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1496 E Luna Way, Palm Springs, California 92262, Palm Springs, 92262 - 3 bed, 2 bath

1496 E Luna Way, Palm Springs, California 92262 home-pic-0
ACTIVE UNDER CONTRACT$649,900
1496 E Luna Way, Palm Springs, California 92262
3Beds
2Baths
1,560Sqft
9,583Lot

Price Vs. Estimate

The estimated value ($480,450.645) is $169,449.355 (26%) lower than the list price ($649,900). 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 = 1560.
Top Cons:
Requires Immediate Updates/TLC: The property description notes that the home 'requires minor TLC,' indicating that buyers should anticipate immediate investment for cosmetic or functional improvements to bring it to its full potential.

Compared to the nearby listings

Price:$649.9K vs avg $925.0K ($-275,100)18%
Size:1,560 sqft vs avg 2,096 sqft26%
Price/sqft:$417 vs avg $49035%

More Insights

Built in 1991 (34 years old).
Condition: Built in 1991, this property is 33 years old and shows signs of its age. The kitchen features dated light wood cabinets, white countertops, white tile backsplash, and an outdated fluorescent ceiling light panel, though some appliances appear to be newer stainless steel. Bathrooms also exhibit dated vanities, countertops, and tile work. Carpets throughout the living areas and bedrooms appear worn and dated. While the home seems well-maintained and functional, as indicated by the 'minor TLC' note in the description, it requires significant cosmetic updates to modernize the kitchen, bathrooms, and flooring to meet current aesthetic standards.
Year Built
1991
Close
-
List price
$650K
Original List price
$749K
Price/Sqft
$417
HOA
-
Days on market
-
Sold On
-
MLS number
OC25009207
Home ConditionFair
Features
Good View: Hills, Mountain(s)
Pool
Spa
Patio
ViewHills, Mountain(s)

About this home

Discover your dream desert oasis at this perfect pool home in the highly desirable Quail Point development. This charming property features 3 bedrooms, 2 full baths, and 1,560 sq. ft. of living space on a spacious 9,583 sq. ft. corner lot, complete with an oversized two-car garage. This home offers unique expansion potential—the city permits extending both the east wall of the home and the backyard wall an additional 30 feet to match the neighboring property. This opens up exciting possibilities to expand the home, enlarge the yard, or even add an ADU to create your ultimate retreat. Enjoy stunning mountain views from both the front and back yards while taking advantage of the fee-simple ownership (no land lease) and no HOA fees. Located just minutes from downtown Palm Springs, this home is ideally situated to enjoy everything the area has to offer. Perfect for investors, this property has great Airbnb potential. While the home requires minor TLC, it’s the perfect opportunity to bring your own style and vision to life. Priced to sell—don’t miss out!

Nearby schools

6/10
Vista Del Monte Elementary School
Public,•K-5•0.6mi
4/10
Raymond Cree Middle School
Public,•6-8•0.8mi
6/10
Palm Springs High School
Public,•9-12•2.5mi
4/10
Desert Learning Academy
Public,•K-12•2.7mi
Condition Rating
Fair
Built in 1991, this property is 33 years old and shows signs of its age. The kitchen features dated light wood cabinets, white countertops, white tile backsplash, and an outdated fluorescent ceiling light panel, though some appliances appear to be newer stainless steel. Bathrooms also exhibit dated vanities, countertops, and tile work. Carpets throughout the living areas and bedrooms appear worn and dated. While the home seems well-maintained and functional, as indicated by the 'minor TLC' note in the description, it requires significant cosmetic updates to modernize the kitchen, bathrooms, and flooring to meet current aesthetic standards.
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 = 1560.
Significant Expansion Potential: The property offers unique expansion potential, with city permits allowing for a 30-foot extension of the home and backyard, or the addition of an ADU, providing future value and customization opportunities.
No HOA Fees & Fee-Simple Ownership: Benefits from fee-simple ownership (no land lease) and no HOA fees, which reduces ongoing costs and avoids restrictive community regulations, highly desirable in Palm Springs.
Prime Location & Mountain Views: Ideally located just minutes from downtown Palm Springs, offering stunning mountain views from both the front and back yards, enhancing its appeal.
Private Pool & Generous Corner Lot: Features a private pool on a spacious 9,583 sq. ft. corner lot, providing an ideal setting for desert living, relaxation, and entertaining.
Strong Investment/Airbnb Potential: Explicitly highlighted as having great Airbnb potential, making it an attractive option for investors seeking rental income opportunities.

Cons

Requires Immediate Updates/TLC: The property description notes that the home 'requires minor TLC,' indicating that buyers should anticipate immediate investment for cosmetic or functional improvements to bring it to its full potential.
Overpriced Relative to Market Estimate: The current listing price is 26% higher than the property's estimated value, suggesting it may be overvalued compared to current market analytics and comparable sales.
Older Construction & Potential for Dated Features: Built in 1991, the home may feature original systems or aesthetics that could require updating to meet modern buyer expectations and avoid potential future maintenance issues.

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