24092 Gemwood Drive, Lake Forest, CA 92630

• 5 beds |
• 3 baths |
• 2,351 sqft

Property Description

Rare Value-Add Opportunity in Lake Forest | 16,113 SqFt Lot at the End of a Cul-de-Sac! 24092 Gemwood Drive presents a rare investment opportunity in one of South Orange County's most sought-after submarkets. Tucked at the end of a quiet cul-de-sac, this single-story ranch sits on a massive 16,113 sqft flat lot, a footprint that's nearly impossible to replicate in today's Lake Forest market and one that opens the door to significant upside potential. The existing residence offers approximately 2,500 sqft of living space with 5 bedrooms, 2.5 bathrooms, and additional bonus spaces that expand the property's income and use potential, ideal for multi-generational living, ADU conversion, rental income, or a dedicated home office setup. With strong rental demand in the area and limited inventory of lots this size, the income and appreciation upside is substantial. The grounds deliver immediate lifestyle value while preserving long-term development flexibility. An expansive concrete courtyard framed by mature palms, a dedicated play area, and a custom-built heavy-timber covered pavilion built for large-scale entertaining. The oversized driveway accommodates multiple vehicles, an RV, or toys, a premium feature that commands rental and resale value in this market. Whether you're looking to hold, expand, add an ADU, reimagine the footprint, or capitalize on Lake Forest's continued appreciation, this property delivers the land, location, and flexibility that serious investors look for. Minutes from top-rated schools, parks, shopping, and dining. Opportunities like this don't last.

Listing Status:

Active

Date Added:

May 20, 2026

Data Last Updated:

May 20, 2026 at 8:18PM

Listing Office:

The Oppenheim Group : 949-706-4974

Listing Agent:

Reza Shirangi : 949-466-0920

MLS ID:

OC26108246

Interior

• General: All Bedrooms DownBedroom on Main LevelMain Level Primary
• Appliances: Gas Range
• Laundry: Outside
• A/C: Central Air
• Heating: Central
• Fireplace: None

Exterior

• General: None
• Pool: None
• Parking: Parking spaces: 0

Construction

• General: 1

Location

• HOA Amenities: 0.0
• Originating MLS: CRMLS_CRM
• School District: Saddleback Valley Unified
• County: Orange

Lot

• Zoning: 61721301
• View: Trees/WoodsView

Utilities

• Utilities: Electricity ConnectedNatural Gas ConnectedPhone ConnectedSewer Connected
• Water: Public
• Sewer: Public Sewer

Financial

• Source: CRMLS_CRM