9051 Walker Street, Cypress, California 90630, Cypress, 90630 - 3 bed, 2 bath

9051 Walker Street, Cypress, California 90630 home-pic-0
ACTIVE$979,000
9051 Walker Street, Cypress, California 90630
3Beds
2Baths
1,249Sqft
7,405Lot
Year Built
1938
Close
-
List price
$979K
Original List price
$979K
Price/Sqft
$784
HOA
-
Days on market
-
Sold On
-
MLS number
OC25139071
Home ConditionTear down
Features
Deck
Patio
ViewNeighborhood

About this home

Possibly Over-Priced:The estimated price is 28% below the list price. We found 4 Cons,6 Pros. Rank: price - $979.0K(29th), sqft - 1249(19th), beds - 3(35th), baths - 2(50th).

Prime Development Opportunity in beautiful City of Cypress – Unlock the full potential of this rare investment opportunity in the heart of Cypress! Situated on a spacious lot, property project comes with preliminary approved permits to develop 3 residential units, offering endless possibilities for investors, developers, or savvy homeowners looking to build equity. This property is ideally located in a desirable, family-friendly neighborhood known for its top-rated schools, convenient access to major freeways, shopping centers, parks, and local amenities. Whether you’re looking to build and sell, hold for rental income, or create a custom multi-generational living setup, the groundwork is already laid for your vision. Highlights: • Preliminary approved permits for 3 units – Save time and money on entitlements • Generous lot size providing ample room for development • Quiet residential street with strong neighborhood appeal • Excellent Cypress School District location • Close to major employers & recreational amenities Opportunities like this don’t come often – bring your vision and build something truly special in one of Orange County’s most sought-after communities.

Price History

Date
Event
Price
12/31/24
Sold
$790,000
12/30/24
Sold
$770,000
04/28/94
Sold
$25,000
Condition Rating
Tear down

The property was built in 1938, making it over 50 years old. The listing explicitly markets it as a 'Prime Development Opportunity' with 'preliminary approved permits to develop 3 residential units,' and states the existing structure will 'likely require significant renovation or demolition.' The listing price is also 28% higher than the estimated value of the current property, indicating the value is in the land for redevelopment, not the existing structure. The exterior images show an old, unmaintained house with an unkempt yard, and no interior photos are provided, strongly suggesting the current structure is beyond repair or not suitable for living without extensive work.
Pros & Cons

Pros

High Available Lot Utilization: The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 7405, living area = 1249.
Development Opportunity with Preliminary Approved Permits: The property offers a prime development opportunity with preliminary approved permits for 3 residential units, saving significant time and money on entitlements for a developer.
Prime Location: Situated in a desirable, family-friendly neighborhood in Cypress, known for top-rated schools, convenient access to major freeways, shopping centers, parks, and local amenities.
Generous Lot Size: The spacious 7,405 sqft lot provides ample room for the proposed multi-unit development, offering flexibility in design and construction.
Investment Flexibility: The property presents diverse possibilities for investors, developers, or savvy homeowners, allowing for build-and-sell, rental income generation, or multi-generational living setups.
Strong Neighborhood Appeal: Located on a quiet residential street, contributing to a strong neighborhood appeal that is attractive to future residents.

Cons

Recently Sold Property: The property was recently sold within the past year on 2024-12-31. The sold price is $790,000.00. The property was recently sold within the past year on 2024-12-30. The sold price is $770,000.00.
Significant Overpricing Relative to Current Value: The listing price of $979,000 is 28% higher than the estimated property value of $698,913.535, suggesting a substantial premium for the development potential rather than the existing structure's value.
Age and Condition of Existing Structure: Built in 1938, the existing single-family residence is very old, implying it will likely require significant renovation or demolition, adding substantial costs to the development project.
Development Project Complexity and Capital Investment: Despite preliminary permits, the actual development of three new residential units will necessitate considerable capital investment, project management, and carries inherent construction risks.

Best solution for experienced home buyers!

Data-driven home buying experience with our licensed real estate agents and cutting-edge AI

Browse Properties by State Browse housing market trends by state