2062 S Chico Drive, Palm Springs, California 92264, Palm Springs, 92264 - 5 bed, 5 bath
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Palm Springs, California 92264
This Spacious Single Family Residence represents a Strong Value Opportunity, listed at $1,985,000—positioned well above the $1,836,840 Fair Market Value by -8%. While priced at a premium, the property features Fee Land Ownership in Indian Canyons and a 2025 updated saltwater pool. With a Fair Condition Rating and dated interior finishes, the home offers significant potential for cosmetic modernization. It is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking a luxury footprint with panoramic mountain views and advanced solar energy efficiency.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 2062 S Chico Drive Subject | $1,985,000* List Price | 5 | 5 | 3,252 | $565 | - |
A 1414 S Sagebrush Road Sold | $1,450,000 | 5 | 5 | 2,798 | $518 | 0.7 mi |
B 1440 E Maricopa Drive Sold | $2,006,000 | 3 | 3 | 3,019 | $664 | 0.1 mi |
C 2923 Candlelight Lane Sold | $1,900,000 | 3 | 4 | 3,016 | $630 | 0.9 mi |
D 1955 S Yucca Place Active | $1,545,000 List Price | 3 | 4 | 2,950 | $524 | 0.4 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1974, the property is well-maintained but features dated interior elements. While the pool was updated in 2025 and modern solar/HVAC mini-splits are present, the bathrooms and wet bar show finishes and cabinetry likely 20-30 years old, fitting the 'Fair' criteria for dated aesthetics needing minor updates.
Located in the prestigious Indian Canyons neighborhood, this property is on fee land, offering a significant value advantage in Palm Springs by avoiding the complications of land leases.
The home features a sophisticated solar system with battery storage and full production offset, providing substantial utility savings and sustainability in the desert climate.
With over 3,200 square feet, grand cathedral ceilings, and five bedrooms—including a media room and three ensuites—the floor plan offers exceptional flexibility for luxury living and entertaining.
The solar system is a hybrid of owned and rented components, which may complicate the escrow process and require the buyer to assume specific lease terms.
The presence of carpeted bedrooms alongside 18-inch tile in a nearly $2M home may be perceived as dated, likely requiring a flooring upgrade to meet modern luxury standards.
Stunning 5-bedroom, 5-bath residence in Indian Canyons South Palm Springs, on fee land. Versatile floor plan includes one of the 5 bedrooms currently used as a media room and three with ensuite bedrooms for privacy and comfort. Grand cathedral ceilings accentuate the living and dining areas, while a convenient wet bar adjoins the dining space. The primary suite offers a dressing area and walk-in closet; a second bedroom also includes a walk-in closet. Two bedrooms are carpeted; main living areas feature 18-inch tile flooring. Outdoor living showcases a covered back patio, a side yard with a Pebble Tec saltwater pool updated September 2025. Solar system is partially owned, partially rented with batteries and full production offset.
No exterior & parking available.
Grades K-5 • 1.1 mi
Grades 6-8 • 3.5 mi
Grades K-12 • 1.5 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 5.0 | 3.0 | 95% |
| Baths | 5.0 | 3.0 | 86% |
| Square foot | 3,252 | 2,330 | 79% |
| Lot Size | 10,890 | 10,019 | 59% |
| Price | $1.99M | $1.44M | 76% |
| Price per sq ft | $610 | $623 | 45% |
| Built year | 1974 | 1976 | 44% |
| HOA | $0 | $0 | 50% |
| Days on market | 9 | 144 | 1% |
May 29, 2026
$1,985,000
Initial Listing
Jan 13, 2006
$860,000
Public Record
Aug 15, 2003
$465,000
Public Record