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Irvine,CA 92620
Key Details
Property Type Townhouse
Sub Type Townhouse
Listing Status Active
Purchase Type For Sale
Square Footage 1,115 sqft
Price per Sqft $617
Subdivision The Lakes
MLS Listing ID OC-25170169
Style Traditional
Bedrooms 1
Full Baths 1
Half Baths 1
HOA Fees $344/mo
Year Built 1978
Lot Size 764 Sqft
Property Sub-Type Townhouse
Property Description
Secure Rental Income from Day One in Irvine! This upgraded 1-bedroom townhome with a separate office or den is located in The Lakes--a peaceful community surrounded by mature trees, flowing streams, and scenic walkways. The property is currently leased through June 30, 2026, with reliable tenants paying $2,725/month, providing immediate cash flow with an estimated cap rate of approximately 3.82%, based on actual income and expenses. Market proforma rent is approximately $2,900/month, offering solid rental upside over time. The unit offers the advantage of no neighbors above or below and the bonus of a rare fenced patio with upgrades like a retractable awning, stone pavers, and raised planter boxes. Inside, the home features a remodeled kitchen with quartz countertops and stainless steel appliances, both bathrooms remodeled with plenty of storage, and elegant touches like recessed lighting, ceiling fans, crown molding, paneled wainscoting, paneled doors, two-tone paint, completely remodeled interiors, hardwood flooring, and wrought iron stair railings. Additional highlights include energy-efficient central heating and air conditioning, dual-pane windows, and a full suite of appliances--refrigerator, washer, and dryer--all of which are included in the sale. The Lakes community offers exceptional amenities: two pools, two spas, two tennis courts, and lush landscaped paths along tranquil water features. Located within the highly rated Irvine Unified School District, this property is also just minutes from shopping, dining, freeway access, and several scenic trails including Hicks Canyon Trail and the Jeffrey Open Space Trail. There are no Mello-Roos taxes, making this an even more appealing long-term investment. One assigned covered carport parking space is included, with additional guest and street parking available. HOA dues cover water, sewer, trash, and exterior maintenance--making this an easy-to-manage investment. Whether you're adding to a portfolio or seeking a turnkey rental in one of Orange County's most desirable markets, this property checks all the boxes.
Location
State CA
County Orange
Area Nw - Northwood
Interior
Interior Features Ceiling Fan(s),Chair Railings,Granite Counters,Recessed Lighting,Wainscoting,Remodeled Kitchen
Heating Central
Cooling Central Air
Flooring Carpet,Tile,Wood
Fireplaces Type None
Inclusions Washer / Dryer and Refrigerator
Laundry Dryer Included,In Closet,Inside,Stackable,Upper Level,Washer Included
Exterior
Exterior Feature Awning(s)
Parking Features Assigned,Carport,Covered
Pool Association,Community,Fenced,Gunite,Heated,In Ground
Community Features Lake,Sidewalks,Street Lights
Utilities Available Sewer Connected,Water Connected,Cable Connected,Electricity Connected,Natural Gas Connected,Phone Connected
View Y/N No
View None
Building
Lot Description Landscaped,Rectangular Lot,Yard,Back Yard
Sewer Public Sewer,Sewer Paid
Schools
Elementary Schools Santiago Hills
Middle Schools Sierra Vista
High Schools Northwood
Others
Virtual Tour https://tours.previewfirst.com/ml/133782