505 505 S Farrell, Palm Springs, California 92264, Palm Springs, 92264 - 1 bed, 1 bath
505 505 S Farrell
Palm Springs, California 92264
Property Price
SUMMARY
Analysis of 505 505 S Farrell, Palm Springs, California 92264 is currently available with a list price of $279,900. The property maintains a Good Condition Rating (78/100), reflecting solid structural condition with well-maintained systems. The property presents an attractive opportunity for buyers seeking a move-in ready home. Located in a high-demand neighborhood within the Palm Springs Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for both Buy-and-Hold Investors and Owner-Occupants willing to undertake light renovation work.
Condition Analysis
OVERALL CONDITION SCORE
Property is move-in ready.
The property is move-in ready and well-maintained, featuring significant aesthetic updates such as marble-colored tile flooring throughout. While the 1985 construction and white kitchen appliances are older, the unit has been refreshed with white cabinetry and built-in storage, and includes desirable features like a private laundry room and multiple patios, placing it in the 'good' category for its age and maintenance level.
PROSSTRENGTHS & OPPORTUNITIES
- Desirable Corner Location
As a first-floor corner unit, this property benefits from increased natural light and features two distinct patios offering views of the Prescott Preserve and pool area.
- Comprehensive HOA Package
The monthly association fee includes essential utilities such as water, trash, cable, and internet, providing a convenient and predictable cost of living for the owner.
- Enhanced Living Space
The unit offers a spacious open floor plan with premium marble-colored tile flooring, a private laundry room, and significant built-in storage, making it feel larger than a standard one-bedroom.
CONSRISKS & DEFICIENCIES
- High Monthly Carrying Costs
The $507 monthly HOA fee represents a substantial recurring expense that may impact the overall affordability and debt-to-income ratio for potential buyers.
- 1980s Era Construction
Built in 1985, the property may require ongoing maintenance or modernization of original systems and common areas compared to newer developments in the Palm Springs area.
About 505 505 S Farrell
Wonderful first floor corner unit in the popular Mesquite Country Club! Lots of light coming in with 2 patios available to enjoy, open floor plan. This place has two closets and lots of built in cabinets for extra storage. One of the patios is private with vine growing on the fence near the pool, the other patio has a view of the Prescott Preserve! Private laundry room is located by the private patio with keys. The floors are beautiful white marble colored tile and kitchen cabinets are white with lots of storage area. The place is spacious and it feels bigger than most one bedroom units. The location is perfect, in the heart of Palm Springs with tennis courts, trails and more. HOA covers water, trash, cable and internet. It is a 5 minute drive from downtown area, and close to everything including biking trails and more.
Property Details
Public Facts
- Property Type
- Condominium
- Year Built
- 1985
- Lot Size
- -
Interior
- Total Bedrooms
- 1
- Total Bathrooms
- 1 (1 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $507.0 / Month
Neighborhood Insights
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 1.0 | 2.0 | 13% |
| Baths | 1.0 | 2.0 | 10% |
| Square foot | 797 | 1,322 | 10% |
| Lot Size | - | 1,148 | 38% |
| Price | $279.9K | $450.0K | 13% |
| Price per sq ft | $351 | $330 | 59% |
| Built year | 1985 | 1977 | 88% |
| HOA | $507.0 | $624 | 24% |
| Days on market | 159 | 163 | 46% |
Pricing History
Listed for Sale
Feb 28, 2026
$279,900
$289,900
-3% Price Drop
Initial Listing
Price Change
Nov 26, 2025
$289,900
$299,900
-3% Price Drop
Initial Listing
Price Change
Oct 17, 2025
$299,900
$315,000
-5% Price Drop
Initial Listing
Price Change
Sep 29, 2025
$315,000
Initial Listing