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1494 E Gem Circle, Palm Springs, California 92262, Palm Springs, 92262 - 3 bed, 2 bath

1494 E Gem Circle, Palm Springs, California 92262 home-pic-0
ACTIVE UNDER CONTRACT$699,000
1494 E Gem Circle, Palm Springs, California 92262
3Beds
2Baths
1,475Sqft
9,583Lot

Price Vs. Estimate

The estimated value ($681,310.94) is $17,689.06 (2%) lower than the list price ($699,000). This property may be overpriced.

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 = 9583, living area = 1475.
Top Cons:
Potential for System Updates: Built in 1990, major systems (e.g., HVAC, water heater) may be original or nearing the end of their lifespan, potentially requiring future investment for upgrades or replacement.

Compared to the nearby listings

Price:$699.0K vs avg $925.0K ($-226,000)21%
Size:1,475 sqft vs avg 2,096 sqft21%
Price/sqft:$474 vs avg $49045%

More Insights

Built in 1990 (35 years old).
Condition: The property, built in 1990, is well-maintained and features appealing updates in the main living areas, such as modern LVP flooring, updated ceiling fans, and double-pane sliders. The outdoor pool area is also modern and inviting. However, the kitchen and bathrooms show signs of being outdated. The kitchen has older white appliances and a very specific teal cabinet color, despite updated countertops. The bathrooms are clean and functional but feature older vanity styles and tile. While move-in ready, a buyer would likely desire updates to the kitchen appliances and cabinet aesthetics, as well as a refresh of the bathrooms to align with current design trends. The age of major systems (HVAC, water heater) also suggests potential future investment.
Year Built
1990
Close
-
List price
$699K
Original List price
$699K
Price/Sqft
$474
HOA
-
Days on market
-
Sold On
-
MLS number
25612335PS
Home ConditionFair
Features
Excellent View: Mountain(s), Pool
Pool
Spa
Patio
ViewMountain(s), Pool

About this home

Wow! Bright, stylish, and perfectly positioned for the Palm Springs good life. Poolside mountain views too! This furnished 3 bedroom, 2 bath home celebrates open concept living and resort-style outdoor spaces with sliders from the living, dining, and kitchen areas that open to the saltwater pool, spa, and Baja sunning deck surrounded by mature palms. Vaulted ceilings and clerestory windows fill the interiors with light. Set on Fee Land, you own the land, with underground utilities so no overhead wires interrupt the views. The ensuite primary suite offers direct pool access and a generous walk-in closet, while guest bedrooms share a full bath with clerestory window. Double pane windows and sliders add to the appeal. Two-car garage and utility room just off the kitchen. Waterwise landscaping keeps upkeep simple. Located in Quail Point, a community of 83 homes in Vista Norte with no HOA and not gated. Currently eligible for Short Term Rental permits from the city. Take the Matterport Virtual Tour for a better sense of flow.

Nearby schools

6/10
Vista Del Monte Elementary School
Public,•K-5•0.6mi
4/10
Raymond Cree Middle School
Public,•6-8•0.7mi
6/10
Palm Springs High School
Public,•9-12•2.5mi
4/10
Desert Learning Academy
Public,•K-12•2.7mi

Price History

Date
Event
Price
06/16/00
Sold
$152,000
04/29/22
Sold
$800,000
Condition Rating
Fair
The property, built in 1990, is well-maintained and features appealing updates in the main living areas, such as modern LVP flooring, updated ceiling fans, and double-pane sliders. The outdoor pool area is also modern and inviting. However, the kitchen and bathrooms show signs of being outdated. The kitchen has older white appliances and a very specific teal cabinet color, despite updated countertops. The bathrooms are clean and functional but feature older vanity styles and tile. While move-in ready, a buyer would likely desire updates to the kitchen appliances and cabinet aesthetics, as well as a refresh of the bathrooms to align with current design trends. The age of major systems (HVAC, water heater) also suggests potential future investment.
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 = 9583, living area = 1475.
Fee Simple Ownership: The property is on Fee Land, meaning the buyer owns the land outright, a significant advantage in Palm Springs where many properties are on leased land.
Short-Term Rental Potential: Eligibility for city short-term rental permits offers excellent income-generating opportunities, appealing to investors and those seeking a vacation home with revenue potential.
Private Resort-Style Amenities: Features a saltwater pool, spa, and Baja sunning deck, creating a private resort-like outdoor living experience ideal for the Palm Springs lifestyle.
No HOA & Unobstructed Views: The absence of an HOA reduces monthly costs and restrictions, while underground utilities ensure unobstructed mountain and poolside views.
Bright, Open Concept with Views: Vaulted ceilings, clerestory windows, and an open-concept design maximize natural light and showcase desirable mountain views.

Cons

Potential for System Updates: Built in 1990, major systems (e.g., HVAC, water heater) may be original or nearing the end of their lifespan, potentially requiring future investment for upgrades or replacement.
Furnished Sale: Being sold furnished may not appeal to all buyers who prefer to personalize the space with their own furnishings, potentially narrowing the buyer pool.
Active Under Contract Status: The current 'Active Under Contract' status means the property is not immediately available for new offers, which can deter potential buyers from engaging.

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