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353 N Hermosa Drive 7c1, Palm Springs, California 92262, Palm Springs, 92262 - 1 bed, 1 bath

353 N Hermosa Drive 7c1, Palm Springs, California 92262 home-pic-0
ACTIVE$279,000
353 N Hermosa Drive 7c1, Palm Springs, California 92262
1Bed
1Bath
633Sqft
Lot

Price Vs. Estimate

Estimation data not available

Key pros and cons

Top Pros:
Prime Location & Accessibility: Located in the vibrant heart of Palm Springs, offering unparalleled convenience to downtown, the convention center, dining, shopping, and entertainment.
Top Cons:
Land Lease Structure: The property is subject to a monthly land lease ($207.21/month through 2067), which can impact financing options, long-term appreciation, and overall ownership costs.

Compared to the nearby listings

Price:$279.0K vs avg $337.0K ($-58,000)34%
Size:633 sqft vs avg 1,068 sqft23%
Price/sqft:$441 vs avg $34881%

More Insights

Built in 1984 (41 years old).
Condition: The property, built in 1984, has undergone significant renovations, particularly in the kitchen and bathroom. The kitchen features stainless steel appliances and updated countertops, while the bathroom boasts a custom travertine shower, porcelain walls, and a modern vessel sink. Tile flooring throughout the unit provides a cohesive and updated look. These upgrades, while not brand new (likely 5-15 years old based on style and condition), make the property move-in ready with no immediate renovations required, aligning perfectly with the 'Good' condition criteria.
Year Built
1984
Close
-
List price
$279K
Original List price
$315K
Price/Sqft
$441
HOA
$340
Days on market
-
Sold On
-
MLS number
PW25111026
Home ConditionGood
Features
Good View: Mountain(s), Pool
Patio
ViewMountain(s), Pool

About this home

Welcome to Casa Verde, a private gated condominium community located in the vibrant heart of Palm Springs! This upgraded lower-floor unit offers comfort, style, and unbeatable convenience—just minutes from downtown, the convention center, restaurants, shops, and entertainment. Inside, you'll find tile flooring throughout, a remodeled kitchen with stainless steel appliances, a double sink, and a full-size stacked washer and dryer. The bathroom features a custom travertine shower floor & porcelain walls. The unit is being sold fully furnished, including dinnerware, bedding, and household essentials—just bring your clothes and groceries and start enjoying the Palm Springs lifestyle. With an average annual rental income of approximately $26,000 and a 30-day minimum rental period per HOA rules, this property is ideal as a vacation home or income-generating rental. Casa Verde offers resort-style amenities including two pools and spas, two tennis courts, a putting green, and an assigned covered carport space. Monthly HOA dues are $340, and the land lease is $207.21/month (renewed through 2067). Don’t miss this fantastic opportunity to own in one of Palm Springs’ most desirable communities!

Nearby schools

7/10
Katherine Finchy Elementary School
Public,•K-5•0.7mi
4/10
Raymond Cree Middle School
Public,•6-8•1.2mi
6/10
Palm Springs High School
Public,•9-12•1.0mi
4/10
Desert Learning Academy
Public,•K-12•1.1mi
Condition Rating
Good
The property, built in 1984, has undergone significant renovations, particularly in the kitchen and bathroom. The kitchen features stainless steel appliances and updated countertops, while the bathroom boasts a custom travertine shower, porcelain walls, and a modern vessel sink. Tile flooring throughout the unit provides a cohesive and updated look. These upgrades, while not brand new (likely 5-15 years old based on style and condition), make the property move-in ready with no immediate renovations required, aligning perfectly with the 'Good' condition criteria.
Pros & Cons

Pros

Prime Location & Accessibility: Located in the vibrant heart of Palm Springs, offering unparalleled convenience to downtown, the convention center, dining, shopping, and entertainment.
Turnkey & Modernized Interior: The unit is fully furnished and features significant upgrades including a remodeled kitchen with stainless steel appliances and a custom travertine bathroom, allowing for immediate occupancy or rental.
Proven Income-Generating Asset: With an average annual rental income of approximately $26,000, this property presents a strong opportunity for investors seeking a vacation home with established income potential.
Comprehensive Resort Amenities: The Casa Verde community provides desirable resort-style amenities such as two pools, spas, tennis courts, and a putting green, enhancing lifestyle and rental appeal.
Recent Price Adjustment: A significant price reduction from $315,000 to $279,000 indicates increased value and a motivated seller, making it a more attractive investment.

Cons

Land Lease Structure: The property is subject to a monthly land lease ($207.21/month through 2067), which can impact financing options, long-term appreciation, and overall ownership costs.
Rental Period Restrictions: HOA rules mandate a 30-day minimum rental period, limiting flexibility for shorter-term vacation rentals and potentially affecting peak season income compared to properties with no such restrictions.
Compact Size & Age: At 633 sqft with 1 bed/1 bath, and built in 1984, the unit's smaller footprint and the building's age may not appeal to buyers seeking larger living spaces or newer construction, despite interior upgrades.

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