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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.
Property Type(s):
Residential Income
| Last Updated | 6/9/2026 | Year Built | 1965 |
|---|---|---|---|
| Community | 699 - Not Defined | County | Orange |
Additional Details
| AIR | Central Air |
|---|---|
| AIR CONDITIONING | Yes |
| APPLIANCES | Gas Range |
| AREA | 699 - Not Defined |
| HEAT | Central |
| INTERIOR | Master Downstairs |
| LOT | 0.3699 acre(s) |
| LOT DESCRIPTION | Irregular Lot |
| LOT DIMENSIONS | 16113 |
| POOL DESCRIPTION | None |
| SEWER | Public Sewer |
| STORIES | 1 |
| UTILITIES | Electricity Connected, Natural Gas Connected, Phone Connected, Sewer Connected |
| VIEW | Yes |
| VIEW DESCRIPTION | Trees/Woods |
| WATER | Public |
Location
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Listed with The Oppenheim Group
The information being provided by Conejo Simi Moorpark Association of REALTORS® (“CSMAR”) is for the visitor's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. Any information relating to a property referenced on this web site comes from the Internet Data Exchange (“IDX”) program of CSMAR. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. Any information relating to a property, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by CSMAR and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
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