481 N Hermosa Drive, Palm Springs, California 92262, Palm Springs, 92262 - 2 bed, 2 bath
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Palm Springs, California 92262
This Renovated Palm Springs Condo is a Strong Value Opportunity, listed at $479,000—positioned well below the $513,366 Fair Market Value by 6%. This valuation gap offers $34,366 in Instant Equity for a property in Mint Condition. The home features a Private Courtyard with Mountain Views and is located near Katherine Finchy Elementary School. This is an ideal opportunity for Owner-Occupants seeking a turnkey desert lifestyle or Buy-and-Hold Investors targeting the high-demand downtown corridor.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 481 N Hermosa Drive Subject | $449,000* List Price | 2 | 2 | 1,194 | $401 | - |
A 468 N Greenhouse Way Sold | $520,000 | 2 | 3 | 1,194 | $436 | 0.1 mi |
B 1115 E Alejo Road Sold | $475,000 | 2 | 2 | 1,221 | $389 | 0.1 mi |
C 1874 E Sandalwood Drive Sold | $525,000 | 3 | 2 | 1,248 | $421 | 1.0 mi |
D 1249 Trofeo Circle Sold | $550,000 | 2 | 2 | 1,252 | $439 | 0.8 mi |
E 1334 Tiffany Circle S Sold | $553,000 | 2 | 2 | 1,251 | $442 | 0.8 mi |
F 1861 Paseo Pelota Sold | $460,000 | 2 | 2 | 1,252 | $367 | 0.7 mi |
G 1103 E Alejo Road Active | $539,000 List Price | 2 | 2 | 1,221 | $441 | 0.1 mi |
* Subject property listed price vs sold prices of comps.
Property is new construction or fully renovated.
Despite being built in 1974, the property has undergone a recent comprehensive renovation (within <5 years) including all-new electrical systems, fresh interior/exterior paint, and modern lighting. The bathrooms feature updated subway tile, and the kitchen is clean and functional with refreshed cabinetry. The home is in mint, move-in ready condition with significant system upgrades.
Located less than a mile from downtown Palm Springs, this property offers exceptional walkability and bikeability to the city's premier dining, shopping, and nightlife.
The unique private courtyard features Saltillo tile, mountain views, and a rare direct-access street gate, providing a seamless indoor-outdoor desert lifestyle that is uncommon in many condo developments.
The home boasts significant functional and aesthetic upgrades, including all-new electrical, modern lighting, and fresh interior/exterior paint, ensuring a move-in-ready experience for the buyer.
The $630 monthly association fee is a substantial recurring expense that may impact the overall affordability and debt-to-income ratio for potential buyers.
Built in 1974, the property and its common areas may require ongoing attention to aging infrastructure typical of mid-century condominium developments.
Live the quintessential Palm Springs lifestyle in this beautiful 2 bed, 2 bath condo just under a mile from downtown--perfect for walking or biking to shops, dining, and nightlife.The heart of the home is a stunning private courtyard with Saltillo tile that flows seamlessly indoors, creating that true desert indoor-outdoor vibe. Picture morning coffee by the fountain, evenings with mountain views, and effortless entertaining with French doors from each bedroom opening right into your private oasis.The home has been freshly painted inside and out, with all-new electrical, newer TRANE AC system, modern lighting, and ceiling fans throughout. The courtyard has been refreshed and enhanced with a new metal entry gate that provides direct street access--something few units in the community offer. Even better, your assigned carport space is conveniently located right outside your private courtyard entrance.Resort-style amenities include two pools, a spa, tennis courts, lush greenbelts, and a peaceful covered lounge area--all surrounded by breathtaking mountain views. Don't let this incredible opportunity pass you by. Schedule your appointment to see this home today!
No exterior & parking available.
Grades K-5 • 0.6 mi
Grades 6-8 • 1.1 mi
Grades 9-12 • 1.1 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 2.0 | 2.0 | 50% |
| Baths | 2.0 | 2.0 | 50% |
| Square foot | 1,194 | 1,139 | 56% |
| Lot Size | 2,178 | 436 | 86% |
| Price | $449.0K | $362.0K | 61% |
| Price per sq ft | $376 | $345 | 58% |
| Built year | 1974 | 1981 | 19% |
| HOA | $630.0 | $550 | 70% |
| Days on market | 38 | 160 | 2% |
May 29, 2026
$449,000
$479,000
-6% Price Drop
Initial Listing
Apr 30, 2026
$479,000
Initial Listing