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11081 Iris Drive, Garden Grove, California 92840, Garden Grove, 92840 - 6 bed, 4 bath

11081 Iris Drive, Garden Grove, California 92840 home-pic-0
ACTIVE UNDER CONTRACT$1,499,000
11081 Iris Drive, Garden Grove, California 92840
6Beds
4Baths
2,080Sqft
7,245Lot
Year Built
2025
Close
-
List price
$1.5M
Original List price
$1.57M
Price/Sqft
$721
HOA
-
Days on market
-
Sold On
-
MLS number
OC25158558
Home ConditionExcellent
Features
ViewNeighborhood

About this home

Possibly Over-Priced:The estimated price is 9% below the list price. We found 3 Cons,5 Pros. Rank: price - $1.50M(95th), sqft - 2080(81th), beds - 6(96th), baths - 4(86th).

Incredible 2-UNITS ON ONE LOT for $787,500 Each UNIT In the heart of Garden Grove. Don’t miss this opportunity to own a highly desirable property featuring a fully remodeled home and a brand-new construction Detached Single Family Home — perfect for investors, 1031 exchange buyers, or owner-occupiers seeking rental income. Unit 1 – BRAND NEW Detached Single Family Home (Built in 2025) - Modern 3BED / 2BATH 1,030 SF with a 2-car garage, Central A/C & Heat. Market Rent: $4,000/month. Unit 2 – Fully Remodeled - Spacious 3BED / 2BATH approx. 1,050 SF with 2-car driveway parking, Central A/C & Heat. Current Rent $3,500/month. Total Rental Income: $7,500/month. Separate Gas & Electricity meters – tenants pay all utilities. Each unit features open-concept layouts, modern cabinetry, quartz countertops, high-end appliances, vinyl flooring, Central A/C & Heat, recessed lighting, walk-in closets, and in-unit washer/dryer hookups. With quality renovations and new construction, this is a low-maintenance property for the next 10+ years. Located in a prime Garden Grove neighborhood close to schools, shopping, dining, and freeway access.

Price History

Date
Event
Price
10/30/25
Price Change
$1,499,000-3.0%
09/12/25
Price Change
$1,545,000-1.9%
07/28/25
$1,575,000
Condition Rating
Excellent
This property features two units, one of which is brand new (built in 2025) and the other is fully remodeled. Both units boast modern kitchens with new cabinetry, quartz countertops, and high-end stainless steel appliances, as well as updated bathrooms with contemporary fixtures and tiling. The interiors showcase new vinyl flooring, recessed lighting, and central A/C & heat, indicating a pristine, move-in ready condition with no deferred maintenance.
Pros & Cons

Pros

Exceptional Income Potential: This property features two separate units on one lot, generating a combined market rental income of $7,500/month, making it highly attractive for investors, 1031 exchange buyers, or owner-occupiers seeking significant rental income.
New Construction & Recent Remodel: One unit is a brand-new detached single-family home (built 2025), and the second unit is fully remodeled, ensuring modern aesthetics, functionality, and appeal to tenants.
Low Maintenance & Modern Amenities: With quality renovations and new construction, the property is advertised as low-maintenance for 10+ years. Both units boast central A/C & Heat, quartz countertops, high-end appliances, vinyl flooring, and in-unit washer/dryer hookups.
Separate Utilities: Each unit has separate gas and electricity meters, with tenants responsible for all utilities, which significantly enhances the owner's net operating income and simplifies property management.
Prime Garden Grove Location: Located in a desirable Garden Grove neighborhood, offering convenient access to schools, shopping, dining, and major freeways, which is a strong draw for potential tenants.

Cons

Recent Price Reductions: The property has undergone multiple price reductions from an original list price of $1.575M to the current $1.499M, which could indicate initial overpricing or a slower market response.
Future Availability/Construction Status: With a 'year_built: 2025' for one unit and an 'on_market_date: 2025-07-28', the property may not be fully completed or available for immediate closing, potentially delaying income generation for an investor.
Perceived Value at Price Point: The asking price of $1.499M for two units, effectively $749,500 per unit (approx. 1000-1050 sqft each), might be considered high for the square footage in the Garden Grove market, potentially limiting the buyer pool.

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