255 S Avenida Caballeros 111, Palm Springs, California 92262, Palm Springs, 92262 - 2 bed, 2 bath
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Palm Springs, California 92262
This Modernist Architectural Condominium represents a High-Potential Investment Opportunity, listed at $295,000—positioned well below the $337,331 Fair Market Value by 12%. This significant valuation gap provides $42,331 in Instant Equity. Boasting a Good Condition Rating, the unit features a modernized kitchen, upgraded bathrooms, and iconic Mountain Views. Designed by Hugh M. Kaptur and located near Palm Springs High School, this resort-style residence offers a turnkey lifestyle with pool and tennis access. It is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 255 S Avenida Caballeros 111 Subject | $295,000* List Price | 2 | 2 | 1,096 | $308 | - |
A 255 S Avenida Caballeros 306 Sold | $302,000 | 2 | 2 | 1,046 | $289 | 0.1 mi |
B 280 S Avenida Caballeros 223 Sold | $300,000 | 2 | 2 | 1,082 | $277 | 0.1 mi |
C 280 S Avenida Caballeros 116 Sold | $339,000 | 2 | 2 | 996 | $340 | 0.1 mi |
D 222 N Calle El Segundo 576 Sold | $375,000 | 2 | 2 | 1,139 | $329 | 0.3 mi |
E 1150 E Amado Road 17a1 Sold | $295,000 | 2 | 2 | 849 | $347 | 0.5 mi |
F 255 S Avenida Caballeros 302 Active Under Contract | $299,000 List Price | 2 | 2 | 1,046 | $286 | 0.1 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
While the property was built in 1989, the interior features updated kitchen countertops, modern stainless steel appliances, and upgraded bathrooms. The unit is well-maintained and move-in ready, consistent with a 5-15 year renovation cycle.
Designed by renowned architect Hugh M. Kaptur and located just blocks from downtown Palm Springs, this property offers significant architectural value and immediate access to premier dining, shopping, and entertainment.
This ground-floor end unit features an updated kitchen with new countertops and appliances, upgraded bathrooms, and a functional layout including a full-sized laundry room on the patio.
Residents enjoy a resort-style lifestyle with access to a large pool, spa, tennis and pickleball courts, racquetball, and a dog release area, all within a well-maintained, sought-after community.
The property is subject to a land lease of $305 per month through 2080, which, when combined with the $595 HOA fee, results in higher monthly carrying costs for the owner.
The 30-day minimum rental requirement limits the property's potential for high-frequency short-term vacation rental income, which may be a drawback for certain investors.
FURNISHED Ground-floor end unit in a sought-after community located a few blocks from the active downtown area. This architecturally significant complex, designed by Hugh M. Kaptur, is a strong investment. Make it your primary home or weekend getaway. Seasonal 30-day minimum rentals are also a possibility. Enjoy the large community pool and spa, racquetball court, tennis/pickleball court, meeting room, and dog release area. The unit is conventionally located near the pool and parking. The kitchen has updated countertops, appliances, and lighting. Large living room/dining area with patio access and mountain view. Both bedrooms are spacious, and the bathrooms are upgraded.The patio also has a full-sized laundry room and a pedestrian gate for easy access to your assigned carport parking spot. Take advantage of being able to quickly make your way downtown and enjoy restaurants, shopping, theatre, casino, and activities. The airport is just a few minutes away. HOA dues of $595 includes: earthquake insurance, water, sewer, and trash. Land lease runs to year 2080 at $305 a month(paid quarterly).
No exterior & parking available.
Grades K-5 • 0.9 mi
Grades 6-8 • 1.6 mi
Grades K-12 • 1.0 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 2.0 | 2.0 | 50% |
| Baths | 2.0 | 2.0 | 50% |
| Square foot | 1,096 | 1,131 | 47% |
| Lot Size | - | 436 | 45% |
| Price | $295.0K | $360.0K | 38% |
| Price per sq ft | $269 | $345 | 19% |
| Built year | 1989 | 1981 | 82% |
| HOA | $595.0 | $550 | 65% |
| Days on market | 40 | 160 | 2% |
Apr 28, 2026
$295,000
Initial Listing