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Listed by Reza Shirangi • The Oppenheim Group
$ 1,699,900
Est. payment /mo
Price Dropped by $50K
24092 Gemwood Drive 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 $723
MLS Listing ID OC-26108246
Bedrooms 5
Full Baths 2
Year Built 1965
Lot Size 0.370 Acres
Property Sub-Type Single Family Residence
Source California Regional Multiple Listing Service (CRMLS)
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 County's 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 today's 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 utilized in an institutional capacity, this unique property offers exceptional versatility and may lend itself to a variety of uses, including multi-generational living, a residential care facility (RCFE) or senior residence, childcare or educational purposes, live/work arrangements, wellness or creative spaces, or contractor and service-based operations, subject to applicable zoning, licensing, and permitting requirements.
Despite its privacy and spacious feel, the property remains conveniently located near top-rated schools, parks, shopping, dining, and major commuter routes.
Properties offering this level of land, usability, parking for 15+ vehicles, and future potential are extremely rare in Lake Forest. This is a unique opportunity to secure both lifestyle comfort and long-term upside in one exceptional estate.
Located at the end of a quiet cul-de-sac in one of South Orange County's 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 today's 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 utilized in an institutional capacity, this unique property offers exceptional versatility and may lend itself to a variety of uses, including multi-generational living, a residential care facility (RCFE) or senior residence, childcare or educational purposes, live/work arrangements, wellness or creative spaces, or contractor and service-based operations, subject to applicable zoning, licensing, and permitting requirements.
Despite its privacy and spacious feel, the property remains conveniently located near top-rated schools, parks, shopping, dining, and major commuter routes.
Properties offering this level of land, usability, parking for 15+ vehicles, and future potential are extremely rare in Lake Forest. This is a unique opportunity to secure both lifestyle comfort and long-term upside in one exceptional estate.
Location
State CA
County Orange
Interior
Heating Central
Cooling Central Air
Fireplaces Type None
Laundry Outside
Exterior
Pool None
Community Features Curbs
Utilities Available Sewer Connected, Electricity Connected, Natural Gas Connected, Phone Connected
View Y/N Yes
View Trees/Woods
Building
Lot Description Irregular Lot
Sewer Public Sewer