$1,525,000
●
Condo -
Off Market
1 Rainbow Falls
Irvine, CA 92603
3 Beds
2 Baths,
1
Half Bath
2,359 Ft²
$8,000
Est. Monthly
$757
HOA / Fees
3.17%
Cap Rate
About This Property
Calling all investors, flippers, and visionaries-this is the
opportunity you've been waiting for! Priced well below market
value, 1 Rainbow Falls in Irvine offers incredible potential for
anyone ready to bring their imagination and a little TLC. This
end-unit, multi-level home features 3 bedrooms plus a den/office, a
direct-access 2-car garage, and a large front yard overlooking the
park. Inside, you'll find Corian countertops, European-style
cabinetry, white appliances, and plantation shutters throughout.
The bright, airy layout includes an eat-in kitchen and a downstairs
home office with peaceful park views. Located in a quiet and
private area with easy access to shopping, dining, and trails, this
property is also zoned for University High School-one of
California's and the nation's top-rated schools. Whether you're
looking to renovate and flip or create your dream home, this is
your chance to own in one of Irvine's most desirable neighborhoods
at an unbeatable price. Hurry-opportunities like this don't last
long!
Unit Size
2,359 Ft²
Days on Market
11 days
Land Size
0.84 acres
Price per sqft
$625
Property Type
Condo
Property Taxes
-
HOA Dues
$757
Year Built
-
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Cap Rate Calculator
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Cap Rate
100% Occupancy
N/A (extreme outlier) What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Last updated: 12 months ago (CRMLS #PW25247759)
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Nov 10, 2025 | Sold | ||
| Sold | |||
| Oct 27, 2025 | Listed by Real Broker | $1,475,000 | |
| Listed by Real Broker | |||
Property Highlights
Garage
Air Conditioning
Fireplace
With View
Parking Details
Has Garage
Attached Garage
Parking Features: Direct Access, Garage Faces Front, Garage
Garage Spaces: 2
Interior Details
Half Bathrooms: 1
Full Bathrooms: 2
Interior Features: Cathedral Ceiling(s), High Ceilings, Open Floorplan, Walk-In Closet(s), Balcony, BreakfastArea, SeparateFormalDiningRoom, MultipleStaircases, AllBedroomsUp, PrimarySuite
Appliances: Dishwasher, Gas Oven, Gas Range, Microwave, Water Heater
Flooring Type: Carpet, Tile
Laundry Features: Inside, Laundry Room
Has Fireplace
Fireplace Features: Family Room
Exterior Details
Has Property Attached
Square Footage: 2359
Square Footage Source: $0
Security Features: Carbon Monoxide Detector(s), Smoke Detector(s)
Property Condition: Fixer
Year Built Source: Public Records
Year Built: 1976
Levels: Multi/Split
Window Features: Plantation Shutters
Pool Features: Private, Association
Pool is Private
Lot Features: ZeroToOneUnitAcre
Lot Size Area: 36693
Lot Size Units: Square Feet
Lot Size Acres: 0.8424
Lot Size Square Feet: 36693
Tax Lot: 4
Water Source: Public
Utilities Details
Cooling Type: Central Air
Heating Type: Central
Sewer : Public Sewer
Location Details
HOA/Condo/Coop Amenities: Maintenance Grounds, Management, Picnic Area, Playground, Pool, Spa/Hot Tub, CallForRules, OutdoorCookingArea
HOA Fee: $637
HOA Fee Frequency: Monthly
Condo/Coop Fee: $120
Condo/Coop Fee Frequency: Monthly
Comparables
Unit
Status
Status
Type
Beds
Baths
ft²
Price/ft²
Price/ft²
Asking Price
Listed On
Listed On
Closing Price
Sold On
Sold On
HOA + Taxes
Past Sales
| Date | Unit | Beds | Baths | Sqft | Price | Closed | Listed By |
|---|---|---|---|---|---|---|---|
|
10/27/2025
| |
3 Bed
|
2 Bath
|
2359 ft²
|
$1,475,000
3 Bed
2 Bath
2359 ft²
|
$1,525,000
+3.39%
11/10/2025
|
Chris Kwon
Real Brokerage Technologies
|
Building Info
About Turtle Rock
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Listed by: Chris Kwon, Real Broker
Last Updated: 12 months ago
Data Source: CRMLS, MLS# PW25247759
Last Updated: 12 months ago
Data Source: CRMLS, MLS# PW25247759
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