155 W Hermosa Place 3, Palm Springs, California 92262, Palm Springs, 92262 - 1 bed, 1 bath
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Palm Springs, California 92262
This Historically Significant Albert Frey Condo is listed at $435,000, representing a rare architectural asset in the iconic Villa Hermosa complex. While priced above the $395,474 Fair Market Value, the valuation accounts for its prestigious Old Las Palmas location and highly sought-after Short-Term Rental Eligibility. Featuring a Condition Rating of 4 and a private patio, the property is steps from downtown and the Top-Rated Katherine Finchy Elementary. This is a premier opportunity for Mid-Century Enthusiasts or Vacation Rental Investors seeking a high-demand desert sanctuary.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 155 W Hermosa Place 3 Subject | $435,000* List Price | 1 | 1 | 756 | $523 | - |
A 155 W Hermosa Place 4 Sold | $505,000 | 1 | 1 | 756 | $668 | 0.0 mi |
B 291 E Mel Avenue 362 Sold | $370,000 | 2 | 2 | 902 | $410 | 0.4 mi |
C 500 E Amado Road 519 Sold | $472,500 | 2 | 2 | 1,003 | $471 | 0.7 mi |
D 500 E Amado Road 121 Active | $325,000 List Price | 1 | 2 | 736 | $442 | 0.7 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
The property was converted in 2003, making the kitchen and bathroom finishes 21 years old. While the unit is well-maintained and features a newer HVAC system, the cabinetry and countertops are dated and original to the conversion, meeting the criteria for a property over 20 years old needing cosmetic updates.
Designed by legendary architect Albert Frey, this historically significant mid-century modern condo offers a unique piece of Palm Springs architectural history in the iconic Villa Hermosa complex.
The HOA permits short-term rentals, providing a rare and lucrative opportunity for generating vacation rental income in a highly sought-after market.
Situated in the prestigious Old Las Palmas neighborhood, the property is within walking distance to world-class shopping, art galleries, dining, and entertainment.
At only 756 square feet with a single bedroom, the property offers limited space which may not appeal to buyers seeking a more spacious primary residence.
The $541 monthly association fee is relatively high for a one-bedroom unit, which could impact the overall return on investment for some buyers.
Price Reduction - Unique 1 bed / 1 bath (756 sq. ft) condo located in the mid-century modern complex Villa Hermosa. This historically significant condominium designed by legendary architect Albert Frey, is in the Old Las Palmas neighborhood right in the heart of downtown Palm Springs. Originally built in 1947 as an iconic hotel. In 2003, it was converted into a collection of modern condominiums, preserving its architectural legacy. Bottom level unit and one of the best locations, offering wonderful natural light and lovely views. Open floor plan with large living room and cute patio. Villa Hermosa is a unique investment opportunity with the HOA allowing short-term rentals. Whether seeking a weekend getaway, full-time residence, or rental income. One is walking distance to world-class shopping, art galleries, dining, and entertainment. This property offers a piece of mid-century architectural brilliance and at the same time the opportunity to put your own signature on it. The AC unit is a just a few years old. Call listing agent (760) 413-6595 for viewing appointment at 155 West Hermosa Unit # 3 or additional questions.
No exterior & parking available.
Grades K-5 • 0.5 mi
Grades 6-8 • 0.9 mi
Grades 9-12 • 2.0 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 1.0 | 2.0 | 35% |
| Baths | 1.0 | 2.0 | 34% |
| Square foot | 756 | 1,122.5 | 26% |
| Lot Size | 436 | 436 | 50% |
| Price | $435.0K | $361.0K | 61% |
| Price per sq ft | $575 | $347 | 94% |
| Built year | 2003 | 1981 | 87% |
| HOA | $541.0 | $550 | 46% |
| Days on market | 23 | 182 | 1% |
Apr 16, 2026
$435,000
$449,000
-3% Price Drop
Initial Listing
Mar 31, 2026
$449,000
Initial Listing
May 22, 2007
$259,000
Public Record
May 31, 2006
$269,000
Public Record
Feb 25, 2005
$235,000
Public Record
Feb 26, 2004
$175,000
Public Record