12231 Ferrari, Garden Grove, California 92841, Garden Grove, 92841 - 3 bed, 2 bath
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12231 Ferrari
Garden Grove, California 92841
ACTIVE
CONDITION: POOR
3Beds
2Baths
1,053Sq Ft
7,800Lot Size
Property Price
LIST PRICE$799,900
EST. MARKET VALUE
$815,378
SUMMARY
This property presents a High-Potential Investment Opportunity with a List Price of $800,000—positioned well below the $813,888 Fair Market Value by 1.7%. This valuation gap offers $13,888 in Instant Equity for buyers. Featuring a Fair Condition Rating (5/10), the home requires a full remodel, yet the expansive 7,800 sqft lot provides significant upside for expansion or an ADU. Located in the Garden Grove Unified school district, this is an ideal acquisition for Fix-and-Flip Investors or Contractors seeking a value-add project.
Estimated Market Value
$815,378
Based on Realkey algorithm analyzing recent comparable sales in Garden Grove.
Comparable Sales Map
Comparables within 1 miles sold in recently
Map unavailable.
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 12231 Ferrari Subject 3 bd · 2 ba · 1,053 sqft · $774 | $799,900* List Price | 3 | 2 | 1,053 | $774 | - |
A 8842 Calico Avenue Sold 3 bd · 1 ba · 995 sqft · $854 · 0.2 mi | $850,000 | 3 | 1 | 995 | $854 | 0.2 mi |
B 8802 Calico Avenue Sold 3 bd · 2 ba · 1,114 sqft · $741 · 0.2 mi | $825,000 | 3 | 2 | 1,114 | $741 | 0.2 mi |
C 8951 Blossom Sold 3 bd · 2 ba · 1,114 sqft · $856 · 0.2 mi | $953,500 | 3 | 2 | 1,114 | $856 | 0.2 mi |
D 8642 Joyzelle Sold 3 bd · 2 ba · 1,413 sqft · $616 · 1.0 mi | $870,000 | 3 | 2 | 1,413 | $616 | 1.0 mi |
E 9002 Marlene Avenue Active 3 bd · 2 ba · 1,119 sqft · $803 · 0.2 mi | $898,000 List Price | 3 | 2 | 1,119 | $803 | 0.2 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Poor
TeardownExcellent
Property is extensive renovation needed.
Built in 1955 (69 years old) and explicitly described as an 'investor's dream' that is 'ready for the remodel.' The 'as-is' probate sale status and age indicate that the kitchen, bathrooms, and major systems (HVAC/Electric) likely require a full rehabilitation to meet modern standards.
PROSSTRENGTHS & OPPORTUNITIES
- Investment Potential
Positioned as an 'investor's dream,' this property offers a significant value-add opportunity for those looking to remodel and capitalize on the high demand in the Garden Grove market.
- Expansive Lot Size
The generous 7,800 square foot lot provides ample space for potential home expansion, outdoor living enhancements, or the addition of an Accessory Dwelling Unit (ADU).
- Desirable School District
Located within the Garden Grove Unified school district, the property benefits from a location that typically maintains strong long-term value and appeals to families.
CONSRISKS & DEFICIENCIES
- Extensive Renovation Required
Sold in 'as-is' condition and ready for a full remodel, the property requires a substantial capital investment to address its current state and modernize the living space.
- Probate Sale Complexity
The sale is subject to court confirmation and a potential overbid process, which introduces additional legal hurdles and timeline uncertainties for prospective buyers.
About 12231 Ferrari
Investor's dream and she is ready for the remodel. Probate sale is subject to the court confirmation and overbid. Property sold "as-is" with no repairs, inspections and must sell all cash as it needs kitchen and bathroom finished.
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 1955
- Lot Size
- 7,800 Sq. Ft.
Interior
- Total Bedrooms
- 3
- Total Bathrooms
- 2 (2 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
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 3.0 | 3.5 |
| Baths | 2.0 | 2.0 |
| Square foot | 1,053 | 1,593.338 |
| Lot Size | 7,800 | 7,204.538 |
| Price | $799.9K | $1.09M |
| Price per sq ft | $760 | $713 |
| Built year | 1955 | 1957 |
| HOA | $0 | $209 |
| Days on market | 46 | 44 |
Pricing History
Listed for Sale
Oct 13, 2026
$799,900
$850,000
-6% Price Drop
Initial Listing
Price Change
Oct 7, 2026
$850,000
$875,000
-3% Price Drop
Initial Listing
Price Change
Sep 21, 2026
$875,000
$800,000
+9% Price Increase
Initial Listing
Price Change
Sep 10, 2026
$800,000
Initial Listing
Price Change
Sep 9, 2026
$700,000
Initial Listing