BACK ON MARKET! Buyer did not perform, no fault of the seller!
Welcome to 42 Picazo #29 in the highly desirable Las Flores II community of Rancho Santa Margarita — a completely remodeled, move-in ready ground-level home that blends comfort, style, and convenience.
This beautifully upgraded 2-bedroom, 2-bath residence offers 773 square feet of thoughtfully designed living space. Every detail has been refreshed, creating a truly turnkey opportunity for its next owner. The kitchen shines with elegant countertops, stainless steel appliances, a gas range, and modern finishes that make both cooking and entertaining a pleasure. Fresh interior paint, luxury vinyl plank flooring, recessed lighting, and ceiling fans in both bedrooms add to the home’s clean, contemporary feel. Both bathrooms feature upgraded vanities with quartz countertops, delivering a cohesive and stylish look throughout.
Enjoy the ease of indoor laundry with a stackable washer and dryer conveniently located inside the unit. The ground-level layout provides seamless accessibility, and the dedicated carport parking space adds everyday convenience.
One of the home’s most charming features is the enclosed front porch, tucked behind a sweet white picket gate — the perfect spot for morning coffee, evening relaxation, or welcoming guests. Just steps away, you’ll find easy access to a peaceful greenbelt, offering additional space to unwind outdoors.
Located approximately half a mile from Lake Rancho Santa Margarita, residents enjoy access to year-round amenities including summer concerts, holiday celebrations, fishing, hiking, biking trails, lakeside recreation, tennis and pickleball courts. The Las Flores II community offers fantastic amenities including a sparkling pool, sauna, barbecue area, fire pit, clubhouse.
Rancho Santa Margarita is one of Orange County’s most beloved planned communities, known for its abundant parks, scenic walking trails, and beautiful lake-centered lifestyle. This home offers not just a place to live, but a vibrant and welcoming community to be part of.
Turnkey, stylish, and ideally located — 42 Picazo #29 is ready to welcome you home.
Sold for $515,000
Listing Provided by: Bullock Russell RE Services
Bought with: Coldwell Banker Realty
$515,000
42 Picazo #29, Rancho Santa Margarita, CA 92688
2beds
773sqft
Condominium
Built in 1987
-- sqft lot
$514,600 Zestimate®
$666/sqft
$2,865 Estimated rent
Home value
$514,600
$473,000 - $556,000
$2,865/mo
Zestimate® history
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$3,620/mo
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Sparkling poolModern finishesElegant countertopsFresh interior paintThoughtfully designed living spaceBarbecue areaStainless steel appliances
Zillow last checked:
Listing updated:
Listing Provided by:
Jonathan Mesisca DRE #02245483 626-524-7508,
Bullock Russell RE Services,
Jim Holder DRE #02046378 949-933-4673,
Bullock Russell RE Services
Bought with:
Neda Ghazvini, DRE #01938544
Coldwell Banker Realty
Anamaria Reed, DRE #02054711
Coldwell Banker Realty
Source: CRMLS,MLS#: OC26030340
Originating MLS: California Regional MLS
Originating MLS: California Regional MLSFacts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 2
- Bathrooms: 2
- Full bathrooms: 2
- Main level bathrooms: 2
- Main level bedrooms: 2
Bedroom
- Features: All Bedrooms Down
Bathroom
- Features: Laminate Counters, Remodeled, Tub Shower, Upgraded
Kitchen
- Features: Laminate Counters, Remodeled, Self-closing Cabinet Doors, Self-closing Drawers, Updated Kitchen
Heating
- Central
Cooling
- Central Air, Dual
Appliances
- Included: Dishwasher, Disposal, Gas Oven, Gas Range, Microwave, Refrigerator, Water Heater, Dryer, Washer
- Laundry: Inside, Laundry Closet
Features
- Ceiling Fan(s), Laminate Counters, Recessed Lighting, All Bedrooms Down
- Flooring: Vinyl
- Has fireplace: Yes
- Fireplace features: Gas, Living Room
- Common walls with other units/homes: 2+ Common Walls,No One Below
Interior area
- Total interior livable area: 773 sqft
Property
Parking
- Total spaces: 2
- Parking features: Assigned, Carport, Public, One Space, Uncovered
- Carport spaces: 1
- Uncovered spaces: 1
Accessibility
- Accessibility features: Accessible Doors
Features
- Levels: One
- Stories: 1
- Entry location: 1
- Patio & porch: Concrete, Enclosed, Front Porch
- Pool features: Community, In Ground, Association
- Has spa: Yes
- Spa features: Association, Community, In Ground
- Fencing: None
- Has view: Yes
- View description: Park/Greenbelt, Neighborhood
