24092 Gemwood Drive, Lake Forest, California 92630, Lake Forest, - bed, bath

home-pic
ACTIVE$1,695,000
24092 Gemwood Drive, Lake Forest, California 92630
0Bed
0Bath
2,500Sqft
16,113Lot
Year Built
1965
Close
-
List price
$1.7M
Original List price
$1.7M
Price/Sqft
-
HOA
-
Days on market
-
Sold On
-
MLS number
OC25247917
Home ConditionFair
Features
Deck
Patio
ViewCourtyard

About this home

An exceptionally rare find and secluded sanctuary property, where a large single-story ranch house sits on a massive 16,113 sqft flat lot at the end of a cul-de-sac in a quiet family neighborhood. This residence offers approximately 2,500 sqft of living space and features 5 bedrooms and 2.5 baths, plus additional living areas which may present future utility. Has been used as a Daycare for a long time. The property offers tremendous flexibility and is perfect for a multi-generational estate, a unique business use, or a substantial investment opportunity. The expansive lot is a true paradise for large events, featuring a resort-caliber redwood gazebo, outdoor cooking area, wide array of mature fruit trees, and an enormous paved area with room for 12+ cars or multiple RVs/boats. Leverage this property and its huge lot to create your own masterpiece, build, expand, add a pool and or alternate income producing opportunities. The property will be delivered vacant at COE. Very close to ample shopping, entertainment, and major freeways. A large Single Story property with such giant flat and usable backyard is extremely rare in south orange county, Act Fast. By Appointment Only.

Price History

Date
Event
Price
10/29/25
Listing
$1,695,000
Neighborhood Comparison

 SubjectAverage HomeNeighbourhood Ranking (189 Listings)
Beds04
Baths03
Square foot2,5002,136
68%
Lot Size16,1135,590
99%
Price$1.7M$1.33M
77%
Price per square foot$678$683
48%
Built year19659885989
6%
HOA
Days on market7169
1%
Condition Rating
Fair

Built in 1965, this property is over 50 years old. While some visible interior spaces (likely former daycare rooms) show clean finishes, recessed lighting, and a modern ceiling fan, these updates appear to be functional rather than a comprehensive, recent renovation of the entire home. Crucially, there are no images provided for the kitchen or bathrooms, which are primary indicators of a property's condition and style. The listing description encourages buyers to 'create your own masterpiece' and 'build, expand,' strongly implying that the existing interior, especially these critical areas, is likely outdated and would require significant updates to meet contemporary standards. The property appears to be maintained for its age and is functional, but it is not move-in ready in terms of modern aesthetics or features, aligning with the 'Fair' category where major components are functional but show signs of being outdated and require minor to substantial updates.
Pros & Cons

Pros

Expansive & Usable Lot: Features a massive 16,113 sqft flat lot, exceptionally rare for South Orange County, offering significant potential for expansion, additions (e.g., pool), or income-producing opportunities.
Exceptional Versatility: The property offers tremendous flexibility, ideal for multi-generational living, unique business use, or a substantial investment opportunity, appealing to a broad buyer base.
Secluded Cul-de-Sac Location: Situated at the end of a quiet cul-de-sac, providing privacy and a family-friendly environment, while remaining conveniently close to ample shopping, entertainment, and major freeways.
Extensive Outdoor Amenities: The expansive backyard is a true paradise for large events, featuring a resort-caliber redwood gazebo, outdoor cooking area, mature fruit trees, and enormous paved parking for 12+ cars or multiple RVs/boats.
Rare Single-Story Ranch: A large single-story ranch house on such a giant, flat, and usable backyard is a highly sought-after and extremely rare find in South Orange County.

Cons

Age of Construction: Built in 1965, the property may require significant updates to systems, finishes, and overall modernization to meet contemporary buyer expectations and energy efficiency standards.
Prior Commercial Use: Long-term use as a daycare could imply increased wear and tear, specialized modifications, or a need for extensive renovation to transition back to a purely residential feel and layout.
Implied Renovation Investment: While offering development potential, the property's current state and age suggest a substantial financial investment will be required for customization, modernization, or realizing its full potential.

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