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545 Serrano Summit Drive, Lake Forest, California 92630, Lake Forest, 92630 - 5 bed, 4 bath

545 Serrano Summit Drive, Lake Forest, California 92630 home-pic-0
ACTIVE$2,628,000
545 Serrano Summit Drive, Lake Forest, California 92630
5Beds
4Baths
2,680Sqft
3,801Lot

Price Vs. Estimate

The estimated value ($2,208,045.045) is $419,954.955 (15%) lower than the list price ($2,628,000). This property may be overpriced.

Key pros and cons

Top Pros:
Model Home Quality & Design: Built as a Lennar model home, this property boasts high-end finishes, luxury materials, exceptional design concepts, and designer décor, reflecting an award-winning aesthetic.
Top Cons:
Low Available Lot Utilization: The property has a small lot size, more than 70 percent of which is taken by its living area. lot size in square feet = 3801, living area = 2680.

Compared to the nearby listings

Price:$2.63M vs avg $1.31M (+$1,318,000)98%
Size:2,680 sqft vs avg 2,130 sqft78%
Price/sqft:$981 vs avg $67598%

More Insights

Built in 2020 (5 years old).
Condition: This property was built in 2020, making it virtually new and well within the 'Excellent' criteria of being built within 10 years. As a former Lennar model home, it features high-end finishes, luxury materials, and exceptional design throughout. The kitchen boasts modern white shaker cabinets, white countertops, and high-end stainless steel appliances, including a built-in refrigerator and gas range. Bathrooms are equally modern with contemporary vanities, fixtures, and glass-enclosed showers. The flooring is a mix of contemporary wide plank wood and new carpet. All components are new, meet current quality standards, and show no signs of deferred maintenance or physical depreciation.
Year Built
2020
Close
-
List price
$2.63M
Original List price
$2.63M
Price/Sqft
$981
HOA
$213
Days on market
-
Sold On
-
MLS number
OC25102388
Home ConditionExcellent
Features
Good View: City Lights
Deck
Patio
ViewCity Lights

About this home

This former Lennar model home features 5 bedrooms and 4 bathrooms where sophistication meets luxury. Built as a model home, the home features high-end finishes and luxury materials in an open and airy layout, with every detail reflecting exceptional design concepts and aesthetics. The designer's carefully selected décor is complemented by an elegantly landscaped backyard, showcasing an impeccable sense of style. The outdoor space is equally stunning - a newly customized barbecue area with built-in BBQ grill and compact refrigerator is the ideal place to relax and entertain. Standing in the backyard, you can also take in the mesmerizing views and gorgeous sunsets. Built in 2020, this home is located in a quiet and inviting neighborhood just minutes from the Irvine Spectrum and conveniently located near Target, Costco, and a variety of high-end stores, restaurants and entertainment. Residents enjoy resort-style amenities: a crystal-clear pool, Jacuzzi, barbecue area, billiards room, two pickleball courts and more. From the award-winning design to the unparalleled landscaping experience, this is a dream home that blends elegance, functionality and modernity, making it a rare choice at first sight.

Condition Rating
Excellent
This property was built in 2020, making it virtually new and well within the 'Excellent' criteria of being built within 10 years. As a former Lennar model home, it features high-end finishes, luxury materials, and exceptional design throughout. The kitchen boasts modern white shaker cabinets, white countertops, and high-end stainless steel appliances, including a built-in refrigerator and gas range. Bathrooms are equally modern with contemporary vanities, fixtures, and glass-enclosed showers. The flooring is a mix of contemporary wide plank wood and new carpet. All components are new, meet current quality standards, and show no signs of deferred maintenance or physical depreciation.
Pros & Cons

Pros

Model Home Quality & Design: Built as a Lennar model home, this property boasts high-end finishes, luxury materials, exceptional design concepts, and designer décor, reflecting an award-winning aesthetic.
Modern Construction: Constructed in 2020, the home offers contemporary standards, an open and airy layout, and is likely to have minimal immediate maintenance needs.
Premium Outdoor Living & Views: Features an elegantly landscaped backyard with a newly customized barbecue area, built-in grill, compact refrigerator, and mesmerizing city light views and gorgeous sunsets.
Extensive Community Amenities: Residents benefit from resort-style amenities including a crystal-clear pool, Jacuzzi, barbecue area, billiards room, and two pickleball courts.
Convenient Location: Located in a quiet neighborhood just minutes from the Irvine Spectrum and close to major retailers (Target, Costco), high-end stores, restaurants, and entertainment.

Cons

Low Available Lot Utilization: The property has a small lot size, more than 70 percent of which is taken by its living area. lot size in square feet = 3801, living area = 2680.
Significant Price Discrepancy: The listing price is 15% higher than the property's estimated value, which may suggest an overvaluation compared to market data.
Compact Lot Size: With a lot size of 3801 sqft for a 5-bedroom home, the outdoor space is relatively compact, which might not appeal to buyers seeking a larger yard.
Mandatory Monthly HOA Dues: The property is subject to a $213 monthly association fee, an ongoing cost that buyers must factor into their budget.

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