502 E Molino Road, Palm Springs, California 92262, Palm Springs, 92262 - 3 bed, 2 bath
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Palm Springs, California 92262
This Turnkey Single Family Residence represents a High-Potential Investment Opportunity, listed at $1,049,000—positioned well below the $1,090,221 Fair Market Value by 3%. This valuation gap provides $41,221 in Instant Equity. Featuring a Condition Rating of 3, the home includes a chef's kitchen, private pool, and indoor movie theater. Located in the historic Racquet Club, this STVR-ready asset is ideal for Buy-and-Hold Investors or Owner-Occupants seeking a luxury desert sanctuary with immediate income potential.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 502 E Molino Road Subject | $1,049,000* List Price | 3 | 2 | 1,816 | $600 | - |
A 505 E Molino Road Sold | $875,000 | 3 | 2 | 1,864 | $469 | 0.0 mi |
B 2555 N Junipero Avenue Sold | $1,185,000 | 3 | 3 | 2,107 | $562 | 0.8 mi |
C 444 E Glen Circle Sold | $975,000 | 3 | 2 | 1,381 | $706 | 0.5 mi |
D 805 E Garden Road Sold | $1,060,000 | 3 | 2 | 1,557 | $681 | 0.5 mi |
E 2336 N Girasol Avenue Sold | $1,275,000 | 4 | 2 | 1,760 | $724 | 0.9 mi |
F 400 W Via Escuela Sold | $1,005,000 | 3 | 2 | 1,697 | $592 | 0.9 mi |
G 3152 N Starr Active | $1,197,000 List Price | 3 | 3 | 1,627 | $736 | 0.1 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
While built in 1963, the property has undergone a comprehensive renovation likely within the last 10-15 years. The kitchen features granite countertops and stainless steel appliances, and the overall interior is in turnkey, well-maintained condition with updated flooring and recessed lighting, making it move-in ready.
The property features an expansive private pool, Tiki Palapa bar, and fire pit set against stunning mountain views, creating a premier desert oasis for relaxation and entertaining.
Offered turnkey furnished and STVR-ready, this home provides immediate income potential for investors or a seamless transition for those seeking a vacation escape.
A rare indoor movie theater with stadium seating offers a high-end entertainment experience that distinguishes this residence from typical homes in the historic Racquet Club neighborhood.
Built in 1963, the property may require ongoing maintenance or modernization of older mechanical and structural systems common in mid-century desert homes.
At over $1M, the listing is priced at the higher end for the Racquet Club East area, which may limit the buyer pool to those specifically seeking a luxury resort niche.
Welcome to your Private Palm Springs Tropical Resort! This Turnkey Furnished 3-bed, 2-bath home in the historic Racquet Club neighborhood offers the perfect blend of privacy and resort-style living. With over 1,800 sq. ft., this stunning residence features an indoor movie theater with stadium seating, ideal for ultimate entertainment. Step outside to your backyard oasis, complete with an expansive private pool, Tiki Palapa bar, fire pit, and breathtaking Mountain Views. The chef's kitchen boasts granite countertops, an island, stainless steel appliances, and a double-door fridge. The primary suite offers direct pool access--perfect for a late-night swim under the stars. Additional highlights include an interior laundry room, attached 2-car garage, and front courtyard patio. Whether you're seeking a full-time residence, vacation escape, or an investment property, this home is STVR/seasonal rental-ready for immediate income potential. Enjoy proximity to shopping, dining, downtown Palm Springs, and easy I-10 access. Your desert paradise awaits!
No exterior & parking available.
Grades K-5 • 0.3 mi
Grades 6-8 • 1.0 mi
Grades 9-12 • 3.1 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 3.0 | 50% |
| Baths | 2.0 | 3.0 | 48% |
| Square foot | 1,816 | 1,939.5 | 41% |
| Lot Size | 10,019 | 9,583 | 52% |
| Price | $1.05M | $890.0K | 60% |
| Price per sq ft | $578 | $488 | 66% |
| Built year | 1963 | 1986 | 28% |
| HOA | $0 | $0 | 50% |
| Days on market | 6 | 180 | 1% |
Jun 1, 2026
$1,049,000
Initial Listing
Nov 30, 2021
$969,000
Public Record
Oct 13, 2016
$575,000
Public Record
Jul 31, 1997
$65,000
Public Record