1351 E Gem Circle, Palm Springs, California 92262, Palm Springs, 92262 - 3 bed, 2 bath

1351 E Gem Circle, Palm Springs, California 92262 home-pic-0
ACTIVE UNDER CONTRACT$675,000
1351 E Gem Circle, Palm Springs, California 92262
3Beds
2Baths
1,258Sqft
6,534Lot

Price Vs. Estimate

The estimated value ($582,210.09) is $92,789.91 (13%) lower than the list price ($675,000). This property may be overpriced.

Key pros and cons

Top Pros:
Exceptional Investment Opportunity: This property is fully furnished, turnkey, and explicitly Airbnb-ready with confirmed eligibility for a Vacation Rental Certificate due to low neighborhood density, making it ideal for immediate income generation.
Top Cons:
Land Lease Structure: Despite the extended term, the property is on leased land, which can be a deterrent for some buyers who prefer fee simple ownership and may impact financing options or long-term appreciation compared to similar fee-simple properties.

Compared to the nearby listings

Price:$675.0K vs avg $925.0K ($-250,000)20%
Size:1,258 sqft vs avg 2,096 sqft6%
Price/sqft:$537 vs avg $49157%

More Insights

Built in 1982 (43 years old).
Condition: Built in 1982, this property is well-maintained and move-in ready, but its age and the style of some components place it in the 'Fair' category. The kitchen features white appliances and basic laminate countertops, suggesting an older renovation or original components, while the white shaker cabinets appear more recent. The hall bathroom has an updated vanity but older style lighting. While clean and functional, the property would benefit from more modern updates to the kitchen and bathrooms, and there's no mention of recent updates to major systems like HVAC or roofing, which is a consideration for a home of this age.
Year Built
1982
Close
-
List price
$675K
Original List price
$730K
Price/Sqft
$537
HOA
-
Days on market
-
Sold On
-
MLS number
PW25114296
Home ConditionFair
Features
Good View: Mountain(s), Neighborhood
Pool
Patio
ViewMountain(s), Neighborhood

About this home

PRICE REDUCTION Discover this Airbnb-ready, fully furnished, turnkey three-bedroom, two-bath home nestled on a peaceful cul-de-sac in the highly desirable Victoria Park/Vista Norte community, just a 5-minute drive from downtown Palm Springs. Perfect for homeowners or investors, this property is ready for short-term rentals with the Vista de Norte neighborhood having only 13.88% short-term rental density, well below the City’s 20% cap, ensuring eligibility for a Vacation Rental Certificate. The inviting family room flows smoothly into the dining area and an open kitchen with a breakfast bar, ideal for entertaining. The main en suite bedroom provides direct backyard access, creating a private retreat. Two spacious secondary bedrooms share a stylishly updated hall bathroom. The backyard is a true oasis, featuring a sparkling pool surrounded by wrap-around metal fencing for privacy and stunning mountain views. The front of the property has a cozy covered porch and professionally designed landscaping, boosting curb appeal. All furniture is included, making this a seamless turnkey opportunity for immediate use or rental income. Key Highlight: The property’s land lease has been extended to 2077, offering long-term value and peace of mind. Don’t miss this rare opportunity to own a fully furnished piece of Palm Springs paradise, ready for personal enjoyment or as a lucrative Airbnb investment! Disclaimer: The information provided in this listing is deemed reliable but not guaranteed. Buyers are advised to conduct their own due diligence and verify all facts related to the property, including short-term rental permitting with the City of Palm Springs.

Nearby schools

6/10
Vista Del Monte Elementary School
Public,K-50.4mi
4/10
Raymond Cree Middle School
Public,6-80.6mi
6/10
Palm Springs High School
Public,9-122.5mi
4/10
Desert Learning Academy
Public,K-122.7mi
Condition Rating
Fair

Built in 1982, this property is well-maintained and move-in ready, but its age and the style of some components place it in the 'Fair' category. The kitchen features white appliances and basic laminate countertops, suggesting an older renovation or original components, while the white shaker cabinets appear more recent. The hall bathroom has an updated vanity but older style lighting. While clean and functional, the property would benefit from more modern updates to the kitchen and bathrooms, and there's no mention of recent updates to major systems like HVAC or roofing, which is a consideration for a home of this age.
Pros & Cons

Pros

Exceptional Investment Opportunity: This property is fully furnished, turnkey, and explicitly Airbnb-ready with confirmed eligibility for a Vacation Rental Certificate due to low neighborhood density, making it ideal for immediate income generation.
Prime Location: Situated on a peaceful cul-de-sac in the highly desirable Victoria Park/Vista Norte community, just a 5-minute drive from downtown Palm Springs, offering convenience and appeal.
Extended Land Lease: The land lease has been significantly extended to 2077, providing long-term value and peace of mind, which mitigates a common concern associated with leased land properties.
Private Outdoor Oasis: The backyard features a sparkling pool, wrap-around metal fencing for privacy, stunning mountain views, and professionally designed landscaping, enhancing both lifestyle and rental appeal.
Turnkey & Fully Furnished: Offered fully furnished, this property provides a seamless, ready-to-use opportunity for personal enjoyment or immediate rental income without additional setup costs.

Cons

Land Lease Structure: Despite the extended term, the property is on leased land, which can be a deterrent for some buyers who prefer fee simple ownership and may impact financing options or long-term appreciation compared to similar fee-simple properties.
Age of Property: Built in 1982, the property is over 40 years old. While some updates are mentioned (hall bathroom), the description does not detail updates to major systems (HVAC, roof, plumbing, electrical), which could lead to future maintenance costs.
Price Reduction History: The property has undergone multiple price reductions from its original listing price, which might suggest it was initially overpriced or has faced challenges attracting buyers, potentially raising questions about its current market value.

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