Price Reduced! Secure day-one rental income in Irvine at just $669,000, more than $50,000 below today’s market value. The most recent comparable sale in the community closed last year at $700,000. With a conservative appreciation of 1.73% over the last 12 months, that value is about $712,000 today. Adding this home’s extra half bath and superior upgrades brings fair market value closer to $727,000. At $669,000, you step in with instant equity. A long-term tenant is already in place, paying $2,725/month through June 30, 2026. That means immediate income with no vacancy risk. With current market rent closer to $2,900/month, there is built-in upside when the lease renews. This townhome 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 granite 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. 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. The Lakes is a tranquil community of mature trees, streams, and walking paths, with amenities that include pools, spas, and tennis courts. Its central Irvine location is close to freeways, business hubs, shopping, and award-winning schools, making it a desirable spot for long-term rental stability. This is an ideal fit for 1031 exchange buyers or investors seeking a turnkey, low-maintenance property with secure cash flow and appreciation potential in one of Southern California’s strongest rental markets.
Days on market: 31
Listing updated: August 31, 2025 - 12:26:08
Listed by: Richard Wamsat DRE #01345167 949-552-2000, Coldwell Banker Realty - Orange County
Source: Orange County, MLS#: I130 Originating MLS: CRMLS
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