46 Picazo
Rancho Santa Margarita, CA, 92688
$489,900
2 Beds
1 Baths
618 SqFt
0.5 Acres
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MLS #OC26113214 image #0
Welcome Home to Your Happy Place!
Imagine stepping into a bright, beautifully renovated single-story condo where every detail feels warm, fresh, and thoughtfully cared for. This charming downstairs end-unit is more than just a home — it’s where memories are made and life feels easier and brighter. With low HOA dues of only $399 and an FHA-approved complex, this home opens the door to so many beautiful possibilities.

Completely renovated in 2019 this home has been lovingly updated even more recently for ultimate comfort: New refrigerator, wide-plank Dusk Cherry flooring (extreme scratch-resistant), and fresh paint in 2026. New A/C, heater, washer, and dryer in 2025

You’ll love the modern kitchen and updated bathroom that make everyday living feel like a pleasure. Best of all, there are no stairs to climb, and your assigned parking spot (#28) is right next to the unit — making coming home something you truly look forward to.

Live the Rancho Santa Margarita Dream. Just steps away, enjoy three community spas and a pool. A gentle half-mile walk (under 10 minutes) brings you to the sparkling RSM Lake, charming shops, cozy cafés, restaurants, and an even shorter walk to playgrounds, basketball court, tennis court, and park.

Cielo Vista Elementary and RSM Middle School are literally across the street — perfect for growing families. This is a neighborhood where kids ride bikes, neighbors wave hello, and you feel a true sense of belonging.

As part of the coveted SAMLARC community, you’ll have access to an incredible resort-style lifestyle: 4 pools (2 heated year round), a Beach Club & Lagoon, 8 pickleball courts, 12 tennis courts, sand volleyball, clubhouses, parks, trails, and so much more — all designed to bring joy and connection into your daily life.

If you’re ready to stop searching and start living somewhere that feels like you — warm, welcoming, and full of life — come see 46 Picazo. This isn’t just a condo. It’s where your next chapter begins. Be sure to click on the 3D Virtual Tour!

Property Details

Price:
$489,900
MLS #:
OC26113214
Status:
Active
Beds:
2
Baths:
1
Type:
Condo
Subtype:
Condominium
Subdivision:
Las Flores R2 LF
Neighborhood:
r1ranchosantamargaritanorth
Listed Date:
May 26, 2026
Finished Sq Ft:
618
Lot Size:
21,835 sqft / 0.50 acres (approx)
Year Built:
1988
Mediterranean, SpanishParking TotalR1 – Rancho Santa Margarita NorthR1ranchosantamargaritanorthLas Flores R2 LfSaddleback Valley UnifiedCielo VistaRancho Santa MargaritaTrabucco HillsMountain(s)

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Schools

School District:
Saddleback Valley Unified
Elementary School:
Cielo Vista
Middle School:
Rancho Santa Margarita
High School:
Trabucco Hills

Interior

Appliances
DW, RF, GR, FSR, _6BS, GWH
Bathrooms
1 Full Bathroom
Cooling
CA
Flooring
LAM
Heating
CF
Laundry Features
GAS, IN, DINC, WH, WINC
Levels
A
Main Level Bathrooms
1
Main Level Bedrooms
2

Exterior

Architectural Style
MED, SPN
Common Walls
_2CW
Community Features
SDW, SUB, CRB, LAKE, PARK, FISH
Direction Faces
N
Fencing
NO
Parking Spots
1
Parking Total
1
Patio And Porch Features
CON, PTO, PO, POF
Security Features
SD, COD
Spa Features
AS, IG, COM
View
MT
Window Features
BLI, SCR

Financial

HOA Fee
$399
HOA Fee 2
$91
HOA Fee 2 Frequency
MO
HOA Fee Frequency
MO

Map

Community

Market Summary

Current real estate data for Condo in Rancho Santa Margarita as of Jun 14, 2026
56
Condo Listed
47
Avg DOM
675
Avg $ / SqFt
$668,961
Avg List Price

Property Summary

    Located in the Las Flores (R2) (LF) subdivision, 46 Picazo Rancho Santa Margarita CA is a Condo for sale in Rancho Santa Margarita, CA, 92688. It is listed for $489,900 and features 2 beds, 1 baths, and has approximately 618 square feet of living space, and was originally constructed in 1988. The current price per square foot is $793. The average price per square foot for Condo listings in Rancho Santa Margarita is $675. The average listing price for Condo in Rancho Santa Margarita is $668,961.

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