51225 Avenida Velasco, La Quinta, California 92253, La Quinta, 92253 - 3 bed, 2 bath
ACTIVE UNDER CONTRACT$480,000$1,608/sqft
Est. Value: $500,260
4%
BelowEstimate
51225 Avenida Velasco, La Quinta, California 92253
3Beds
2Baths
1,608Sqft
6,098Lot
Price Vs. Estimate
The estimated value ($500,260.205) is $20,260.205 (4%) higher than the list price ($480,000). This property may be underpriced.
Key pros and cons
Top Pros:
Prime Location: The property boasts an excellent location, just a couple of blocks away from the popular Old Town La Quinta, offering convenient access to amenities and attractions.
Top Cons:
MLS Listing Discrepancy: Living area discrepancy between mls listing and other public or private record. mls listing living area = 1608, other record living area = 1451.
Compared to the nearby listings
Price:$480.0K vs avg $807.0K ($-327,000)14%
Size:1,608 sqft vs avg 2,364 sqft19%
Price/sqft:$299 vs avg $37416%
More Insights
Built in 1977 (49 years old).
Condition: Despite being built in 1977, the property has undergone significant and recent renovations, particularly in the kitchen and bathrooms. The kitchen features modern white shaker cabinets, black stone-look countertops, stainless steel appliances, and a contemporary backsplash. Both bathrooms are updated with new vanities, countertops, fixtures, and tiling. The living areas have new wood-look laminate flooring, and the bedrooms have clean, updated carpeting. The interior is move-in ready with no immediate renovations required, aligning with the 'Good' condition criteria for properties extensively renovated within the last 5-15 years.
Year Built
1977
Close
-
List price
$480K
Original List price
$480K
Price/Sqft
$299
HOA
-
Days on market
-
Sold On
-
MLS number
219140585DA
Home ConditionGood
Features
Good View: Mountain(s)
Patio
ViewMountain(s)
About this home
An ideal rental property in La Quinta Cove, just a couple blocks away from Old Town La Quinta. All three bedrooms in the home are equally sized, making it ideal to rent to long term tenants. When you enter the home, you'll be struck by the open and updated living room & kitchen, with ample storage and beautiful countertops. The back and front yards have beautifully landscaped lawns, perfect for families with little kids and pets to run around and enjoy. Come take a look and see for yourself how quickly you can be cash-flow positive with a home like this!
M
Matthew Miede
Listing Agent
Nearby schools
5/10
Benjamin Franklin Elementary School
Public,•K-5•0.3mi
5/10
John Adams Elementary School
Public,•K-5•0.6mi
6/10
Harry S. Truman Elementary School
Public,•K-5•1.4mi
5/10
La Quinta Middle School
Public,•6-8•1.4mi
6/10
La Quinta High School
Public,•9-12•3.1mi
Price History
Date
Event
Price
08/29/97
Sold
$145,000
08/30/21
Sold
$560,000
01/11/18
Sold
$350,000
08/27/13
Sold
$179,000
Condition Rating
Good
Despite being built in 1977, the property has undergone significant and recent renovations, particularly in the kitchen and bathrooms. The kitchen features modern white shaker cabinets, black stone-look countertops, stainless steel appliances, and a contemporary backsplash. Both bathrooms are updated with new vanities, countertops, fixtures, and tiling. The living areas have new wood-look laminate flooring, and the bedrooms have clean, updated carpeting. The interior is move-in ready with no immediate renovations required, aligning with the 'Good' condition criteria for properties extensively renovated within the last 5-15 years.
Pros & Cons
Pros
Prime Location: The property boasts an excellent location, just a couple of blocks away from the popular Old Town La Quinta, offering convenient access to amenities and attractions.
Strong Investment Potential: Explicitly marketed as an 'ideal rental property' with potential to be 'cash-flow positive,' making it highly attractive to investors seeking income-generating assets.
Updated Interior Spaces: Features an 'open and updated living room & kitchen' with 'ample storage and beautiful countertops,' providing a modern and appealing living environment.
Desirable Outdoor Living: The property includes 'beautifully landscaped lawns' in both the front and back yards, ideal for families, children, and pets.
Mountain Views: Enjoys desirable mountain views, enhancing the aesthetic appeal and overall living experience.
Cons
MLS Listing Discrepancy: Living area discrepancy between mls listing and other public or private record. mls listing living area = 1608, other record living area = 1451.
Age of Property: Built in 1977, the property's age may imply older infrastructure (e.g., plumbing, electrical, HVAC) that could require future maintenance or upgrades beyond the mentioned cosmetic updates.
Price History Discrepancy: The current list price of $480,000 is significantly lower than the last recorded sale price of $560,000 in 2021, which may warrant further investigation into market conditions or property specifics.
Limited Scope of Updates: While the living room and kitchen are updated, the description does not specify updates to other key areas such as bathrooms, roofing, or major systems, suggesting potential for additional investment.