
Rancho Santa Margarita, California 92688
This Direct Lakefront Condominium is a Prime Investment Opportunity, listed at $509,999—positioned well below the $524,854 Fair Market Value by 2%. This valuation gap offers $14,855 in Instant Equity. Maintaining a Condition Rating of 3, the interior features a Renovated Kitchen with stone countertops and modern wood-look flooring. Residents enjoy a Direct Lakefront View and access to Saddleback Valley Unified Schools and resort-style SAMLARC amenities. This turnkey home is ideal for first-time buyers or Owner-Occupants seeking immediate value.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 7 Brisa Ribera Subject | $509,999* List Price | 1 | 1 | 841 | $624 | - |
A 7 Via Tortuga Sold | $535,000 | 1 | 1 | 804 | $665 | 0.0 mi |
B 57 Brisa Ribera Sold | $524,900 | 1 | 1 | 841 | $624 | 0.1 mi |
C 27 Castano Sold | $430,000 | 1 | 1 | 692 | $621 | 0.7 mi |
D 59 Via Honrado Sold | $580,000 | 2 | 2 | 832 | $697 | 0.4 mi |
E 37 Leonado Sold | $582,000 | 2 | 2 | 876 | $664 | 0.6 mi |
F 34 Via Esperanza Sold | $399,000 | 1 | 1 | 781 | $511 | 0.3 mi |
G 21 Silktassel Active Under Contract | $499,999 List Price | 1 | 1 | 742 | $674 | 0.3 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
The property is move-in ready and shows pride of ownership. Although built in 1986, the interior has been updated with modern wood-look flooring, a renovated kitchen featuring stainless steel appliances and stone countertops, and updated bathroom fixtures. The home is well-maintained with no visible deferred maintenance, fitting the criteria for a property that has undergone significant updates within the last 5 to 15 years.
Living area discrepancy between mls listing and other public or private record. mls listing living area = 841, other record living area = 804.
Welcome to resort-style living on the lake in Rancho Santa Margarita! This beautifully maintained 1-bedroom, 1-bath condo offers the perfect blend of comfort, convenience, and an unbeatable lakeside lifestyle. Nestled just steps from the water, you’ll enjoy serene lake views from your patio, with direct access to the scenic lake path right outside your door. Enjoy the 4th of July firework show from your patio! Inside, the home features a bright, open-concept layout with abundant natural light, a spacious living area and a private retreat-style bedroom. This unit offers plenty of storage and a spacious 1 car attached garage. Whether you’re a first-time buyer, downsizing, or looking for an investment opportunity, this condo delivers low-maintenance living in a highly desirable location. Residents enjoy exclusive access to an impressive array of resort-style amenities through the SAMLARC HOA; including community pools, volleyball courts, tennis courts, pickleball courts, beautifully maintained parks, scenic trails, and multiple clubhouses. The private Brisa Del Lago neighborhood offers its own community pool and 2 spas. Spend your weekends relaxing or playing at the private Lago Santa Margarita Beach Club & Lagoon, a true centerpiece of the community. Location is everything—and this one is hard to beat. Take a peaceful 5-minute stroll along the lake path to local favorites like Carmelita’s, The Blind Pig, and everyday conveniences at Ralphs shopping center. Enjoy lakefront living with walkability, vibrant community amenities, and the relaxed Southern California lifestyle you’ve been dreaming of. This is more than a home—it’s a lifestyle. Schedule a tour today! This one won't last.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 1.0 | 2.0 | 23% |
| Baths | 1.0 | 2.0 | 30% |
| Square foot | 841 | 1,010 | 35% |
| Lot Size | 26,135 | 18,514 | 59% |
| Price | $510.0K | $650.0K | 25% |
| Price per sq ft | $606 | $655 | 28% |
| Built year | 1986 | 1990 | 10% |
| HOA | $521.0 | $452 | 85% |
| Days on market | 68 | 170 | 12% |
Mar 25, 2026
$509,999
$519,999
-2% Price Drop
Initial Listing
Mar 17, 2026
$519,999
$529,999
-2% Price Drop
Initial Listing
Feb 13, 2026
$529,999
Initial Listing
Jul 15, 2021
$455,000
Public Record
Sep 30, 2019
$368,500
Public Record
Aug 9, 2004
$325,000
Public Record