Wagon Wheel is a small community that rests at the end of Oso Parkway and the south gate of Coto de Caza. This master planned development of approximately 2,000 homes was built in 1996-1998 and boasts one of the “gems” of Orange County because of its “out of the way” feeling of privacy from major commercial conjustion. There are several tracts of homes within its boundaries that include the condominiums and one gated community. It is characterized as being affordable with low tax rates and low association dues. Residents of Wagon Wheel also enjoy top rated Capistrano Unified Schools with Wagon Wheel Elementary and Tesoro High School on each side of the neighborhood. Thomas Riley Wilderness Park provides the heart of Wagon Wheel and offers residents hiking/biking trails, guided nature walks, and ranger station right at their fingertips. It is conveniently located at the base of the 241 Toll Road, and 5 miles from the I5 Freeway.