360 W Bon Air Dr, Palm Springs, California 92262, Palm Springs, 92262 - 3 bed, 2 bath
ACTIVE$570,000
360 W Bon Air Dr, Palm Springs, California 92262
3Beds
2Baths
1,170Sqft
7,841Lot
Price Vs. Estimate
The estimated value ($570,000) is $0 (0%) lower than the list price ($570,000). This property may be overpriced.
Key pros and cons
Top Pros:
Short-Term Rental Potential: The property is explicitly stated to qualify for a short-term rental license, presenting a significant income-generating opportunity in the popular Palm Springs market.
Top Cons:
Age of Property: Built in 1962, the home's age, despite being updated, may imply older underlying infrastructure or require more long-term maintenance than newer constructions.
Compared to the nearby listings
Price:$570.0K vs avg $925.0K ($-355,000)10%
Size:1,170 sqft vs avg 2,096 sqft3%
Price/sqft:$487 vs avg $49049%
More Insights
Built in 1962 (63 years old).
Condition: Despite being built in 1962, this home has undergone significant modern updates, making it move-in ready. The kitchen features contemporary white shaker cabinets, stainless steel appliances, and modern lighting. Both bathrooms are updated with modern vanities, tiling, and fixtures. The flooring is a modern wood-look laminate, and a new water heater is being installed in January 2025. The backyard also boasts a recently updated pool area. These extensive renovations bring the property's condition to a 'good' standard, aligning with properties extensively renovated within the last 5-15 years.
Year Built
1962
Close
-
List price
$570K
Original List price
$580K
Price/Sqft
$487
HOA
-
Days on market
-
Sold On
-
MLS number
PTP2506065
Home ConditionGood
Features
Good View: Mountain(s)
Pool
Spa
Patio
ViewMountain(s)
About this home
3 bed, 2 bath updated home with a spacious front yard and backyard that includes a patio area, plants on a sprinkler system, and no land lease! New water heater installed in January 2025. Currently under the 20% cap rate with the city to qualify for short-term rental license.
Nearby schools
7/10
Katherine Finchy Elementary School
Public,•K-5•2.0mi
4/10
Cahuilla Elementary School
Public,•K-5•3.9mi
4/10
Raymond Cree Middle School
Public,•6-8•1.6mi
6/10
Palm Springs High School
Public,•9-12•3.6mi
4/10
Desert Learning Academy
Public,•K-12•3.8mi
Condition Rating
Good
Despite being built in 1962, this home has undergone significant modern updates, making it move-in ready. The kitchen features contemporary white shaker cabinets, stainless steel appliances, and modern lighting. Both bathrooms are updated with modern vanities, tiling, and fixtures. The flooring is a modern wood-look laminate, and a new water heater is being installed in January 2025. The backyard also boasts a recently updated pool area. These extensive renovations bring the property's condition to a 'good' standard, aligning with properties extensively renovated within the last 5-15 years.
Pros & Cons
Pros
Short-Term Rental Potential: The property is explicitly stated to qualify for a short-term rental license, presenting a significant income-generating opportunity in the popular Palm Springs market.
No Land Lease: A major financial advantage in Palm Springs, as the property is not subject to the common land lease agreements that can incur substantial monthly costs.
Desirable Location & Views: Located in Central Palm Springs (MLS Area 332) and boasts desirable mountain views, enhancing its appeal and potential value.
Recent Major Upgrade: A new water heater is scheduled for installation in January 2025, providing peace of mind and reducing immediate capital expenditure for the buyer.
Enhanced Outdoor Living: Features a spacious, landscaped front and backyard with a patio area and sprinkler system, ideal for relaxation and entertaining.
Cons
Age of Property: Built in 1962, the home's age, despite being updated, may imply older underlying infrastructure or require more long-term maintenance than newer constructions.
Modest Interior Size: With 1170 sqft for 3 bedrooms, the interior living space is relatively compact, which might be a consideration for buyers seeking more expansive living areas.
Recent Price Reduction: A recent price drop from $580,000 to $570,000 could indicate market resistance or suggest the property was initially overpriced.