
Cathedral City, California 92234
This High-Potential Investment Opportunity is listed at $210,000, positioned well below the $210,683 Fair Market Value by 0.32%. Featuring a Good Condition Rating, this 1-bed, 2-bath condo offers a rare, grandfathered short-term rental permit and financing eligibility via a land lease extension. With access to a 27-hole golf course and private pool, the property provides immediate income potential. This is an ideal acquisition for Buy-and-Hold Investors or second-home buyers seeking a turnkey, income-generating asset in the Coachella Valley.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 28268 Desert Princess Subject | $210,000* List Price | 1 | 2 | 851 | $248 | - |
A 28621 E Portales Drive Sold | $215,000 | 2 | 2 | 984 | $218 | 0.3 mi |
B 67268 S Chimayo Drive Sold | $215,000 | 1 | 2 | 851 | $253 | 0.4 mi |
C 67270 Cumbres Court Sold | $270,000 | 2 | 2 | 984 | $274 | 0.4 mi |
D 28640 W Natoma Drive Sold | $235,000 | 2 | 2 | 1,177 | $200 | 0.3 mi |
E 67338 W Chimayo Active | $219,000 List Price | 1 | 2 | 851 | $257 | 0.5 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
While built in 1985 (39 years old), the property has been well-maintained and partially updated within the last 10-15 years. It features modern stainless steel appliances, updated laminate flooring, and recessed lighting. The kitchen cabinetry is dated but functional, and the overall condition is move-in ready, fitting the 'Good' criteria for a well-maintained older home with partial renovations.
The property features a rare grandfathered-in short-term rental permit, allowing for stays of less than 30 days, making it a highly lucrative opportunity for investment or festival season income.
Due to a land lease extension, this unit qualifies for a 30-year mortgage, a significant advantage over neighboring units that often struggle with financing due to shorter lease durations.
Positioned as an end unit with only one common wall, the condo offers enhanced privacy, high ceilings, and is sold fully furnished with access to a 27-hole championship golf course and guarded gate security.
The association fee is $995 per month, which represents a substantial recurring expense that may impact the overall affordability and debt-to-income ratio for some buyers.
With only one bedroom and 851 square feet, the property has a narrower market appeal, potentially excluding families or buyers who require a dedicated home office.
Looking for a summer condo? Maybe a 2nd home to visit the valley throughout the year? Or maybe you're thinking of down sizing to a cute condominium to enjoy the Palm Spring lifestyle without the Palm Springs price tag taking advantage of all the amenities this community has to offer? Either way the answer is yes, yes and yes! This comfortable 1 bed 2 bath 851 sqft condominium is the perfect solution to every need. Want privacy? Its an end unit only sharing 1 common wall. Like to swim? Its a 60 second walk to a private pool with amazing views. Worried about crime when you're not around? The community is a guarded gate entrance. Like to golf? Desert Princess offers a 27 hole championship golf course. Some of the best views in the Coachella Valley. The have shops, dining, golf etc. Its a slice of the good life. The home itself, has a spacious porch, inviting living room with high ceilings and a main bedroom with its own sliding glass doors to the patio. More importantly, this unit has a grandfathered in short term rental permit allowing you to rent the property for less than 30 days. Perfect for the festival season or to use as a full time investment property. Included detached garage and the unit is offered completely furnished. The biggest benefit here is the land lease. This community has a bit of difficulty obtaining financing mainly due to the remaining duration of the lease. This unit upon it's last purchase was extended. So buyers may obtain a 30 yr mortgage making this financially a better option regarding monthly affordability.
No exterior & parking available.
Grades K-5 • 0.6 mi
Grades K-5 • 1.1 mi
Grades K-5 • 1.4 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 1.0 | 2.0 |
| Baths | 2.0 | 2.0 |
| Square foot | 851 | 1,194.5 |
| Lot Size | 871 | 1,307 |
| Price | $210.0K | $295.2K |
| Price per sq ft | $247 | $227 |
| Built year | 1985 | 1985 |
| HOA | $995.0 | $622 |
| Days on market | 30 | 98 |
Jun 22, 2026
$210,000
Initial Listing