1111 E Palm Canyon Drive 225, Palm Springs, California 92264, Palm Springs, 92264 - 1 bed, 1 bath
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Palm Springs, California 92264
This Value-Add Mid-Century Asset is listed at $319,000, offering a stable acquisition price aligned with its $315,675 Fair Market Value. Located in the iconic Ocotillo Lodge historic district, this William Krisel-designed unit carries a Condition Rating of 4, providing a strategic "blank canvas" for renovation and forced appreciation. The property’s rare Short-Term Rental Eligibility and potential for Mills Act tax savings maximize its long-term investment yield. Featuring Mountain Views and an all-inclusive HOA, this condo is ideal for Vacation Rental Investors or Value-Add Specialists.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1111 E Palm Canyon Drive 225 Subject | $319,000* List Price | 1 | 1 | 525 | $601 | - |
A 2290 S Palm Canyon Drive 115 Sold | $240,000 | 1 | 1 | 552 | $435 | 0.8 mi |
B 1111 E Palm Canyon Drive 318 Sold | $350,000 | 1 | 1 | 525 | $667 | 0.1 mi |
C 1111 E Palm Canyon Drive 306 Sold | $349,000 | 1 | 1 | 525 | $665 | 0.1 mi |
D 1111 E Palm Canyon Drive 225 Active | $315,000 List Price | 1 | 1 | 525 | $600 | 0.0 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
The property is a well-maintained 1957 mid-century unit that retains much of its original character but shows signs of being outdated. While it features some updates like laminate flooring and a mini-split HVAC system, the kitchen contains basic appliances and older cabinetry, and the listing itself describes the interior as a 'blank canvas' requiring modernization to reach its full potential.
Designed by renowned architects William Krisel and Dan Palmer, this mid-century masterpiece is located in a Class 1 Historic District, offering prestige and potential Mills Act tax benefits.
The property allows short-term rentals and is situated on fee simple land, making it a highly versatile asset for vacation rental investors in a sought-after South Palm Springs location.
The comprehensive HOA coverage includes electricity, water, Wi-Fi, and cable, providing significant value and simplified budgeting for a desert residence where cooling costs can be high.
At nearly $800 per month, the association fees are substantial for a 525-square-foot unit, which may deter buyers sensitive to high fixed carrying costs.
Marketed as a 'blank canvas,' the unit requires a full interior reimagining and modernization to realize its potential, necessitating additional immediate capital investment.
Priced to Sell! Here is your chance to craft a custom Palm Springs escape in one of the desert's most celebrated communities. Don't miss this opportunity to own a piece of Palm Springs history in the iconic Ocotillo Lodge, a mid-century masterpiece designed by renowned architects William Krisel and Dan Palmer in 1957. Nestled on 10 acres of prime South Palm Springs fee simple land (you own the land), this upstairs condo offers a blank canvas to create your dream desert retreat. Delivered mostly furnished, this unit is ready for your personal touch to reimagine its 1957 charm with modern flair. Enjoy the unparalleled lifestyle of Ocotillo Lodge, where HOA dues cover it all: water, electric, Wi-Fi, cable, trash, pool, spa, clubhouse, and gym. Perfect for those seeking a vacation home or investment property, this community allows short-term rentals, making it an ideal choice for the savvy buyer. Savor the retro vibe of this Alexander Company gem, surrounded by the mid-century architecture and allure of the adjacent Twin Palms neighborhood. Don't miss your chance to invest in this legacy. The Ocotillo Lodge is a Class 1 Historic District in the City of Palm Springs, offering owners eligibility to apply for a Mills Act Contract.
No exterior & parking available.
Grades K-5 • 0.5 mi
Grades 6-8 • 3.0 mi
Grades K-12 • 1.4 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 1.0 | 2.0 | 14% |
| Baths | 1.0 | 2.0 | 11% |
| Square foot | 525 | 1,392 | 3% |
| Lot Size | 556 | 871 | 46% |
| Price | $319.0K | $485.0K | 16% |
| Price per sq ft | $608 | $348 | 92% |
| Built year | 1957 | 1976 | 2% |
| HOA | $799.81 | $625 | 72% |
| Days on market | 359 | 156 | 96% |
Aug 24, 2025
$319,000
Initial Listing
Apr 28, 2025
$339,000
Initial Listing