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1585 E Madrona Drive, Palm Springs, California 92264, Palm Springs, 92264 - 3 bed, 2 bath

1585 E Madrona Drive, Palm Springs, California 92264 home-pic-0
ACTIVE$1,499,999
1585 E Madrona Drive, Palm Springs, California 92264
3Beds
2Baths
2,171Sqft
10,019Lot
Year Built
1966
Close
-
List price
$1.5M
Original List price
$1.5M
Price/Sqft
$691
HOA
-
Days on market
-
Sold On
-
MLS number
24422641
Home ConditionExcellent
Features
Good View: Mountain(s)
Pool
Spa
Patio
ViewMountain(s)

About this home

Possibly Over-Priced:The estimated price is 37% below the list price. We found 3 Cons,6 Pros. Rank: price - $1.50M(61th), sqft - 2171(50th), beds - 3(50th), baths - 2(33th).

Discover this stunning Mid-Century Modern pool home in the highly sought-after Historic Indian Canyons neighborhood. Situated on fee simple land with no HOA and short-term rentals allowed, this home offers style, space, and income potential. Inside, you'll find 2 spacious bedrooms, 2 bathrooms, and a generous bonus bedroom, all infused with unique design elements. The expansive living area includes a gas fireplace, built-in bar, and open dining area that flows into the bright kitchen all with views of the pool. The primary suite features a newly remodeled Roman-style soaking tub, while both bathrooms boast playful, stylish finishes. Outside, the reimagined backyard oasis invites you to relax on the tanning shelf in the private pool, unwind in the large spa, and take in breathtaking mountain views from the private, tree-lined corner lot. Airbnb licenses are still available in this area, don't miss out on this rare opportunity!

Nearby schools

4/10
Cahuilla Elementary School
Public,•K-5•0.9mi
4/10
Raymond Cree Middle School
Public,•6-8•3.3mi
4/10
Desert Learning Academy
Public,•K-12•1.4mi
6/10
Palm Springs High School
Public,•9-12•1.7mi
Condition Rating
Excellent
Despite being built in 1966, this Mid-Century Modern home has undergone extensive and high-quality renovations, particularly evident in the kitchen and bathrooms. The kitchen features modern white cabinetry, quartz countertops, new stainless steel appliances (including a contemporary refrigerator), and stylish gold/brass hardware and light fixtures. Both bathrooms are completely updated with modern vanities, new tiling, contemporary fixtures (including a rain shower head and a newly remodeled Roman-style soaking tub in the primary suite), and sleek designs. The entire home boasts consistent, modern wood-look flooring and updated lighting throughout. The 'reimagined backyard oasis' with a modern pool and outdoor living spaces further enhances its appeal. All visible components appear new or virtually new, meeting current quality standards with no visible deferred maintenance, indicating a recent and comprehensive renovation.
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 = 10019, living area = 2171.
Prime Location & Investment Potential: Situated in the highly sought-after Historic Indian Canyons neighborhood on fee simple land with no HOA, and crucially, short-term rentals are allowed with Airbnb licenses still available, offering significant income potential.
Mid-Century Modern Charm & Updates: A stunning Mid-Century Modern architectural style home featuring unique design elements, a newly remodeled primary suite with a Roman-style soaking tub, and stylish finishes in both bathrooms.
Exceptional Outdoor Living & Views: The reimagined private backyard oasis includes a pool with a tanning shelf, a large spa, and breathtaking mountain views from a private, tree-lined corner lot, perfect for relaxation and entertaining.
Spacious & Functional Interior: An expansive living area boasts a gas fireplace, built-in bar, and an open dining area that flows into a bright kitchen, all offering views of the pool, complemented by a generous bonus bedroom.
No HOA & Fee Simple Land: The property is on fee simple land with no Homeowners Association, providing greater ownership flexibility and avoiding additional monthly fees.

Cons

Significant Price Discrepancy: The current listing price is substantially higher than the property's estimated value, which could impact market competitiveness and buyer perception of value.
Age of Core Systems: Built in 1966, while cosmetically updated, the property's age suggests that core systems (e.g., plumbing, electrical, HVAC) may be original or older, potentially requiring future maintenance or upgrades not explicitly mentioned.
Limited Bathroom Count: With 3 bedrooms and only 2 bathrooms, the property's bathroom-to-bedroom ratio might be considered low for its size and price point, potentially limiting appeal for larger families or certain rental markets.

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