28873 Canyon Point, Lake Forest, California 92679, Lake Forest, 92679 - 2 bed, 2 bath
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Lake Forest, California 92679
This property presents a High-Potential Investment Opportunity with a List Price of $525,000—positioned well below the $551,536 Fair Market Value by 4%. This valuation gap offers $26,536 in Instant Equity for buyers. With a Condition Rating of 4, the home serves as a blank canvas for cosmetic modernization. Featuring a versatile loft, private balcony, and hill views, it is located near top-rated schools like Portola Hills Elementary. This is an ideal acquisition for Buy-and-Hold Investors or first-time buyers seeking value-add potential.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 28873 Canyon Point Subject | $525,000* List Price | 2 | 2 | 979 | $563 | - |
A 28444 Boulder Drive Sold | $637,000 | 2 | 2 | 1,015 | $628 | 0.7 mi |
B 28496 Lucca Court Sold | $550,000 | 2 | 1 | 1,083 | $508 | 0.8 mi |
C 28871 Canyon Point Sold | $560,000 | 2 | 2 | 873 | $641 | 0.0 mi |
D 28501 Salerno Drive Sold | $680,000 | 2 | 2 | 1,083 | $628 | 0.8 mi |
E 18952 Canyon View Active | $575,000 List Price | 2 | 2 | 954 | $603 | 0.1 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1990, this property is over 30 years old, which typically trends toward poor, but the interior condition is well-maintained and functional. It features some mid-life updates including stainless steel appliances and stone countertops, but the kitchen cabinetry, fluorescent lighting, and bathrooms remain dated. The listing's description as a 'blank canvas' confirms it is a candidate for cosmetic updates rather than a full structural rehab.
Positioned as the lowest-priced 2-bedroom plus loft residence in South Orange County, this property offers an outstanding entry-level opportunity for homeowners or investors.
As a desirable end-unit located directly across from a community park and steps from Saddleback Mountain trails, the home provides superior privacy and immediate access to outdoor recreation.
The combination of vaulted ceilings and a multi-functional loft space creates an open feel that maximizes the square footage, perfect for a home office or guest area.
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =1, other record lot size in square feet = 2043.
The monthly HOA fee of $570 is relatively high for a condo at this price point, which may impact the overall affordability and monthly carrying costs for some buyers.
Described as a 'blank canvas,' the property likely requires cosmetic updates and modernization to meet current market standards, necessitating additional immediate capital investment.
LOWEST PRICED 2 BEDROOM + LOFT IN SOUTH OC! Charming end-unit condo located in the desirable Canyon View community of Portola Hills. This 2-bedroom home PLUS LOFT, features vaulted ceilings and abundant natural light, creating an open and airy feel throughout. The versatile loft offers additional space ideal for a home office, guest area, or flex room. The unit has secure parking with a 1 car garage along with permitted parking. Enjoy outdoor living on the spacious private balcony, perfect for relaxing or entertaining. Ideally situated directly across from a community park and just steps from hiking and biking trails that lead into the Saddleback Mountains. Prime location within the community with added privacy as an end unit. When the owner originally bought the home, it was all about the location. South OC living with access to Central OC. Close to award-winning schools, shopping, toll roads and local amenities. It's a lovely blank canvas ready to make your own.
No exterior & parking available.
Grades K-6 • 0.5 mi
Grades 7-8 • 5.5 mi
Grades 9-12 • 5.0 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 2.0 | 2.0 | 50% |
| Baths | 2.0 | 2.0 | 50% |
| Square foot | 979 | 1,081.5 | 33% |
| Lot Size | 1 | 11,489 | 33% |
| Price | $525.0K | $675.0K | 11% |
| Price per sq ft | $536 | $626 | 28% |
| Built year | 1990 | 1991 | 50% |
| HOA | $570.0 | $381 | 78% |
| Days on market | 38 | 139 | 11% |
Apr 29, 2026
$525,000
Initial Listing
May 26, 1994
$119,000
Public Record