
Rancho Santa Margarita, California 92688
This Turnkey Condominium is a Strong Value Opportunity, listed at $675,000—positioned slightly above the $673,489 Fair Market Value. Featuring a Condition Rating of 3, this home offers peace of mind with recent 2025 repiping and a new water heater. Residents enjoy a premium lifestyle with direct-access garage, expansive side balcony, and access to RSM Beach Club and top-rated schools. Its move-in ready status and proximity to scenic trails make this an ideal acquisition for first-time buyers or owner-occupants seeking a stable, low-maintenance residence.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 8 Dorado Subject | $675,000* List Price | 2 | 2 | 1,050 | $641 | - |
A 1 Via Garceta Sold | $725,000 | 2 | 2 | 1,010 | $718 | 0.7 mi |
B 7 Cetrino Sold | $610,000 | 2 | 2 | 1,102 | $554 | 0.1 mi |
C 20 Carmesi Sold | $667,000 | 2 | 2 | 1,058 | $630 | 0.1 mi |
D 27 Via Lavendera Sold | $660,000 | 2 | 2 | 1,025 | $644 | 0.6 mi |
E 6 Dianthus Sold | $635,000 | 2 | 2 | 1,000 | $635 | 0.7 mi |
F 130 Morning Glory Sold | $710,000 | 2 | 2 | 1,072 | $662 | 0.6 mi |
G 13 Brisa Del Lago Sold | $675,000 | 1 | 1 | 869 | $777 | 0.6 mi |
H 2 Carmesi Active Under Contract | $630,000 List Price | 2 | 2 | 1,049 | $601 | 0.1 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
Although built in 1989, the property is well-maintained and move-in ready with significant recent system updates, including a 2025 repiping and new water heater. The kitchen has been refreshed with updated countertops and appliances, and the interior shows no signs of deferred maintenance.
The property features significant recent maintenance updates, including full repiping completed in 2025 and a new water heater, reducing the risk of immediate capital expenditures for the buyer.
Unlike many condominiums in the area, this unit offers the convenience and security of a direct-access garage with ample storage, a highly sought-after feature in this price point.
The unique combination of a front patio and an expansive side balcony provides exceptional outdoor space with scenic mountain and sunset views, enhancing the home's livability.
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =52155, other record lot size in square feet = 94499. Living area discrepancy between mls listing and other public or private record. mls listing living area = 1050, other record living area = 888.
The $482 monthly association fee represents a significant recurring expense that may impact the overall affordability and debt-to-income ratio for prospective buyers.
Being situated on the second floor may limit the property's appeal to buyers with mobility concerns or those specifically seeking ground-level entry.
Welcome to this beautifully maintained 2 bedroom, 2 bathroom condo in the highly desirable community of Rancho Santa Margarita. This inviting home offers a great combination of comfort, convenience, and an exceptional lifestyle in one of South Orange County’s most sought after communities. The updated kitchen features refreshed countertops and sink, updated appliances, and a brand new dishwasher. Additional recent improvements include a new water heater, and repiping completed in 2025. The thoughtfully maintained interior is move in ready and provides a comfortable space to call home. The primary suite offers generous space, a large en-suite bathroom, and a walk-in closet. The second bedroom is also spacious and versatile, easily accommodating both a sleeping area and a home office setup. Uniquely positioned on the second floor, this condo enjoys a premium location within the community. A welcoming front patio and an expansive side balcony provide multiple outdoor living spaces, ideal for relaxing or entertaining while taking in beautiful mountain, sunset, and garden views. One of the rare features of this home is direct access to the garage with ample storage. Ideally located close to the playground and a nearby pool, this home also offers exceptional convenience with close proximity to major shopping, dining, and entertainment. Enjoy being within walking distance of the scenic Rancho Santa Margarita Lake, perfect for evening strolls, dining, and enjoying the vibrant local atmosphere. Residents enjoy an exceptional array of amenities, including access to the RSM Beach Club, 13 parks, multiple community pools, playgrounds, and sports courts. Miles of hiking and biking trails are nearby, with scenic O’Neill Regional Park just minutes away. Ideally situated near top-rated schools, shopping, dining, and convenient access to the 241 Toll Road, this home offers the perfect blend of comfort, convenience, and the vibrant Rancho Santa Margarita lifestyle.
No exterior & parking available.
Grades PK-6 • 0.8 mi
Grades 7-8 • 0.2 mi
Grades 9-12 • 3.5 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 2.0 | 2.0 |
| Baths | 2.0 | 2.0 |
| Square foot | 1,050 | 1,077.857 |
| Lot Size | 52,155 | 27,342.776 |
| Price | $675.0K | $691.6K |
| Price per sq ft | $643 | $631 |
| Built year | 1989 | 1990 |
| HOA | $482.0 | $466 |
| Days on market | 22 | 54 |
Aug 18, 2026
$675,000
Initial Listing
Jun 25, 2007
$369,000
Public Record
Apr 22, 2005
$381,000
Public Record
Aug 31, 2000
$168,000
Public Record