
Cathedral City, California 92234
This Fee Simple Value-Add Asset represents a strategic opportunity for buyers targeting the Cathedral City market. Listed at $199,999 with a $124,862 Fair Market Value, this 1-bedroom unit is a blank slate with a Condition Rating of 5, requiring a full cosmetic rehab to unlock its potential ROI. A primary advantage is the Fee Simple Land Ownership, which eliminates land lease risks common in the Coachella Valley. The upstairs unit features dual balconies with mountain and pool views and is located within the Palm Springs Unified district. This acquisition is ideal for Buy-and-Hold Investors or Contractors.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 32505 Candlewood Drive 12 Subject | $199,999* List Price | 1 | 1 | 772 | $162 | - |
A 32200 Cathedral Canyon Drive 89 Sold | $175,000 | 1 | 1 | 745 | $235 | 0.5 mi |
B 31200 Landau Boulevard 104 Sold | $220,000 | 2 | 2 | 906 | $243 | 0.5 mi |
C 32505 Candlewood Drive 27 Active | $229,900 List Price | 2 | 2 | 848 | $271 | 0.0 mi |
* Subject property listed price vs sold prices of comps.
Property is extensive renovation needed.
The property is 39 years old (built 1985) and remains in original condition with no significant renovations. While the HVAC and water heater are reported as functional, the kitchen and bathroom are severely dated with original cabinetry and appliances. The listing explicitly describes the unit as a 'blank slate' priced for condition, indicating a need for a full cosmetic rehab.
Unlike many properties in the Coachella Valley situated on leased land, this unit offers fee simple ownership, eliminating lease expiration risks and simplifying future resale and financing.
The upstairs positioning provides two private outdoor spaces featuring desirable western mountain views and tranquil pool/greenbelt vistas, enhancing the unit's airy feel and natural light.
Marketed as a 'blank slate' with functioning mechanicals and a new water heater, this property allows an investor to build immediate equity through custom cosmetic renovations without the cost of undoing previous updates.
The property requires a full cosmetic overhaul, which necessitates additional upfront capital and the management of contractors before it is move-in or rental ready.
At 772 square feet with only one bedroom, the unit's compact footprint may limit its appeal to a smaller demographic of buyers or long-term tenants.
Priced to reflect condition, this 1 bed/1 bath upstairs unit in gated Candlewood Villas I is a genuine blank slate in the heart of Cathedral City. For the investor or the buyer who wants to finish a desert retreat exactly their way, this is the one. Fee simple land ownership means no land lease, no lease expiration risk, and no added layer of complexity at resale. You own the dirt. That distinction matters in this market, Being upstairs, the unit benefits from natural light throughout the day and the kind of open, airy feel that ground floor units rarely deliver. Two private balconies extend the living space outdoors: the front balcony faces west with open mountain views, and the rear balcony looks out over the pool and greenbelt. Morning coffee with the mountains, evenings by the pool. Whether this becomes a personal escape or a rental investment, those views are a genuine asset.Mechanically, the unit is in working order. A new water heater has been installed. The HVAC is functioning well. The refrigerator, stovetop, and in-unit washer and dryer all convey with the property in working condition. The cosmetic work is yours to scope and direct. There are no recent updates to undo or work around. Bring your contractor, bring your designer, and build the value you want.HOA dues are $430 per month and cover community pool and spa, gated access, sewer, and trash. The complex is well-maintained and the amenities are consistently available to residents and their guests.Situated mid-valley, Cathedral City puts you equidistant from the energy of downtown Palm Springs to the west and the dining and shopping along Highway 111 to the east. Everything the desert lifestyle offers is within easy reach, and this address keeps you close to it all without the Palm Springs price tag.
No exterior & parking available.
Grades K-5 • 1.1 mi
Grades 6-8 • 1.9 mi
Grades 9-12 • 1.4 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 1.0 | 2.0 | 10% |
| Baths | 1.0 | 2.0 | 3% |
| Square foot | 772 | 1,212 | 3% |
| Lot Size | - | 1,307 | 19% |
| Price | $200.0K | $289.0K | 3% |
| Price per sq ft | $259 | $239 | 72% |
| Built year | 1985 | 1985 | 50% |
| HOA | $430.0 | $575 | 12% |
| Days on market | 3 | 180 | 1% |
Apr 20, 2026
$199,999
Initial Listing
Apr 19, 2026
$199,000
Initial Listing