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12771 Lorna, Garden Grove, California 92841, Garden Grove, 92841 - bed, bath

12771 Lorna, Garden Grove, California 92841 home-pic-0
ACTIVE$2,100,000
12771 Lorna, Garden Grove, California 92841
0Bed
0Bath
2,188Sqft
16,329Lot
Year Built
1935
Close
-
List price
$2.1M
Original List price
$2.1M
Price/Sqft
$960
HOA
-
Days on market
-
Sold On
-
MLS number
OC25271525
Home ConditionTear down
Features
View-

About this home

Possibly Over-Priced:The estimated price is 8% below the list price. We found 3 Cons,6 Pros. Rank: price - $2.10M(96th), sqft - 2188(89th), beds - undefined(2th), baths - undefined(2th).

PRIME R-3 ZONED MULTI-FAMILY DEVELOPMENT OPPORTUNITY- UP TO 6 UNITS + ADU Come and explore this vacant parcel located in a beautiful and highly desirable Garden Grove neighborhood. Featuring a huge lot, this property offers exceptional potential—ideal for building 6 units and an ADU or creating a large private gated estate, depending on your vision. Similar multi-unit developments are already being constructed throughout the area. Whether you're a builder, investor, or developer, this property presents a rare chance to capitalize on Garden Grove's increasing demand for quality housing. Don't miss this opportunity to bring your next project to life in a thriving, sought-after community. Public records reflect a 3-bedroom, 2-bathroom, 2-story home previously on the property; however, the house has been demolished by the current owner a few months ago.

Price History

Date
Event
Price
12/05/25
Listing
$2,100,000
11/19/19
Sold
$1,250,000
Condition Rating
Tear down
The MLS listing explicitly states that the house previously on the property was demolished a few months ago, and the provided images confirm it is now a vacant lot. Therefore, there is no existing structure to evaluate for condition, kitchen, or bathroom features. The property's value is based solely on the land and its potential for redevelopment, aligning with the 'tear-down' criteria, even though the demolition has already occurred.
Pros & Cons

Pros

High Available Lot Utilization: The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 16329, living area = 2188.
R-3 Zoning: The property boasts prime R-3 zoning, explicitly allowing for multi-family development, which is a significant advantage for investors and builders.
High Development Potential: The zoning and lot size enable the construction of up to 6 units plus an Accessory Dwelling Unit (ADU), maximizing the property's income-generating capacity.
Large Lot Size: With a substantial lot size of 16,329 sqft, the property provides ample space for a significant multi-unit development or a large private estate.
Desirable Location: Located in a beautiful and highly sought-after Garden Grove neighborhood, ensuring strong demand for future housing units.
Vacant & Ready for Development: The previous home has been demolished by the current owner, eliminating demolition costs and delays for a new developer, allowing for immediate new construction.

Cons

Significant Upfront Capital: The listing price of $2.1 million for a vacant lot represents a substantial initial investment before any construction costs are incurred.
Extended Development Timeline: Developing 6 units plus an ADU will require a lengthy process involving planning, permitting, and construction, delaying the return on investment.
No Immediate Income Generation: As a vacant parcel, the property does not generate any rental income or cash flow, leading to holding costs without revenue until development is complete.

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