1370 E Gem Circle, Palm Springs, California 92264, Palm Springs, 92264 - 3 bed, 2 bath

1370 E Gem Circle, Palm Springs, California 92264 home-pic-0
ACTIVE$625,000
1370 E Gem Circle, Palm Springs, California 92264
3Beds
2Baths
1,258Sqft
7,405Lot

Price Vs. Estimate

Estimation data not available

Key pros and cons

Top 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 = 1258.
Top Cons:
Land Lease Property: The property is subject to a land lease ($350/month, extending to 2077), which can impact financing options and long-term appreciation compared to fee simple ownership.

Compared to the nearby listings

Price:$625.0K vs avg $1.28M ($-653,500)6%
Size:1,258 sqft vs avg 2,172.5 sqft9%
Price/sqft:$497 vs avg $59130%

More Insights

Built in 1982 (43 years old).
Condition: The property was built in 1982, making it 42 years old. While the listing states it is 'meticulously maintained' with 'updated dual-pane windows and sliders' and a 'recently resurfaced pool,' the kitchen, as depicted in the images, features older white appliances (e.g., Maytag microwave, white gas range) and dated dark wood cabinets with basic white laminate countertops. This indicates the kitchen has not been extensively renovated recently. The tile flooring throughout most of the home and the carpet in bedrooms appear clean but are consistent with an older style. The overall condition suggests regular upkeep and some functional updates, but the aesthetic and features of key areas like the kitchen are outdated, aligning with the 'Fair' criteria for a property built over 20 years ago with major components showing signs of being outdated, or having undergone renovations 15-30 years ago.
Year Built
1982
Close
-
List price
$625K
Original List price
$619K
Price/Sqft
$497
HOA
-
Days on market
-
Sold On
-
MLS number
219137983PS
Home ConditionFair
Features
Excellent View: Mountain(s)
Pool
Patio
ViewMountain(s)

About this home

Discover this delightful and meticulously maintained home nestled on a peaceful cul-de-sac in Victoria Park. The secluded backyard is an entertainer's dream, boasting panoramic mountain views and a spacious pool, all without the distraction of power lines. The pool has been recently resurfaced. Enter through a charming front patio into an open living area featuring vaulted ceilings and a cozy fireplace. The kitchen offers ample cabinet space, a pantry, and a convenient breakfast bar. Tile flooring throughout most of the home, with the exception of two bedrooms. The primary en-suite bedroom is generously sized to fit a king bed and provides direct access to the sparkling pool . Two additional guest bedrooms share a central bathroom. Updated dual-pane windows and sliders enhance energy efficiency. The home features mostly desert landscaping, including fruit trees and native drought-tolerant shrubs with irrigation systems, and includes an attached one-car garage complete with washer and dryer. Located within an area that permits short-term vacation rentals, this neighborhood is conveniently close to downtown and dining options. The home comes furnished with quality furniture and beds if you wish to keep these. Ready for your seamless move-in, or immediate rental investment, with everything from kitchenware/ dishware/ bakeware and bedding. The land lease is only $350 per month and extends to 2077 for long term value. If you are looking for the perfect starter home in Palm Springs, you have found it!

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

The property was built in 1982, making it 42 years old. While the listing states it is 'meticulously maintained' with 'updated dual-pane windows and sliders' and a 'recently resurfaced pool,' the kitchen, as depicted in the images, features older white appliances (e.g., Maytag microwave, white gas range) and dated dark wood cabinets with basic white laminate countertops. This indicates the kitchen has not been extensively renovated recently. The tile flooring throughout most of the home and the carpet in bedrooms appear clean but are consistent with an older style. The overall condition suggests regular upkeep and some functional updates, but the aesthetic and features of key areas like the kitchen are outdated, aligning with the 'Fair' criteria for a property built over 20 years ago with major components showing signs of being outdated, or having undergone renovations 15-30 years ago.
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 = 1258.
Exceptional Outdoor Living & Views: The secluded backyard offers panoramic mountain views, a spacious, recently resurfaced pool, and no power line distractions, creating an ideal setting for entertainment and relaxation.
Turnkey & Rental Income Potential: Offered fully furnished with quality items, this home is move-in ready or an immediate, lucrative short-term vacation rental investment due to its permitted zoning.
Prime & Peaceful Location: Nestled on a quiet cul-de-sac in Victoria Park, the property provides convenient access to downtown Palm Springs and various dining options.
Energy Efficient & Well-Maintained: This meticulously maintained home features updated dual-pane windows and sliders for enhanced energy efficiency, complemented by drought-tolerant landscaping with irrigation.
Charming Interior Features: The interior boasts an open living area with vaulted ceilings, a cozy fireplace, and a generously sized primary en-suite bedroom with direct pool access.

Cons

Land Lease Property: The property is subject to a land lease ($350/month, extending to 2077), which can impact financing options and long-term appreciation compared to fee simple ownership.
Limited Interior Space: At 1258 sqft for a 3-bedroom home, the interior living space may be considered compact for some buyers, particularly those seeking larger rooms or more expansive common areas.
Single-Car Garage: The attached one-car garage may be a limitation for households with multiple vehicles or those requiring additional storage space.

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