24541 Penfield, Lake Forest, California 92630, Lake Forest, 92630 - 3 bed, 2 bath
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Lake Forest, California 92630
This Extensively Remodeled Single Family Residence is a High-Potential Investment Opportunity, listed at $1,490,000—positioned well above the $1,237,325 Fair Market Value by -20%. Featuring a Condition Rating of 2, the home offers a like-new feel with a fully upgraded kitchen, granite flooring, and a 615 sqft income-generating ADU. Its prime location near the 5 and 405 freeways enhances its utility. This property is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking a turnkey home with versatile rental potential.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 24541 Penfield Subject | $1,350,000* List Price | 3 | 2 | 2,100 | $643 | - |
A 24742 Belgreen Place Sold | $1,288,000 | 4 | 3 | 2,000 | $644 | 0.2 mi |
B 24331 Blueridge Sold | $1,399,900 | 4 | 3 | 1,906 | $734 | 0.9 mi |
C 24501 Bridger Road Sold | $990,000 | 3 | 2 | 1,296 | $764 | 0.2 mi |
D 24781 Belgreen Place Sold | $1,200,000 | 4 | 2 | 1,690 | $710 | 0.3 mi |
E 24252 Palmek Circle Sold | $1,190,000 | 4 | 4 | 1,848 | $644 | 0.3 mi |
F 23352 El Perro Sold | $1,010,000 | 4 | 4 | 1,825 | $553 | 0.6 mi |
G 24132 Palmek Circle Active | $1,174,998 List Price | 4 | 3 | 1,696 | $693 | 0.2 mi |
* Subject property listed price vs sold prices of comps.
Property is new construction or fully renovated.
The property has undergone an extensive, complete renovation and expansion within the last year, including a full kitchen upgrade with new appliances, modern bathrooms, and a garage-to-ADU conversion. The home features all-new finishes, repiped plumbing, and modern systems, meeting the criteria for a like-new condition.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 7245, living area = 1144.
The professional conversion of the garage into a 615 sqft ADU provides exceptional versatility for rental income or multi-generational living, significantly increasing the property's utility.
The home offers a 'like-new' feel following a comprehensive remodel that includes a repiped plumbing system, expanded living areas, high-end granite flooring, and a fully upgraded kitchen.
The conversion of the garage into living space eliminates traditional covered parking and internal storage, which may be a deterrent for buyers with multiple vehicles.
The significant difference between the recorded 1,144 sqft and the expanded living area may present challenges during the appraisal process or with buyers focused on official public records.
Property is being offered via auction. The list price represents the starting bid and may not reflect the final sale price. Auction bidding is scheduled to begin on July 12, 2026. Please contact the Listing Agent for complete auction terms, bidding procedures, and conditions. Welcome to this extraordinary, fully remodeled and expanded home located in the heart of Lake Forest. This is a rare opportunity to own a property that has been transformed from A to Z. With the exception of portions of the original structural walls, virtually everything has been rebuilt or replaced—from the roof to the flooring—creating a home that offers the quality, comfort, and feel of new construction. Originally approximately 1,145 square feet, the property has been thoughtfully expanded with a 322 sq. ft. addition to the main residence and a 615 sq. ft. detached ADU (buyer to verify square footage and permits), providing exceptional flexibility for multi-generational living, guest accommodations, or outstanding rental income potential. The bright, open-concept floor plan showcases a beautifully redesigned kitchen featuring brand-new appliances, custom cabinetry, premium finishes, and elegant granite flooring throughout. Large windows fill the home with abundant natural light, creating a warm and inviting atmosphere. The entire home has also been fully repiped, providing additional peace of mind. The detached ADU offers excellent privacy and versatility, with the potential for its own private outdoor area, making it ideal for extended family, guests, or rental opportunities. Step outside to a spacious backyard with mature fruit trees, including lemon and other varieties, creating the perfect setting for entertaining, gardening, or simply relaxing. Ideally located just minutes from major shopping centers, restaurants, Home Depot, schools, and everyday conveniences, with approximately one-minute access to Interstate 5 and three-minute access to Interstate 405. This is a truly unique property offering the charm of an established neighborhood with the quality and craftsmanship of a nearly new home. Buyers are encouraged to perform their own due diligence regarding square footage, permits, improvements, and all property information.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 3.0 | 4.0 |
| Baths | 2.0 | 3.0 |
| Square foot | 2,100 | 2,130 |
| Lot Size | 7,245 | 5,706 |
| Price | $1.35M | $1.44M |
| Price per sq ft | $643 | $664 |
| Built year | 1996 | 1979 |
| HOA | $0 | $150 |
| Days on market | 95 | 51 |
Jul 15, 2026
$1,350,000
$1,200,000
+13% Price Increase
Initial Listing
Jun 29, 2026
$1,200,000
$1,399,900
-14% Price Drop
Initial Listing
Jun 11, 2026
$1,399,900
$1,450,000
-3% Price Drop
Initial Listing
Jun 4, 2026
$1,450,000
$1,490,000
-3% Price Drop
Initial Listing
Apr 18, 2026
$1,490,000
Initial Listing
Mar 17, 2025
$900,000
Public Record
Dec 19, 2008
$397,000
Public Record
Jun 7, 2006
$655,000
Public Record