10511 Terrace, Santa Ana, California 92705, Santa Ana, 92705 - 6 bed, 4 bath

10511 Terrace, Santa Ana, California 92705 home-pic-0

10511 Terrace

Santa Ana, California 92705

ACTIVE UNDER CONTRACT
CONDITION: TEAR DOWN
6Beds
4Baths
3,992Sq Ft
23,500Lot Size

Property Price

LIST PRICE$900,000

SUMMARY

Analysis of 10511 Terrace, Santa Ana, California 92705 is currently available with a list price of $900,000. The property maintains a Tear down Condition Rating (10/100), reflecting significant deferred maintenance. This property is best suited for experienced investors or developers prepared for substantial renovation work. Located in a high-demand neighborhood within the Santa Ana Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for Experienced Investors and Fix-and-Flip Specialists.

Condition Analysis

OVERALL CONDITION SCORE

Tear down
TeardownExcellent

Property is land value only, full reconstruction required.

This listing is for a build-ready vacant lot, not an existing habitable structure. The images clearly show undeveloped land, and the description explicitly states it's a 'build-ready lot' with 'no demolition' required for the *new* construction. While plans and some new fixtures are included for a future luxury home, the property's current condition as a dwelling is non-existent, and its value is based solely on the land and its potential for redevelopment, aligning with the 'tear-down' criteria for properties whose value is land-based.

PROSSTRENGTHS & OPPORTUNITIES

  • 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 = 23500, living area = 3992.

  • Expedited Development

    The property offers a build-ready flat construction pad with utilities stubbed out, no demolition required, and most County approvals already obtained, allowing for immediate permit issuance and significantly reducing development time and risk.

  • Premium Location & Views

    Situated in one of North Tustin's most desirable custom-home neighborhoods, the elevated position provides beautiful Catalina views and a strong sense of privacy, enhancing its luxury appeal.

CONSRISKS & DEFICIENCIES

  • MLS Listing Discrepancy

    Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =23500, other record lot size in square feet = 23979. Living area discrepancy between mls listing and other public or private record. mls listing living area = 3992, other record living area = 2659. Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 6, other record bedroom count = 5.

  • Auction Sale Format

    The property is offered via live auction with a starting bid, which may introduce uncertainty regarding the final purchase price and could deter buyers preferring traditional sales processes.

  • Significant Construction Investment Required

    Despite the 'build-ready' status and included fixtures, substantial capital investment is still necessary to complete the construction of the luxury home, making it unsuitable for buyers seeking an immediate move-in property.

About 10511 Terrace

Live Auction! Bidding to start from $900,000! A Rare Opportunity to Build Something Extraordinary in North Tustin! Welcome to 10511 Terrace View, set within one of North Tustin’s most desirable CUSTOM-home neighborhoods, this build-ready lot offers something virtually unheard of in today’s market: a flat construction pad with utilities already available and stubbed out, ready for immediate development. There is no demolition, no entitlement uncertainty, & no prolonged waiting period. What typically takes years has already been done. The property’s elevated position captures beautiful views of Catalina & a sense of privacy that defines luxury living in North Tustin. Set within the highly rated Tustin Unified School District, a factor that consistently enhances long-term value & buyer demand. This creative, highly functional single-story home was designed to elevate everyday living while supporting elegant entertaining. Four generously sized bedrooms comfortably accommodate king-size beds, with the flexibility to expand to 6 bedrooms, 4 full bathrooms, a gourmet kitchen with a walk-in pantry, oversized kitchen & laundry spaces for high-end appliances, & a seamless great-room layout create an open, inviting flow between the living, dining, family, & kitchen areas. Plans include the integration of a pool, spa, & waterfall into the retaining wall system, creating a resort-style outdoor environment that meaningfully expands usable space & elevates the overall living experience. While additional plan approvals will be required for the garage remodel and pool, spa, and waterfall construction, all other County approvals have already been obtained. Permits are authorized to be issued, allowing construction to proceed immediately into the permit issuance process without discretionary delays. The property also includes a substantial inventory of brand-new, unused fixtures & finishes. Approximately 75 percent of the custom bathroom, kitchen, & laundry plumbing fixtures are included, along with custom lighting, ceiling fans, & mirrors, all still in their original containers. These inclusions represent both cost savings & a meaningful acceleration of the build process. Opportunities like this do not come along often. A remarkable chapter is ready to be written on one of North Tustin’s most coveted streets. This is more than a property. It is a fully realized vision, thoughtfully designed, meticulously engineered, & now poised for immediate execution.

Property Details

Public Facts

Property Type
Single Family Residence
Year Built
1961
Lot Size
23,500 Sq. Ft.

Interior

Total Bedrooms
6
Total Bathrooms
4 (4 Full, 0 Half)

Exterior & Parking

No exterior & parking available.

Utilities & Misc

HOA Fee
$0 / Month

Neighborhood Insights

Sensitive Facilities

No sensitive facilities data found.

Neighborhood Comparison

FeatureSubjectAverage HomeNeighborhood Ranking (50 Listings)
Beds6.04.0
95%
Baths4.03.0
68%
Square foot3,9922,555
84%
Lot Size23,50012,390
88%
Price$900.0K$1.72M
2%
Price per sq ft$225$682
1%
Built year19611962
45%
HOA$0$0
50%
Days on market45173
12%

Pricing History

Listed for Sale

Jan 21, 2026

$900,000

Initial Listing

Sold

Aug 2, 2022

$1,600,000

Public Record

Browse Properties by State Browse housing market trends by state