Irvine, CA92620
| 1115 sqft | MLS# OC25170248
Tract: The Lakes (LK)
For Sale $688,800
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.
Facts
| Built in 1978 | Lot Size: 764.00 sqft | HOA Dues: $344/month
Features
Ceiling Fan(s),Crown Molding,Granite Counters,Recessed Lighting,Wainscoting
Listing provided by Richard Wamsat, Coldwell Banker Realty
Based on information from California Regional Multiple Listing Service, Inc. as of July 31, 2025. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
