11471 Morgan Lane, Garden Grove, California 92840, Garden Grove, 92840 - 5 bed, 4 bath
ACTIVE$1,380,000
11471 Morgan Lane, Garden Grove, California 92840
5Beds
4Baths
2,314Sqft
7,800Lot
Price Vs. Estimate
The estimated value ($892,801.4) is $487,198.6 (35%) lower than the list price ($1,380,000). This property may be overpriced.
Key pros and cons
Top Pros:
Income-Generating ADU: Features a newly built (2020) 2-bed/2-bath ADU with a separate address, electric meter, and owned solar panels, currently tenant-occupied, offering immediate rental income potential.
Top Cons:
Significant Price Discrepancy: The current list price of $1.38M is considerably higher than the property's estimated value of $892,801.4 (a 35% difference), suggesting potential overpricing that may hinder marketability.
Compared to the nearby listings
Price:$1.38M vs avg $1.05M (+$330,000)92%
Size:2,314 sqft vs avg 1,624 sqft89%
Price/sqft:$596 vs avg $62138%
More Insights
Built in 1954 (71 years old).
Condition: The property features a newly built ADU in 2020, which is in excellent condition with owned solar panels. The front house is described as 'remodeled,' indicating significant updates. While the exact date and extent of the main house's remodel are not specified, and no interior photos are available to assess kitchen, bathroom, and other features directly, the combination of a brand new ADU and a remodeled main house suggests a move-in ready property with modern updates. The exterior image shows a well-maintained facade and roof. This places the overall condition firmly in the 'Good' category, as it's well-maintained with recent major updates, though not necessarily a full, recent renovation across all components of the original structure to warrant an 'Excellent' score without further visual confirmation.
Year Built
1954
Close
-
List price
$1.38M
Original List price
$1.5M
Price/Sqft
$596
HOA
-
Days on market
-
Sold On
-
MLS number
PW24249761
Home ConditionGood
Features
View-
About this home
NEW BUILT ADU in 2020 2beds/2baths (1176 sf) along with porch (68 sf). ADU has separate address and separate electric meter, also Solar Panels on ADU are owned. Great for investment, tenant occupied. Remodeled front house and 2020 ADU built. Close to Disneyland and supermarkets.
Condition Rating
Good
The property features a newly built ADU in 2020, which is in excellent condition with owned solar panels. The front house is described as 'remodeled,' indicating significant updates. While the exact date and extent of the main house's remodel are not specified, and no interior photos are available to assess kitchen, bathroom, and other features directly, the combination of a brand new ADU and a remodeled main house suggests a move-in ready property with modern updates. The exterior image shows a well-maintained facade and roof. This places the overall condition firmly in the 'Good' category, as it's well-maintained with recent major updates, though not necessarily a full, recent renovation across all components of the original structure to warrant an 'Excellent' score without further visual confirmation.
Pros & Cons
Pros
Income-Generating ADU: Features a newly built (2020) 2-bed/2-bath ADU with a separate address, electric meter, and owned solar panels, currently tenant-occupied, offering immediate rental income potential.
Remodeled Main Residence: The front house has undergone remodeling, providing updated living spaces and reducing immediate renovation requirements for the primary dwelling.
Desirable Location: Strategically located close to major attractions like Disneyland and essential amenities such as supermarkets, enhancing its appeal for both residents and potential renters.
Energy Efficiency: The ADU benefits from owned solar panels, contributing to lower utility costs and increased attractiveness for tenants or multi-generational living.
Generous Lot Size: A substantial 7800 sqft lot offers ample outdoor space and potential for various uses, including landscaping or future property enhancements.
Cons
Significant Price Discrepancy: The current list price of $1.38M is considerably higher than the property's estimated value of $892,801.4 (a 35% difference), suggesting potential overpricing that may hinder marketability.
Age of Main Structure: The main house, built in 1954, despite being remodeled, may present concerns regarding older infrastructure (e.g., plumbing, electrical systems) that could require future capital expenditures.
Tenant Occupancy: The ADU being tenant-occupied could introduce complexities for buyers regarding property access for showings, inspections, and potential challenges with lease terms or possession upon closing.