Calling all investors!!! This is the perfect flip property well

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Condo Active Under Contract

26 Leonado

Rancho Santa Margarita, California 92688

Orange County

Community: Belflora (BLF)

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$499,888 2 br, 2.0 bath 1050 sq. ft. 1.197 acres

Calling all investors!!! This is the perfect flip property well below turnkey market value. Seller prefers cash buyer for easiest transaction. It is a downstairs end unit 2-bedroom, 2-bathroom with one car attached garage. This unit needs most items: The bones appear good! For sure it needs all new carpet, interior paint and kitchen appliances. Likely you will want to either repaint or replace all kitchen and bathroom cabinets, replace toilets and resurface or replace faded tubs. Condition of water heater and ac unknown. Seller says no condenser but was told when he bought it that pre-wire was there. Looks near neighbor condenser off back patio. Water heater was replaced at one point. This home sits in the highly desirable Belflora community of Rancho Santa Margarita. The HOA re-piped the community this this unit not long ago. From the moment you step inside, you'll appreciate the open, functional design, cozy fireplace, and natural light. The deep, attached 1-car garage with direct access adds everyday convenience. Located just steps from RSM Lake, you'll enjoy iconic Saddleback Mountain views, lakefront dining, and serene walks. Residents have access to the Lago Santa Margarita Beach Club with its sandy beach lagoon, watercraft rentals, BBQ areas, volleyball, and more. The HOA also includes 13 parks, multiple pools, pickleball, tennis, sports courts, and community events year-round. RSM has been ranked as a safest city in California--offering a walkable, active lifestyle with shops, restaurants, coffee houses, and parks all close by. Whether it's kayaking on the lake, playing a quick game of pickleball, or relaxing at the beach club, every day feels like a getaway. And if commuting, you'll appreciate quick access to the 241 Toll Road and a short drive to the coast. This isn't just a smart find--it's the prefect blank canvas for a savvy investor! Come see why!

Interior:
  • Bedrooms: 2
  • Baths: 2.0
  • Sq Ft: 1050
  • Year Built: 1989
  • Utilities: 
  • Fireplaces: 
  • Stories: 1
  • Heat/AC: 
  • Garage: 
Exterior:
  • Lot Size: 1.197 acre
  • Lot Dimensions: 
  • View Types: None
  • Yard: 
  • Siding: 
  • Roof: 
  • Yearly HOA Fee: $5,424
  • MLS #: OC25263922
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Contact Information:
Beach Condo Active Under Contract in Rancho Santa Margarita, California
Listing Agent: Kimberly Krones, Reliant Realty, 949-795-2000, 949-795-2000 Listing Site, Listing Status: Active Under Contract
Copyright © 2025 California Regional Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Ad Number: 6861819
Viewed 6 times.
Updated: Nov 21, 2025

This property is a Condo located at 26 Leonado, Rancho Santa Margarita, California 92688, and is currently Active Under Contract at $499,888. This Condo has 2 bedrooms, 2.0 baths, 1050 sq ft.