7565 23rd Street, Westminster, California 92683, Westminster, 92683 - bed, bath

7565 23rd Street, Westminster, California 92683 home-pic-0
ACTIVE$1,400,000
7565 23rd Street, Westminster, California 92683
0Bed
0Bath
4,125Sqft
7,313Lot
Year Built
2025
Close
-
List price
$1.4M
Original List price
$1.68M
Price/Sqft
$339
HOA
-
Days on market
-
Sold On
-
MLS number
OC25218958
Home ConditionTear down
Features
View-

About this home

We found 3 Cons,5 Pros. Rank: price - $1.40M(50th), sqft - 4125(50th), beds - undefined(50th), baths - undefined(50th).

Owner/Developer opportunity to build. This is vacant land with approved plans ready to be pulled for a duplex and an ADU in Westminster (Zoned R2). The price does NOT include construction of the 3 units. Each unit is separately metered for water, electricity and gas making management a breeze. Each duplex unit was intelligently designed to maximize space, utility, functionality and comfort, including 10’ ceilings on both the 1st and 2nd floors serving as grand design features while doubling as additional overhead storage space; 1st floor guest powder room for convenience and 2nd floor privacy; interior laundry closet; spacious open common areas with a large kitchen island; 1st floor mudroom; and attached 2-car garage. The 2nd floor of each duplex unit has a primary bedroom with an en suite bathroom, walk-in closet and balcony. The 2 secondary bedrooms (1 with a balcony) have extensive closet space and share a Jack-&-Jill bathroom with 2 separate vanity areas to accommodate each secondary bedroom. The 799 sqft ADU, also with 10’ ceilings, was efficiently designed for 2 bedrooms, 2 bathrooms, almost 13’ of closet/storage space in each bedroom, and an interior laundry closet. Seller will delay construction for 30 days to sell the property. However, Seller will start construction after 30 days and will still consider offers, but the price will be adjusted depending on the stage of construction.

Price History

Date
Event
Price
12/16/25
Price Change
$1,400,000-16.4%
09/18/25
Listing
$1,675,000
Condition Rating
Tear down

This listing is for vacant land with approved plans for a duplex and ADU, not an existing built structure. The 'year_built: 2025' and all provided images are renderings of proposed new construction. In its current state, the property is unlivable as there is no existing dwelling, and its value is based solely on the land and its potential for redevelopment, which aligns with the 'Tear-down' criteria.
Pros & Cons

Pros

Development-Ready Opportunity: The property comes with approved plans for a duplex and an ADU, ready to be pulled, significantly reducing the time and uncertainty typically associated with obtaining building permits.
High Income Potential: The ability to build three separate, independently metered units (two duplex units and one ADU) offers substantial rental income potential and diversified cash flow.
Optimized Unit Design: The proposed units feature intelligent designs including 10' ceilings, spacious layouts, en-suite primary bathrooms, walk-in closets, balconies, and interior laundry, enhancing tenant appeal and market value.
Strategic Zoning: Zoned R2 in Westminster, the property is ideally suited for multi-family residential development, aligning perfectly with the approved plans for a duplex and ADU.
New Construction Appeal: Upon completion, the units will be brand new, attracting premium tenants and potentially commanding higher rental rates compared to older properties in the area.

Cons

Significant Additional Investment Required: The listed price is for vacant land and approved plans only; it explicitly does NOT include the substantial cost of constructing the three units, requiring significant additional capital outlay.
Owner/Developer Requirement: This is not a turnkey investment but an 'Owner/Developer opportunity,' demanding a buyer with the necessary construction management expertise, capital, and time commitment.
Delayed Income Generation: There is no immediate rental income; revenue generation is contingent upon the successful and timely completion of construction, which introduces a period of non-income-producing investment.

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