246 W Vereda Norte, Palm Springs, California 92262, Palm Springs, 92262 - 4 bed, 4 bath
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Palm Springs, California 92262
This Designer Desert Compound Estate represents a Strong Value Opportunity, listed at $3,300,000—positioned well below the $3,583,923 Fair Market Value by 7%. This valuation gap offers $283,923 in Instant Equity. Boasting a Mint Condition Rating following a comprehensive high-end renovation, the property features a reimagined chef's kitchen, two private casitas, and a resort-style pool with panoramic San Jacinto mountain views. Located in prestigious Old Las Palmas near Katherine Finchy Elementary, this STR-eligible asset is ideal for Luxury Lifestyle Seekers or High-End Investors.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 246 W Vereda Norte Subject | $3,300,000* List Price | 4 | 4 | 3,433 | $1,044 | - |
A 1255 Camino Mirasol Sold | $3,250,000 | 4 | 5 | 3,003 | $1,082 | 0.3 mi |
B 367 Tamarisk Road Sold | $2,800,000 | 5 | 5 | 3,504 | $799 | 0.6 mi |
C 783 N Rose Avenue Sold | $3,695,000 | 5 | 4 | 3,386 | $1,091 | 0.8 mi |
D 429 Camino Sur Sold | $3,750,000 | 3 | 3 | 3,146 | $1,192 | 0.3 mi |
E 797 W Via Vadera Sold | $2,598,000 | 3 | 3 | 2,146 | $1,211 | 0.5 mi |
F 418 E Via Colusa Sold | $2,365,000 | 4 | 4 | 2,241 | $1,055 | 0.8 mi |
G 1326 N Rose Avenue Active | $3,300,000 List Price | 4 | 4 | 2,978 | $1,108 | 0.6 mi |
* Subject property listed price vs sold prices of comps.
Property is new construction or fully renovated.
The property has undergone a comprehensive high-end renovation within the last 5 years, featuring a completely reimagined chef's kitchen, brand-new flooring, and designer finishes throughout. Despite the 1977 build date, the mint condition and modern systems make it a turnkey luxury estate.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 15682, living area = 3433.
Situated in the prestigious Old Las Palmas neighborhood, this estate offers rare walkability to downtown Palm Springs' dining and nightlife while maintaining the privacy of a walled, non-HOA compound.
The property features two private attached casitas with separate entrances and ensuite baths, providing exceptional flexibility for multi-generational living or high-end rental income potential.
The property was purchased for $2.5M in April 2024; the current $3.3M asking price represents a substantial premium in a short period, which may lead to appraisal challenges or buyer resistance.
The assigned middle and high schools carry relatively low ratings (4/10), which could be a drawback for families prioritizing top-tier public education within their residential investment.
Own a rare, fully-updated, walled-compound estate in Old Las Palmas--Palm Springs' most iconic luxury neighborhood with no HOA and no gated-community restrictions. This designer desert retreat blends sophistication with unbeatable walkability, just blocks away from downtown Palm Springs' dining, shopping, and nightlife.Inside the home, you'll find brand-new flooring, a completely reimagined chef's kitchen, fresh designer paint, and curated high-end furnishings that make the home feel like a private boutique escape. The layout is ideal for homeowners and investors alike, featuring two private attached casitas (each with separate entrances and ensuite bathrooms)--perfect for hosting guests, generating rental income, or creating an ultra-private multi-suite compound lifestyle.Step outside to majestic western and mountain views of San Jacinto from both the front courtyard and resort-style backyard. The property is fully walled and gated with a remote-controlled entry gate for vehicles, offering the privacy and exclusivity of a traditional estate.Enjoy a sun-drenched pool + spa, expansive luxury resort deck, tranquil ambiance, and dramatic California sunsets that illuminate the mountains with gold. Get grounded in nature, living amongst the Palm Trees and natural landscape. Whether you're seeking a primary residence, vacation retreat, or income-producing investment, this property qualifies for a short-term rental permit through the City of Palm Springs, making it a premium opportunity to own an asset that can help fund your future vacations while building equity.Live the Palm Springs estate lifestyle in the desert's most sought-after, non-gated, no-HOA luxury neighborhood--where privacy, design, and location converge into something extraordinary.Compound Estate ✔ No HOA ✔ Walk to Downtown ✔ Casitas ✔ Pool & Spa ✔ STR Permit Eligibility
No exterior & parking available.
Grades K-5 • 0.6 mi
Grades 6-8 • 0.7 mi
Grades 9-12 • 2.3 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 4.0 | 3.0 | 71% |
| Baths | 4.0 | 2.0 | 73% |
| Square foot | 3,433 | 1,912 | 93% |
| Lot Size | 15,682 | 9,583 | 91% |
| Price | $3.30M | $875.0K | 96% |
| Price per sq ft | $961 | $485 | 94% |
| Built year | 1977 | 1986 | 37% |
| HOA | $0 | $0 | 50% |
| Days on market | 3 | 185 | 0% |
Apr 20, 2026
$3,300,000
Initial Listing
Apr 2, 2024
$2,500,000
Public Record
Sep 18, 2009
$800,000
Public Record
Oct 27, 2000
$860,000
Public Record
Apr 24, 1997
$550,000
Public Record
Jul 22, 1996
$350,000
Public Record