11081 Iris Drive, Garden Grove, California 92840, Garden Grove, - bed, bath

home-pic
ACTIVE$1,499,000
11081 Iris Drive, Garden Grove, California 92840
6Beds
4Baths
2,080Sqft
7,245Lot
Year Built
2025
Close
-
List price
$1.5M
Original List price
$1.57M
Price/Sqft
-
HOA
-
Days on market
-
Sold On
-
MLS number
OC25158558
Home ConditionExcellent
Features
ViewNeighborhood

About this home

Incredible 2-UNITS ON ONE LOT for $787,500 Each UNIT In the heart of Garden Grove. Don’t miss this opportunity to own a highly desirable property featuring a fully remodeled home and a brand-new construction Detached Single Family Home — perfect for investors, 1031 exchange buyers, or owner-occupiers seeking rental income. Unit 1 – BRAND NEW Detached Single Family Home (Built in 2025) - Modern 3BED / 2BATH 1,030 SF with a 2-car garage, Central A/C & Heat. Market Rent: $4,000/month. Unit 2 – Fully Remodeled - Spacious 3BED / 2BATH approx. 1,050 SF with 2-car driveway parking, Central A/C & Heat. Current Rent $3,500/month. Total Rental Income: $7,500/month. Separate Gas & Electricity meters – tenants pay all utilities. Each unit features open-concept layouts, modern cabinetry, quartz countertops, high-end appliances, vinyl flooring, Central A/C & Heat, recessed lighting, walk-in closets, and in-unit washer/dryer hookups. With quality renovations and new construction, this is a low-maintenance property for the next 10+ years. Located in a prime Garden Grove neighborhood close to schools, shopping, dining, and freeway access.

Price History

Date
Event
Price
10/30/25
Price Change
$1,499,000-3.0%
09/12/25
Price Change
$1,545,000-1.9%
07/28/25
$1,575,000
Neighborhood Comparison

 SubjectAverage HomeNeighbourhood Ranking (76 Listings)
Beds63
95%
Baths42
88%
Square foot2,0801,595
79%
Lot Size7,2457,440
44%
Price$1.5M$1.04M
94%
Price per square foot$721$649
64%
Built year20251955
99%
HOA
Days on market101147
22%
Condition Rating
Excellent

This property features a brand-new unit built in 2025 and a fully remodeled second unit, both showcasing modern aesthetics. The kitchens boast new gray cabinetry, quartz countertops, subway tile backsplashes, and high-end stainless steel appliances. Bathrooms are updated with modern vanities, new fixtures, and tiled showers. The entire property benefits from new vinyl flooring, recessed lighting, and central A/C & Heat, indicating all components are new or virtually new with no deferred maintenance.
Pros & Cons

Pros

Dual-Unit Property with Strong Income Potential: This property features two separate units on one lot, generating a combined market rental income of $7,500/month, making it highly attractive for investors, 1031 exchange buyers, or owner-occupiers seeking significant rental income.
Brand New Construction & Fully Remodeled: One unit is a brand-new detached single-family home built in 2025, and the second unit is fully remodeled, ensuring modern aesthetics, high functionality, and low maintenance for the foreseeable future.
Modern Amenities & High-Quality Finishes: Both units boast open-concept layouts, modern cabinetry, quartz countertops, high-end appliances, vinyl flooring, central A/C & Heat, recessed lighting, walk-in closets, and in-unit washer/dryer hookups, appealing to discerning tenants.
Separate Utilities for Reduced Owner Expense: Each unit is equipped with separate gas and electricity meters, transferring utility payment responsibility to tenants and significantly reducing the owner's operational costs and management burden.
Desirable Garden Grove Location: Located in a prime Garden Grove neighborhood, the property offers convenient access to schools, shopping centers, dining options, and major freeways, enhancing its appeal to potential tenants and owner-occupiers.

Cons

Above Estimated Market Value: The current listing price of $1,499,000 is approximately 9% higher than the estimated property value of $1,352,180, which may indicate it is overpriced relative to current market valuations.
Recent Price Reductions: The property has undergone multiple price reductions from an original list price of $1,575,000, suggesting potential market resistance or an initial overestimation of its value.
Limited Garage Parking for Second Unit: While Unit 1 includes a 2-car garage, Unit 2 only offers 2-car driveway parking, which might be less desirable for tenants seeking covered or more secure parking options.

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