with no step. Other features include a fireplace in Living Room, high ceilings, hard surface/tile flooring and recessed lighting throughout. The separate inside laundry room includes plenty of cabinets and a utility sink. The 2-car garage can be accessed directly from inside the home. The home has been re-piped and has no Mello-Roos. The Association clubhouse and amenities includes 2 pools, spa, putting course, tennis, activities, cable service and more.

Property Details

Public Facts

Property Type
Condominium
Year Built
1998
Lot Size
-

Interior

Total Bedrooms
3
Total Bathrooms
2 (2 Full, 0 Half)

Exterior & Parking

No exterior & parking available.

Utilities & Misc

HOA Fee
$740.0 / Month

Neighborhood Insights

Mission Viejo Unified Schools

Melinda Heights Elementary School

Grades K-6 • 0.6 mi

8/10

Rancho Santa Margarita Intermediate School

Grades 7-8 • 2.2 mi

7/10

Trabuco Hills High School

Grades 9-12 • 1.5 mi

8/10

Sensitive Facilities

No sensitive facilities data found.

Neighborhood Comparison

FeatureSubjectAverage HomeNeighborhood Ranking (50 Listings)
Beds3.02.0
80%
Baths2.02.0
50%
Square foot1,6951,369
89%
Lot Size-61,502
34%
Price$874.0K$874.0K
50%
Price per sq ft$516$606
11%
Built year19981987
80%
HOA$740.0$609
86%
Days on market65157
11%

Pricing History

Listed for Sale

Mar 3, 2026

$874,000

$899,900

-3% Price Drop

Initial Listing

Price Change

Jan 31, 2026

$899,900

$959,900

-6% Price Drop

Initial Listing

Price Change

Jan 1, 2026

$959,900

Initial Listing

Sold

Nov 17, 2020

$575,000

Public Record

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