REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
$ 1,699,900
Est. payment /mo
Price Dropped by $50K
24092 Gemwood Drive Lake Forest, CA 92630
6 Beds
3 Baths
0.37 Acres Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID OC26124776
Bedrooms 6
Lot Size 0.370 Acres
Property Sub-Type Res Income 2-4 Units
Property Description
Rare Single-Story Estate on a Massive 16,113 Sq Ft Cul-de-Sac Lot in Lake Forest | Endless Space, Privacy & Future Potential Located at the end of a quiet cul-de-sac in one of South Orange Countys most desirable neighborhoods, 24092 Gemwood Drive presents a truly rare opportunity to own a spacious, versatile estate with exceptional land value and long-term potential. This single-story ranch-style residence offers approximately 2,500 sq ft of living space, featuring 5 bedrooms and 2.5 bathrooms, along with additional flexible areas ideal for a home office, guest quarters, or multi-generational living. The functional layout provides comfort, privacy, and adaptability for a wide range of lifestyles. Set on a fully usable flat lot of 16,113 sq ft, the outdoor space is a standout feature rarely found in todays market. The grounds include mature palm trees, fruit trees, a large concrete courtyard, a dedicated play area, and a custom-built covered pavilion designed for large gatherings and entertaining. The oversized driveway accommodates 15+ vehicles, making it an ideal property for car enthusiasts or collectors, while also offering ample space for RVs, boats, trailers, and additional recreational storage. A major highlight of this property is its exceptional development flexibility. The lot offers strong potential for the addition of multiple ADUs (Accessory Dwelling Units) or other expansion options (buyer to verify zoning, permits, and city requirements), making it ideal for multi-generational living, rental income strategies, or long-term investment growth. Historically utili
Location
State CA
County Orange
Zoning Assessor
Direction From the I-5 Freeway, El Toro Rd north, right on Rockfield, right on Landsview, Right on Penfield, left on Gemwood, turn left on
Interior
Cooling Central Forced Air
Fireplace No
Exterior
View Y/N No
Building
Story 1
Level or Stories 1
Others
Senior Community No
Tax ID 61721301
Acceptable Financing Cash, Conventional, Exchange, FHA
Listing Terms Cash, Conventional, Exchange, FHA
Listed by Reza Shirangi, DRE#01293969 The Oppenheim Group
GET MORE INFORMATION