- Waterfront features: Across the Road from Lake/Ocean, Lake Privileges
Lot
- Features: Greenbelt, Near Park
Details
- Parcel number: 93195421
- Special conditions: Standard
- Horse amenities: Riding Trail
Construction
Type & style
- Home type: Condo
- Architectural style: Mediterranean,Spanish
- Property subtype: Condominium
- Attached to another structure: Yes
Materials
- Concrete, Stucco
- Foundation: Slab
- Roof: Spanish Tile
Condition
- Updated/Remodeled,Turnkey
- New construction: No
- Year built: 1987
Utilities & green energy
- Electric: 220 Volts in Laundry, Standard
- Sewer: Public Sewer
- Water: Public
- Utilities for property: Cable Connected, Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
Community & neighborhood
Security
- Security features: Carbon Monoxide Detector(s), Smoke Detector(s)
Community
- Community features: Biking, Curbs, Dog Park, Fishing, Golf, Gutter(s), Hiking, Horse Trails, Lake, Street Lights, Suburban, Sidewalks, Park, Pool
Location
- Region: Rancho Santa Margarita
- Subdivision: Las Flores (R2) (Lf)
HOA & financial
HOA
- Has HOA: Yes
- HOA fee: $399 monthly
- Amenities included: Call for Rules, Clubhouse, Sport Court, Dog Park, Fire Pit, Maintenance Grounds, Meeting Room, Outdoor Cooking Area, Barbecue, Picnic Area, Playground, Pickleball, Pool, Pet Restrictions, Sauna, Spa/Hot Tub, Trail(s)
- Association name: Las Flores II
- Association phone: 949-716-3998
- Second HOA fee: $92 monthly
- Second association name: Samlarc
- Second association phone: 949-709-0010
Other
Other facts
- Listing terms: Cash,Conventional,FHA,Submit,VA Loan
- Road surface type: Paved
Price history
| Date | Event | Price |
|---|---|---|
| 4/17/2026 | Sold | $515,000$666/sqft |
Source:  CRMLS #OC26030340 Report a problem | ||
| 3/15/2026 | Contingent | $515,000$666/sqft |
Source: CRMLS #OC26030340 Report a problem | ||
| 3/7/2026 | Listed for sale | $515,000$666/sqft |
Source: CRMLS #OC26030340 Report a problem | ||
| 3/4/2026 | Contingent | $515,000$666/sqft |
Source: CRMLS #OC26030340 Report a problem | ||
| 2/26/2026 | Listed for sale | $515,000+9.6%$666/sqft |
Source: CRMLS #OC26030340 Report a problem | ||
| 4/12/2024 | Sold | $470,000+129.3%$608/sqft |
Source: Public Record Report a problem | ||
| 5/30/2008 | Sold | $205,000+2.6%$265/sqft |
Source: Public Record Report a problem | ||
| 4/11/2008 | Listed for sale | $199,900-38.1%$259/sqft |
Source: Prudential California Report a problem | ||
| 4/8/2005 | Sold | $323,000+61.5%$418/sqft |
Source: Public Record Report a problem | ||
| 4/21/2003 | Sold | $200,000+29%$259/sqft |
Source: Public Record Report a problem | ||
| 9/24/2001 | Sold | $155,000+38.4%$201/sqft |
Source: Public Record Report a problem | ||
| 5/10/2000 | Sold | $112,000$145/sqft |
Source: Public Record Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $5,016 +79.7% | $479,400 +81.6% |
| 2024 | $2,791 +3.2% | $263,982 +2% |
| 2023 | $2,705 +1.7% | $258,806 +2% |
| 2022 | $2,659 +18.5% | $253,732 +2% |
| 2021 | $2,243 -13.4% | $248,757 +1% |
| 2020 | $2,589 | $246,207 +2% |
| 2019 | $2,589 -9.9% | $241,380 +2% |
| 2018 | $2,875 +0.3% | $236,648 +2% |
| 2017 | $2,866 | $232,008 +2% |
| 2016 | $2,866 -7.1% | $227,459 +1.5% |
| 2015 | $3,084 -0.9% | $224,043 +2% |
| 2014 | $3,111 | $219,655 +18.6% |
| 2013 | -- | $185,180 |
| 2012 | -- | $185,180 -6% |
| 2011 | -- | $197,000 -3.9% |
| 2010 | -- | $205,000 |
| 2009 | -- | $205,000 -25.6% |
| 2008 | -- | $275,500 -18% |
| 2007 | -- | $335,945 +2% |
| 2006 | -- | $329,358 +34.5% |
| 2005 | -- | $244,800 +2% |
| 2004 | -- | $240,000 +51.8% |
| 2003 | -- | $158,100 +2% |
| 2002 | -- | $155,000 +35.7% |
| 2001 | $1,909 +5.8% | $114,240 +5.8% |
| 2000 | $1,805 | $108,000 |
Find assessor info on the county website
Neighborhood: 92688
Nearby schools
GreatSchools rating
- 7/10Cielo Vista Elementary SchoolGrades: K-6Distance: 0.3 mi
- 7/10Rancho Santa Margarita Intermediate SchoolGrades: 7-8Distance: 0.2 mi
- 10/10Trabuco Hills High SchoolGrades: 9-12Distance: 3.5 mi
Schools provided by the listing agent
- Elementary: Cielo Vista
- Middle: Rancho Santa Margarita
- High: Trabucco Hills
Source: CRMLS. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
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Estimated market value
$514,600
Get a cash offer in 3 minutes
Find out how much your home could sell for in as little as 3 minutes with a no-obligation cash offer.
Estimated market value
$514,600
- California
- Orange County
- Rancho Santa Margarita
- 92688
- 42 Picazo Unit 29
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