18711 Paseo Picasso
About This Property
Step through the contemporary double-door entry into an inviting, open floor plan brimming with abundant natural light. Cathedral ceilings and an open-concept main living and dining area create an airy and spacious atmosphere. The textured wood/tiled, modern fireplace in the living room serves as the elegant focal point. Hardwood flooring throughout the home. Enjoy seamless indoor-outdoor living with two sliding doors in the courtyard areas, perfect for entertaining in the California sunshine.
Highlights include a private side yard with a side gate and fencing, offering a serene retreat. The Master Suite is a sanctuary, featuring a master bathroom with dual sink countertops and a separate, sophisticated shower.
Nestled in a peaceful cul-de-sac, within a great neighborhood, this residence is just a short stroll from award-winning Turtle Rock Elementary, University High School, and the University of California, Irvine. Additionally, enjoy close proximity to John Wayne Airport, Newport Coast, world-renowned beaches, South Coast Plaza, and premier shopping and dining destinations. Low HOA dues cover access to a playground, pool, spa/hot tub, and the luxury of NO Mello Roos.
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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.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Aug 20, 2024 | Sold | ||
| Sold | |||
| Aug 8, 2024 | In contract | - | |
| In contract | |||
| Jul 17, 2024 | Listed by Advanced Real Estate Agency Inc | $1,730,000 | |
| Listed by Advanced Real Estate Agency Inc | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017