12936 Lorna Street, Garden Grove, California 92841, Garden Grove, 92841 - 6 bed, 3 bath
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Garden Grove, California 92841
This Strong Value Opportunity is a versatile Mixed-Use Asset listed at $1,750,000, positioned well below the $1,911,851 Fair Market Value by 8%. This valuation gap provides $161,851 in Instant Equity. Featuring a 6-bedroom residence and a 2,500 sqft commercial warehouse with grandfathered usage rights, the property maintains a Condition Rating of 3. It offers immediate rental income stability, making it an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking a high-visibility, income-generating property in a dynamic corridor.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 12936 Lorna Street Subject | $1,750,000* List Price | 6 | 3 | 4,520 | $423 | - |
A 12932 Shackelford Ln Active | $1,700,000 List Price | 0 | 0 | 3,765 | $452 | 0.5 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
While built in 1961, the property shows clear evidence of a comprehensive renovation likely within the last 5-15 years. Interior updates include modern large-format porcelain tile flooring, recessed lighting, crown molding, and updated bathrooms with stone countertops and floor-to-ceiling tiling. The central HVAC system features a relatively modern Goodman condenser, and the overall condition is well-maintained and move-in ready.
The property features a large 6-bedroom residence and a 2,500 sqft commercial warehouse on a single lot, offering exceptional flexibility for owner-users or investors seeking multiple income streams.
With reliable, long-term tenants already in place who are open to lease extensions, the property provides turnkey rental income and financial stability from the moment of acquisition.
The rear warehouse benefits from highly coveted grandfathered usage rights and convenient side alley access, making it a functional and rare asset for light industrial operations in this corridor.
Property inspections are only available upon the acceptance of an offer and current viewings are limited to drive-by only, which may complicate the initial due diligence process for cautious buyers.
Future development or changes in use require direct coordination with the City Planning Department, as the grandfathered status may limit certain modifications or modern commercial applications.
Welcome to A Rare Mixed-Use Investment Opportunity in the Heart of Garden Grove! Discover an exceptional multi-use property combined total approximate 4520 SQFT Living and 10,800 SQFT Lot offering high visibility and endless potential in one of Garden Grove’s most dynamic corridors. Located just off Garden Grove Boulevard between Magnolia Street and Newland Street, this unique real estate package features two separate structures on a single lot, perfectly zoned to accommodate both residential living and light commercial activity. Whether you are a mixed-use investor, an owner-user looking to operate a business from home, or a buyer seeking immediate rental income, this versatile property delivers unparalleled flexibility. There are TWO Structures, Maximum Versatility: The front of the property boasts a spacious 6-bedroom, 3-bathroom, 2-car garage Single-Family Residence (12936) appx 2020 SQFT living space with large driveway can park 4 cars and central A/C and heating for year-round comfort, providing ample space for a large family or an excellent source of residential rental income. Situated at the rear is a substantial Commercial Warehouse (12938) appx 2500 SQFT, currently operating as a Custom Cabinet Shop with highly coveted grandfathered usage rights. Adding to the functionality of the commercial space is convenient side alley access, allowing for seamless deliveries, extra parking, or streamlined day-to-day operations. This property is a turn-key addition to any portfolio, featuring reliable, long-term tenants already in place who are open to extending their lease for immediate income stability from day one. The property inspections available upon the acceptance of an offer. Drive-by viewing is welcome and please do not disturb the tenants. For specific questions regarding Zoning & Usage allowable uses and future development, the buyers are advised to contact the City of Garden Grove Planning Department directly. Don't miss out on this rare chance to secure a high-potential asset in a thriving, high-traffic location!
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 6.0 | 3.0 | 50% |
| Baths | 3.0 | 1.5 | 50% |
| Square foot | 4,520 | 7,020.5 | 50% |
| Lot Size | 10,800 | 14,029 | 50% |
| Price | $1.75M | $3.08M | 50% |
| Price per sq ft | $387 | $426 | 50% |
| Built year | 1961 | 1961 | 50% |
| HOA | $0 | $0 | 50% |
| Days on market | 14 | 132 | 50% |
May 30, 2026
$1,750,000
Initial Listing
Nov 30, 2005
$650,000
Public Record
Jun 24, 2005
$525,000
Public Record