5125 E Waverly Drive B2, Palm Springs, California 92264, Palm Springs, 92264 - 2 bed, 2 bath
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Palm Springs, California 92264
This bright Palm Springs residence is a High-Potential Investment Opportunity, listed at $264,000—positioned well below the $274,000 Fair Market Value by 3%. This valuation gap offers $10,000 in Instant Equity. Situated on rare FEE land, the unit maintains a Move-in Ready Condition Rating with updated tile flooring and a balcony showcasing Mountain and Pool Views. Its prime location near Trader Joe's and Palm Springs High School ensures high demand. This is an ideal match for Owner-Occupants or Buy-and-Hold Investors.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 5125 E Waverly Drive B2 Subject | $259,000* List Price | 2 | 2 | 932 | $287 | - |
A 5175 E Waverly Drive F47 Sold | $240,000 | 1 | 2 | 887 | $271 | 0.0 mi |
B 5125 E Waverly Drive B11 Sold | $265,000 | 2 | 2 | 887 | $299 | 0.0 mi |
C 5125 E Waverly Drive B5 Sold | $280,000 | 1 | 2 | 901 | $311 | 0.0 mi |
D 5301 E Waverly Drive 222 Sold | $270,000 | 2 | 2 | 979 | $276 | 0.3 mi |
E 5175 E Waverly Drive F49 Sold | $240,000 | 1 | 2 | 887 | $271 | 0.0 mi |
F 5994 Fairway Circle Sold | $235,000 | 1 | 2 | 951 | $247 | 1.0 mi |
G 5301 E Waverly Drive 124 Active | $265,000 List Price | 2 | 2 | 887 | $299 | 0.2 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
The property is in move-in ready condition and appears well-maintained. While the kitchen and bathrooms feature older styles—including white appliances and dated cabinetry—the unit has been updated with modern large-format tile flooring throughout and fresh interior paint. Built in 1978, the home shows minimal wear and tear, and although it lacks a full modern renovation, all systems appear functional and clean, fitting the criteria for a well-kept, move-in ready residence.
This property is located on FEE land, a significant advantage in Palm Springs that offers greater investment security and easier financing compared to properties on leased land.
The condo boasts exceptional convenience, situated within walking distance to major retailers like Trader Joe's and Target, and just minutes from downtown shopping and dining.
The large covered balcony provides a perfect vantage point for both stunning mountain vistas and overlooking the lush pool area, enhancing the vacation-like atmosphere.
At $506 per month, the association fees are relatively high for a unit under 1,000 square feet, which may impact the overall affordability for some buyers.
With only 932 square feet for a two-bedroom layout, the interior dimensions are somewhat tight, which could be a limitation for those seeking more spacious accommodations.
NEW PRICE REDUCTION! Welcome to 5125 Waverly Drive, Unit B2. This condo on FEE land is a bright and inviting 2-bedroom, 2-bath residence nestled in the sought-after Palm Canyon Villas community. The open-concept layout features an airy kitchen that flows easily into the living and dining areas, all illuminated by abundant natural light. The spacious primary suite provides privacy and comfort, while the second bedroom is ideal for guests, a home office, or rental flexibility. Step outside to a generous covered balcony that showcases beautiful mountain views and overlooks the meticulously maintained pool and grounds. A dedicated laundry closet with washer and dryer is discreetly situated on the balcony for added convenience. Palm Canyon Villas is a beautiful and quiet community with lush landscaping, sparkling pool and spa with exceptional mountain views, and tennis courts. Located just minutes from downtown Palm Springs shopping, restaurants, and casino fun and walking distance to favorite shops including Trader Joe's Starbucks, Vons, and Target. Quick and easy freeway access to the east valleys premier shopping and dining destinations this property offers exceptional convenience in a tranquil setting. Whether you're seeking a full-time residence, a seasonal escape, or a smart investment opportunity, this quiet centrally located home presents a versatile and appealing option in one of Palm Springs' most accessible neighborhoods.
No exterior & parking available.
Grades K-5 • 2.9 mi
Grades 6-8 • 4.4 mi
Grades K-12 • 2.3 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 | 932 | 1,385.5 | 14% |
| Lot Size | 977 | 871 | 54% |
| Price | $259.0K | $488.5K | 8% |
| Price per sq ft | $278 | $358 | 20% |
| Built year | 1978 | 1977 | 56% |
| HOA | $506.0 | $620 | 17% |
| Days on market | 118 | 151 | 28% |
Apr 8, 2026
$259,000
$264,000
-2% Price Drop
Initial Listing
Mar 9, 2026
$264,000
$274,000
-4% Price Drop
Initial Listing
Feb 9, 2026
$274,000
Initial Listing
May 9, 2014
$118,000
Public Record
Feb 7, 2007
$215,000
Public Record
Jan 4, 2000
$74,000
Public Record