738 N Lemon, Anaheim, California 92805, Anaheim, 92805 - 4 bed, 3 bath
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Anaheim, California 92805
This Turnkey Historic Residence is a High-Potential Investment Opportunity, listed at $989,900—positioned well below the $1,034,535 Fair Market Value by 4%. This valuation gap offers $44,635 in Instant Equity. Featuring a Mint Condition Rating, the property includes a brand-new permitted ADU and modern system upgrades. With Mills Act eligibility and a prime location in the Anaheim Colony Historic District, this asset is ideal for Buy-and-Hold Investors or Owner-Occupants seeking immediate rental income and long-term tax benefits.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 738 N Lemon Subject | $989,900* List Price | 4 | 3 | 1,758 | $588 | - |
A 211 N Resh Sold | $970,000 | 3 | 3 | 1,523 | $637 | 0.6 mi |
B 925 W Autumn Sold | $1,125,000 | 4 | 3 | 1,617 | $696 | 0.7 mi |
C 805 N Clementine Sold | $1,034,500 | 3 | 2 | 1,504 | $688 | 0.1 mi |
D 724 N Vine Active | $999,999 List Price | 5 | 3 | 1,656 | $604 | 0.6 mi |
* Subject property listed price vs sold prices of comps.
Property is new construction or fully renovated.
Despite the 1925 build date, the property has undergone a comprehensive recent renovation (under 5 years) including a brand new ADU. The kitchen and bathrooms feature modern finishes and fixtures, and all critical systems—including HVAC, electrical wiring/panel, copper plumbing, and the water heater—have been recently updated, meeting the criteria for mint condition with no immediate maintenance needed.
This 1925 property offers the rare combination of historic character and complete modernization, featuring updated electrical, copper plumbing, and newer central HVAC, eliminating the typical renovation risks of older homes.
The inclusion of a brand-new, permitted 280 sq. ft. ADU with a full kitchen and bath provides immediate potential for rental income, a private home office, or multi-generational living.
Eligibility for the Mills Act offers significant property tax savings, providing a substantial long-term financial incentive that is unique to designated historic district properties.
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =6159, other record lot size in square feet = 6236. Living area discrepancy between mls listing and other public or private record. mls listing living area = 1758, other record living area = 1478. Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 4, other record bedroom count = 3.
The property is served by local schools with lower performance ratings, specifically the assigned middle school which holds a 1/10 rating, potentially impacting appeal for education-focused families.
While the ADU is a valuable addition, its compact 280-square-foot footprint is quite small and may be restrictive for long-term residents or those requiring more than a studio-style layout.
Rare historic stunner in the heart of Downtown Anaheim in the Anaheim Colony Historic District! If you love character but want zero renovation stress, this turn-key property is a dream come true. Meticulously updated this 3-bedroom, 2-bathroom main home (approx. 1,500 sq ft) and a brand NEW ADU (280 square feet) sits on a generous 6,159 sq ft lot and features a BRAND NEW permitted and attached laundry room, the BRAND NEW permitted ADU is complete with a full kitchen and full bath—perfect for rental income, multi-generational living, or a private home office. The main home welcomes you with a charming covered front porch, leading into a spacious living and dining area boasting gorgeous, seamless plank floors. The remodeled generously-sized kitchen features an open concept layout with a movable center island and a cozy breakfast nook. Relax in the primary bedroom, with its remodeled en-suite bathroom and two full-sized closets. Additional highlights include a generous dining room, spacious bedrooms, smooth ceilings, convenient inside laundry and a basement for extra storage. There is so much natural light! Unlike most historic properties, all the heavy lifting is done: newer central AC/heat, updated electrical wiring & panel, copper plumbing, newer drain lines, and a newer water heater. Step outside to a freshly sodded backyard ready for entertaining, plus rare RV parking. Unmatched walkability to vibrant downtown Anaheim’s Packing District, Pearson Park, and incredible neighborhood architecture. Truly a rare find! This house is eligible for the Mills Act and we have the details!
No exterior & parking available.
Grades K-6 • 0.5 mi
Grades K-6 • 1.1 mi
Grades K-6 • 1.1 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 4.0 | 3.0 | 71% |
| Baths | 3.0 | 2.0 | 74% |
| Square foot | 1,758 | 1,472 | 80% |
| Lot Size | 6,159 | 6,169 | 50% |
| Price | $989.9K | $926.0K | 71% |
| Price per sq ft | $563 | $657 | 30% |
| Built year | 1925 | 1953 | 27% |
| HOA | $0 | $0 | 50% |
| Days on market | 3 | 134 | 3% |
Jun 3, 2026
$989,900
Initial Listing
Aug 28, 2020
$675,000
Public Record
Jun 4, 2018
$615,000
Public Record
May 19, 2016
$565,000
Public Record
Aug 28, 2015
$490,000
Public Record
Dec 17, 2014
$330,000
Public Record
Dec 17, 1998
$150,000
Public Record