500 E Amado Road 706, Palm Springs, California 92262, Palm Springs, 92262 - 2 bed, 2 bath
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Palm Springs, California 92262
This property presents a Strong Value Opportunity with a List Price of $499,000—positioned well below the $471,539 Fair Market Value by -5%. Featuring a Fair Condition Rating, this unit offers significant potential for cosmetic modernization. The property boasts 14-day rental approval, underground parking, and panoramic mountain views, making it a high-demand asset. Its prime location near the Convention Center and downtown ensures consistent appeal. This is an ideal acquisition for Buy-and-Hold Investors or seasonal residents seeking a value-add property in Palm Springs.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 500 E Amado Road 706 Subject | $475,000* List Price | 2 | 2 | 1,259 | $369 | - |
A 500 E Amado Road 519 Sold | $472,500 | 2 | 2 | 1,003 | $471 | 0.0 mi |
B 605 E Amado Road 610 Sold | $405,000 | 2 | 2 | 1,147 | $353 | 0.1 mi |
C 222 N Calle El Segundo 543 Sold | $375,000 | 2 | 2 | 944 | $397 | 0.2 mi |
D 1456 Tiffany Circle N Sold | $430,000 | 2 | 2 | 1,251 | $344 | 0.8 mi |
E 222 N Calle El Segundo 576 Sold | $375,000 | 2 | 2 | 1,139 | $329 | 0.2 mi |
F 1294 Tiffany Circle N Sold | $599,000 | 2 | 2 | 1,251 | $479 | 0.7 mi |
G 500 E Amado Road E 512 Active | $519,000 List Price | 2 | 2 | 1,259 | $412 | 0.0 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1986 (38 years old), the property is in dated but functional condition. The kitchen and bathrooms feature original-style white cabinetry, tile countertops with grout lines, and older white appliances. While the unit appears well-maintained and move-in ready, it exceeds the 20-year threshold for modern updates and requires cosmetic renovations to meet current market standards.
Situated in the heart of Palm Springs, the property is within walking distance to the Convention Center, Casino, and downtown dining, offering exceptional convenience and lifestyle appeal.
The HOA's 14-day rental approval makes this an ideal investment for seasonal or short-term rental income, a highly sought-after feature in the Palm Springs market.
The inclusion of underground parking is a significant premium in the desert, protecting vehicles from extreme heat and sun damage while providing added security.
At $570 per month, the association fees are a significant recurring expense that may impact the overall affordability and debt-to-income ratio for potential buyers.
Built in 1986, the property may require modernization of interior finishes or mechanical systems to compete with newer luxury developments in the area.
DEAUVILLE of Palm Springs! Walking distance to Convention Center, Casino, Downtown, restaurants and more. Great community to live full time or rent out seasonal. 14-day rentals are approved by the HOA. Water, Cable included in HOA fee. Underground parking keeps your car cool and out of the sun. Lots of gated guest parking also! Priced to sell.
No exterior & parking available.
Grades K-5 • 0.7 mi
Grades 6-8 • 1.2 mi
Grades K-12 • 1.4 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 | 1,259 | 1,139 | 70% |
| Lot Size | 2,178 | 436 | 86% |
| Price | $475.0K | $362.0K | 64% |
| Price per sq ft | $377 | $345 | 59% |
| Built year | 1986 | 1981 | 79% |
| HOA | $570.0 | $550 | 56% |
| Days on market | 27 | 160 | 1% |
May 31, 2026
$475,000
$499,000
-5% Price Drop
Initial Listing
May 11, 2026
$499,000
Initial Listing