502 E Molino Road, Palm Springs, California 92262, Palm Springs, 92262 - 0 bed, 0 bath
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Palm Springs, California 92262
This Turnkey Vacation Residence is a Strong Value Opportunity, listed at $999,500—positioned slightly above the $993,695 Fair Market Value. While priced at market, the property offers immediate income potential as an STVR-ready asset. Featuring a Condition Rating of 3, the home includes a chef's kitchen, private pool, and a unique indoor movie theater. Located in the historic Racquet Club neighborhood, this home provides a high-end desert lifestyle. It is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking a move-in ready desert retreat.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 502 E Molino Road Subject | $999,500* List Price | 0 | 0 | 1,816 | $547 | - |
A 444 E Glen Circle Sold | $975,000 | 3 | 2 | 1,381 | $706 | 0.5 mi |
B 805 E Garden Road Sold | $1,060,000 | 3 | 2 | 1,557 | $681 | 0.5 mi |
C 2481 N Cardillo Avenue Sold | $1,000,000 | 4 | 3 | 1,972 | $507 | 0.8 mi |
D 2272 N Starr Road Sold | $750,000 | 3 | 2 | 1,416 | $530 | 0.6 mi |
E 2440 N Girasol Avenue Sold | $842,000 | 3 | 2 | 1,455 | $579 | 0.9 mi |
F 400 W Via Escuela Sold | $1,005,000 | 3 | 2 | 1,697 | $592 | 0.9 mi |
G 2900 S Redwood Drive Sold | $750,000 | 3 | 2 | 1,481 | $506 | 0.3 mi |
H 1041 E El Conquistador Sold | $970,000 | 4 | 3 | 2,000 | $485 | 0.9 mi |
I 2839 N Davis Way Active Under Contract | $1,220,000 List Price | 4 | 3 | 1,834 | $665 | 0.2 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
While originally built in 1963, the property has undergone significant renovations likely within the 10-15 year range. The kitchen features granite countertops, an island, and stainless steel appliances, and the home is marketed as turnkey and move-in ready. The interior finishes, recessed lighting, and well-maintained outdoor resort amenities indicate a property that has been consistently updated and maintained.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 10019, living area = 1816.
The property is sold turnkey furnished and is explicitly marketed as STVR-ready, providing immediate income potential for investors in a highly desirable Palm Springs neighborhood.
The backyard serves as a private oasis featuring an expansive pool, Tiki Palapa bar, fire pit, and stunning mountain views, perfectly capturing the desert resort lifestyle.
The assigned middle and high schools have average to lower ratings (4/10 and 6/10), which may be a drawback for families seeking a primary residence with top-tier educational facilities.
Built in 1963, the property may require ongoing maintenance or updates to its original structural and mechanical systems that are common with mid-century desert homes.
**Short Term Vacation Rental Opportunity, Turnkey Furnished Resort Style Vacation Home ** 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! Property is also available for Long Term Rental.
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 |
|---|---|---|
| Beds | 0.0 | 3.0 |
| Baths | 0.0 | 3.0 |
| Square foot | 1,816 | 2,076 |
| Lot Size | 10,019 | 10,454 |
| Price | $999.5K | $1.04M |
| Price per sq ft | $550 | $525 |
| Built year | 1963 | 1977 |
| HOA | $0 | $332 |
| Days on market | 8 | 75 |
Jul 14, 2026
$999,500
Initial Listing
Nov 30, 2021
$969,000
Public Record
Oct 13, 2016
$575,000
Public Record
Jul 31, 1997
$65,000
Public Record