24092 Gemwood DR Lake Forest, CA 92630
5 Beds
3 Baths
2,351 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Sub Type Single Family Residence
Listing Status Active
Purchase Type For Sale
Square Footage 2,351 sqft
Price per Sqft $744
MLS Listing ID OC26108246
Bedrooms 5
Full Baths 2
HOA Y/N No
Year Built 1965
Lot Size 0.370 Acres
Property Sub-Type Single Family Residence
Property Description
24092 Gemwood Drive presents a rare investment opportunity in one of South Orange County's most sought-after submarkets. Tucked at the end of a quiet cul-de-sac, this single-story ranch sits on a massive 16,113 sqft flat lot, a footprint that's nearly impossible to replicate in today's Lake Forest market and one that opens the door to significant upside potential.
The existing residence offers approximately 2,500 sqft of living space with 5 bedrooms, 2.5 bathrooms, and additional bonus spaces that expand the property's income and use potential, ideal for multi-generational living, ADU conversion, rental income, or a dedicated home office setup. With strong rental demand in the area and limited inventory of lots this size, the income and appreciation upside is substantial.
The grounds deliver immediate lifestyle value while preserving long-term development flexibility. An expansive concrete courtyard framed by mature palms, a dedicated play area, and a custom-built heavy-timber covered pavilion built for large-scale entertaining. The oversized driveway accommodates multiple vehicles, an RV, or toys, a premium feature that commands rental and resale value in this market.
Whether you're looking to hold, expand, add an ADU, reimagine the footprint, or capitalize on Lake Forest's continued appreciation, this property delivers the land, location, and flexibility that serious investors look for. Minutes from top-rated schools, parks, shopping, and dining. Opportunities like this don't last.
Location
State CA
County Orange
Area 699 - Not Defined
Rooms
Main Level Bedrooms 5
Interior
Interior Features All Bedrooms Down, Bedroom on Main Level, Main Level Primary
Heating Central
Cooling Central Air
Fireplaces Type None
Fireplace No
Appliance Gas Range
Laundry Outside
Exterior
Pool None
Community Features Curbs
Utilities Available Electricity Connected, Natural Gas Connected, Phone Connected, Sewer Connected
View Y/N Yes
View Trees/Woods
Private Pool No
Building
Lot Description Irregular Lot
Dwelling Type House
Story 1
Entry Level One
Sewer Public Sewer
Water Public
Level or Stories One
New Construction No
Schools
School District Saddleback Valley Unified
Others
Senior Community No
Tax ID 61721301
Acceptable Financing Cash, Cash to Existing Loan, Cash to New Loan, Conventional, 1031 Exchange, FHA
Listing Terms Cash, Cash to Existing Loan, Cash to New Loan, Conventional, 1031 Exchange, FHA
Special Listing Condition Standard
