11571 Magnolia, Garden Grove, California 92841, Garden Grove, 92841 - 3 bed, 2 bath
ACTIVE$1,150,000
11571 Magnolia, Garden Grove, California 92841
3Beds
2Baths
1,200Sqft
6,540Lot
Year Built
1957
Close
-
List price
$1.15M
Original List price
$1.15M
Price/Sqft
$958
HOA
-
Days on market
-
Sold On
-
MLS number
OC25105334
Home ConditionPoor
Features
Patio
View-
About this home
Possibly Over-Priced:The estimated price is 34% below the list price. We found 3 Cons,5 Pros. Rank: price - $1.15M(60th), sqft - 1200(9th), beds - 3(50th), baths - 2(50th).
IT IS A GEM IN THE GARDEN GROVE CITY, NEXT TO LITTLE-SAIGON WITH 1,389 SQFT LIVING AREA & DETACHED PERMITED 780 SQFT ENCLOSED PATIO. THERE ARE 1 BEDROOM, 2.5 BATHROOMS N0 PERMITED. PROPERTY LOCATED IN THE CENTER OF SCHOOLS AND VIETNAMESE MARKETS ON MAGNOLIA STREET. PROPERTY SOLD "AS IS” CONDITION.
Condition Rating
Poor
Built in 1957 and explicitly stated as 'SOLD AS IS' condition, this property requires substantial repairs and rehabilitation. The listing also notes '1 BEDROOM, 2.5 BATHROOMS N0 PERMITED,' which indicates significant defects affecting safety, soundness, and legality, requiring major system replacements or extensive renovation to bring them up to code. The provided images are too blurry to assess specific interior conditions but do not suggest recent updates, aligning with the need for major work.
Pros & Cons
Pros
Prime Location: Situated next to 'Little Saigon' and in the center of schools and Vietnamese markets on Magnolia Street, offering high convenience and cultural appeal to a specific demographic.
Expanded Usable Space: Features a 'detached permitted 780 sqft enclosed patio,' significantly increasing the total usable living area beyond the main house's 1,389 sqft.
Generous Lot Size: With a 6,540 sqft lot, the property offers ample outdoor space and potential for future enhancements or landscaping.
Investment Potential: The 'as-is' sale and existing unpermitted additions present a clear opportunity for a buyer to invest in renovations, legalize structures, and significantly increase property value.
Established Community: Located in the 'Peppertree Village' subdivision, a mature neighborhood known for its stability and community feel.
Cons
Unpermitted Additions & Discrepancies: The description explicitly states '1 bedroom, 2.5 bathrooms N0 PERMITED,' which contradicts the structured data (3 beds, 2 baths) and indicates significant unpermitted modifications, posing legal and financial risks for the buyer.
As-Is Sale Condition: Being sold 'as-is' means the buyer assumes all responsibility for any necessary repairs, upgrades, or costs associated with legalizing unpermitted structures, potentially leading to substantial unforeseen expenses.
Significant Overpricing Relative to Valuation: The listing price of $1,150,000 is considerably higher than the estimated property value of $751,334.875, suggesting a substantial overvaluation that could deter potential buyers and complicate financing.