40621 Terraza, Palm Desert, California 92260, Palm Desert, 92260 - 5 bed, 4 bath
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Palm Desert, California 92260
This Spacious Single Family Residence is a Strong Value Opportunity, listed at $699,000—positioned well below the $674,901 Fair Market Value by -3%. While the property maintains a Condition Rating of 4, it offers significant potential for cosmetic modernization to build long-term value. Situated in the Palm Springs Unified district near top-rated schools like James Earl Carter Elementary, this home provides a rare 5-bedroom layout ideal for large families. This is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking a value-add project in a prime location.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 40621 Terraza Subject | $699,000* List Price | 5 | 4 | 2,718 | $248 | - |
A 40603 Via Fonda Sold | $800,000 | 4 | 3 | 2,430 | $329 | 0.2 mi |
B 40622 Cabana Court Sold | $640,000 | 4 | 3 | 2,300 | $278 | 0.1 mi |
C 40747 Palm Court Sold | $775,000 | 3 | 3 | 2,727 | $284 | 0.2 mi |
D 40761 Hovley Court Sold | $700,000 | 3 | 2 | 2,416 | $290 | 0.4 mi |
E 40530 Glenwood Lane Sold | $650,000 | 3 | 3 | 2,052 | $317 | 0.4 mi |
F 40650 Cabana Court Active | $775,000 List Price | 3 | 3 | 2,430 | $319 | 0.1 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1999 (27 years old), the property is dated with original honey oak cabinetry and older white appliances in the kitchen. While some flooring has been updated, one bathroom shows visible drywall patching and unfinished repairs, indicating a need for minor maintenance and cosmetic modernization.
Featuring 5 bedrooms and 4 bathrooms within 2,718 square feet, this property offers a rare and generous configuration ideal for large families or multi-generational living.
The home is situated near top-tier educational institutions, including James Earl Carter Elementary with a rating of 8, significantly boosting its appeal to families and long-term resale value.
Listed at $699,000, the property provides a competitive price-per-square-foot for a detached single-family residence in the sought-after Palm Desert market.
The property is listed with no specific views, which may be a drawback for buyers seeking the iconic mountain or golf course vistas common in the Coachella Valley.
Built in 1999, the residence is approaching 25 years of age and may require updates to its interior finishes and mechanical systems to meet contemporary luxury standards.
Welcome to 40621 Terraza, an exceptional desert retreat offering the perfect blend of privacy and resort-style living in the heart of Palm Desert. This expansive residence features approximately 2,718 square feet of living space with 5 bedrooms and 3.5 bathrooms, thoughtfully designed for everyday comfort and entertaining. Upon arrival, you are greeted by an inviting courtyard entrance that sets the tone for the peaceful atmosphere found throughout the home. Inside, generous living spaces are enhanced by soaring ceilings, abundant natural light, and a functional open-concept floor plan. The backyard is truly an entertainer's dream, offering a private resort-style setting complete with a sparkling pool, relaxing jacuzzi, and impressive in-ground BBQ area, creating the perfect atmosphere for sunny pool days and evening gatherings. Surrounded by breathtaking mountain views, this outdoor oasis feels like your own private vacation destination. Adding to the home's versatility is a private primary suite featuring its own separate entrance through the entry courtyard, ideal for multigenerational living or a private retreat. The property also offers a spacious three-car garage and extended driveway, providing ample room for multiple vehicles, guests, or recreational toys. Situated in one of Palm Desert's most desirable locations, residents enjoy convenient access to the renowned El Paseo Shopping District, often referred to as the "Rodeo Drive of the Desert," featuring luxury shopping, fine dining, art galleries, and vibrant nightlife. Nearby attractions include The Living Desert Zoo and Gardens, premier golf courses, trails, and Palm Desert Civic Center Park. Palm Desert and the greater Coachella Valley continue to experience significant growth and revitalization. One of the most exciting developments nearby is Cotino, the first-ever Storyliving by Disney community in neighboring Rancho Mirage. This highly anticipated master-planned community will feature luxury residences centered around a crystal lagoon, along with new dining, shopping, entertainment, and recreational experiences expected to further elevate the desirability of the surrounding desert communities. Whether you are searching for a primary residence, vacation home, or investment opportunity, 40621 Terraza presents a rare opportunity to own a slice of desert paradise near one of Southern California's most exciting emerging luxury destinations.
No exterior & parking available.
Grades K-5 • 0.8 mi
Grades 9-12 • 2.0 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 5.0 | 3.0 |
| Baths | 4.0 | 3.0 |
| Square foot | 2,718 | 2,040 |
| Lot Size | 6,970 | 7,405 |
| Price | $699.0K | $634.5K |
| Price per sq ft | $257 | $325 |
| Built year | 1999 | 1994 |
| HOA | $0 | $398 |
| Days on market | 23 | 74 |
Jun 30, 2026
$699,000
Initial Listing
Dec 19, 2011
$315,000
Public Record
Sep 3, 2004
$549,000
Public Record
Aug 26, 2002
$315,000
Public Record
Aug 9, 2000
$295,000
Public Record
Jul 27, 1999
$285,500
Public Record