3140 E Vista Chino, Palm Springs, California 92262, Palm Springs, 92262 - 3 bed, 3 bath
ACTIVE$830,000
3140 E Vista Chino, Palm Springs, California 92262
3Beds
3Baths
1,767Sqft
9,583Lot
Price Vs. Estimate
The estimated value ($572,488.285) is $257,511.715 (31%) lower than the list price ($830,000). This property may be overpriced.
Key pros and cons
Top Pros:
High Available Lot Utilization: The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 9583, living area = 1767.
Top Cons:
Significant Price Discrepancy: The list price of $830,000 is substantially higher than the estimated property value of $572,488, indicating a premium for the RCFE business that may not align with traditional real estate valuations and could deter some buyers.
Compared to the nearby listings
Price:$830.0K vs avg $925.0K ($-95,000)38%
Size:1,767 sqft vs avg 2,096 sqft38%
Price/sqft:$470 vs avg $49043%
More Insights
Built in 1991 (34 years old).
Condition: The property was built in 1991, making it 33 years old. While the description highlights 'well-maintained' and 'meticulous upkeep' due to its operation as an RCFE, there is no mention of recent extensive renovations to key areas like the kitchen or bathrooms. The single exterior image shows a functional, cared-for property, but provides no insight into interior conditions or modern updates. Given its age and the absence of specific recent renovation details, the property likely requires minor updates to bring its interior style and features up to current standards, aligning with the 'Fair' category.
Year Built
1991
Close
-
List price
$830K
Original List price
$830K
Price/Sqft
$470
HOA
-
Days on market
-
Sold On
-
MLS number
OC25111015
Home ConditionFair
Features
View-
About this home
This well-maintained property has successfully operated as a Residential Care Facility for the Elderly (RCFE) for over a decade. Licensed to accommodate up to six residents, the facility includes a waiver for 6 bedridden resident and supports up to 6 hospice patients. Additionally, it holds a dementia care waiver, enabling specialized attention for residents with memory care needs. The facility's meticulous upkeep underscores its dedication to excellence in resident care and satisfaction. This property presents an excellent opportunity for investors interested in the senior care industry or for seasoned operators looking to expand. Buyers have the option to purchase this facility individually or as part of a package with two additional facilities.
Nearby schools
7/10
Katherine Finchy Elementary School
Public,•K-5•1.6mi
6/10
Vista Del Monte Elementary School
Public,•K-5•1.8mi
4/10
Raymond Cree Middle School
Public,•6-8•1.4mi
6/10
Palm Springs High School
Public,•9-12•1.8mi
4/10
Desert Learning Academy
Public,•K-12•2.1mi
6/10
Cathedral City High School
Public,•9-12•4.5mi
Condition Rating
Fair
The property was built in 1991, making it 33 years old. While the description highlights 'well-maintained' and 'meticulous upkeep' due to its operation as an RCFE, there is no mention of recent extensive renovations to key areas like the kitchen or bathrooms. The single exterior image shows a functional, cared-for property, but provides no insight into interior conditions or modern updates. Given its age and the absence of specific recent renovation details, the property likely requires minor updates to bring its interior style and features up to current standards, aligning with the 'Fair' category.
Pros & Cons
Pros
High Available Lot Utilization: The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 9583, living area = 1767.
Established Business Operation: The property has a proven track record, successfully operating as a Residential Care Facility for the Elderly (RCFE) for over a decade, indicating a stable and established business.
Comprehensive Licensing: The facility holds extensive licensing, including waivers for 6 bedridden residents, 6 hospice patients, and dementia care, allowing for a broad and high-demand client base.
Meticulous Upkeep: The description emphasizes 'meticulous upkeep,' suggesting the property is well-maintained, which is crucial for a care facility and minimizes immediate capital expenditures for a new owner.
Targeted Investment Opportunity: This property is explicitly positioned as an excellent opportunity for investors in the senior care industry or seasoned operators, tapping into a growing and specialized market segment.
Scalability Potential: The option to purchase this facility individually or as part of a package with two additional facilities offers significant scalability for investors looking to expand their senior care portfolio.
Cons
Significant Price Discrepancy: The list price of $830,000 is substantially higher than the estimated property value of $572,488, indicating a premium for the RCFE business that may not align with traditional real estate valuations and could deter some buyers.
Niche Buyer Pool: The specialized use as an RCFE significantly limits the potential buyer pool to individuals or entities with specific qualifications and interest in operating a care facility, potentially leading to a longer time on market.
Operational Complexity: Acquiring and operating an RCFE involves navigating specific licensing, regulatory compliance, and operational expertise, which can be a barrier for many general real estate investors or traditional home buyers.