29487 E Trancas Drive, Cathedral City, California 92234, Cathedral City, 92234 - 2 bed, 2 bath
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Cathedral City, California 92234
This Income-Generating Resort Condominium is listed at $399,000, compared to a $349,593 Fair Market Value. The pricing reflects the asset's unique status as a turnkey investment with a guaranteed full-time renter until July 2027 and a land lease extended to 2069, providing long-term financial security. Boasting a Good Condition Rating, the interior features a renovated kitchen and stylish tile flooring with breathtaking mountain and golf course views. Located near Landau Elementary, the property offers access to 34 community pools and PGA golf. This is a strategic acquisition for Buy-and-Hold Investors or Patient Future Owner-Occupants.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 29487 E Trancas Drive Subject | $399,000* List Price | 2 | 2 | 1,425 | $245 | - |
A 29221 E Portales Drive Sold | $290,000 | 2 | 2 | 1,212 | $239 | 0.2 mi |
B 31200 Landau Boulevard 2501 Sold | $295,000 | 2 | 2 | 1,160 | $254 | 0.9 mi |
C 67278 S Chimayo Drive Sold | $280,000 | 2 | 2 | 1,212 | $231 | 0.8 mi |
D 28764 Taos Court Sold | $310,000 | 2 | 2 | 1,177 | $263 | 0.4 mi |
E 28923 Isleta Court Active | $345,000 List Price | 3 | 2 | 1,285 | $268 | 0.3 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
Built in 1990, this property has undergone significant and stylish updates, particularly in the kitchen and bathroom. The kitchen features modern white shaker-style cabinets, stainless steel appliances (refrigerator, gas range, range hood), and clean countertops. The bathroom is impressively renovated with a modern floating vanity, vessel sink, glass-enclosed shower with textured subway tiles and a pebble floor, and contemporary fixtures. Wood-look flooring is consistent throughout the main living areas, and modern light fixtures are present. While the property is over 30 years old, these key renovations, along with the overall well-maintained appearance, make it move-in ready with no immediate renovation required, aligning well with the 'Good' condition criteria for properties extensively renovated within the last 5 to 15 years.
The property is an income-generating asset with a full-time renter secured until July 2027, providing immediate and stable cash flow for investors.
Enjoy breathtaking views of majestic mountains and the serene Vista 2 fairway directly from the back patio, enhancing the property's appeal and lifestyle.
Part of Desert Princess, offering access to a 27-hole PGA Championship golf course (no tee-time lotteries or initiation fees), on-site restaurant, wellness spa, 34 community pools/spas, and 24-hour guard gate security.
The property is tenant-occupied until July 2027, meaning a new owner cannot take immediate personal possession or undertake renovations until the lease expires.
Operating under a land lease, which, despite its extension, may be a consideration for buyers preferring fee simple ownership and could potentially influence financing options or long-term appreciation perceptions.
Built in 1990, the property is over three decades old. While the kitchen is noted for storage, other areas or systems may require updates or maintenance in the near future to meet modern standards or prevent age-related issues.
INCOME PROPERTY! Experience the breathtaking views from your back patio that overlook the majestic mountains and the serene Vista 2 fairway! This stunning property offers a fantastic open floorplan, perfect for entertaining or relaxing, with a beautiful kitchen boasting tons of storage. Enjoy the luxury of tile in the main areas of your home, making it as stylish as it is functional. This home has a full time renter until July 2027. This is an income generating property!. 2 car attached garage. Whole house humidifier. Land lease extended to 2069, a $20,000 savings! Monthly ground rent is $178.06.HOA fees include High Speed Internet, (2) DVR cable boxes, outside water, 24 hours guard gate and more! The Desert Princess has an affordable 27-hole PGA Championship golf course, no Tee-time lotteries, no initiation fees, rated among the best in the valley by GOLF DIGEST. This quiet community is away from the noise yet minutes from everything that is in Palm Springs; restaurants, shopping, casinos, an international airport, the Tramway, Art Museum, Theaters, and the Street Fair. 27 Holes of Championship Golf. Restaurant on site. Pamper yourself at our Wellness Spa, on site. Boasting 34 Community Pools and Spas-Make this your new address!
No exterior & parking available.
Grades K-5 • 0.4 mi
Grades K-5 • 1.1 mi
Grades K-5 • 1.2 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 | 1,425 | 1,212 | 78% |
| Lot Size | 6,534 | 1,307 | 97% |
| Price | $399.0K | $289.5K | 88% |
| Price per sq ft | $280 | $239 | 84% |
| Built year | 1990 | 1985 | 90% |
| HOA | $995.0 | $575 | 79% |
| Days on market | 129 | 179 | 21% |
Dec 15, 2025
$399,000
Initial Listing