5301 E Waverly Drive 124, Palm Springs, California 92264, Palm Springs, 92264 - 2 bed, 2 bath
ACTIVE$279,000
5301 E Waverly Drive 124, Palm Springs, California 92264
2Beds
2Baths
887Sqft
Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Strong Rental Income & Investment Potential: Currently generating $2.9K/month as an Airbnb with future bookings, making it an attractive short-term rental investment opportunity.
Top Cons:
Significant Monthly Association Fees: The $510 monthly association fee represents a substantial ongoing cost, impacting overall affordability and investment returns.
Compared to the nearby listings
Price:$279.0K vs avg $439.4K ($-160,450)9%
Size:887 sqft vs avg 1,307 sqft15%
Price/sqft:$315 vs avg $33837%
More Insights
Built in 1979 (46 years old).
Condition: Despite being built in 1979, the property is described as 'Newly remodeled' and 'Tastefully remodeled,' which is strongly supported by the visible modern aesthetics in the living areas and bedrooms. The inclusion of smart home features like remote temperature control, door access, and a Ring Camera further indicates recent, high-quality upgrades. While a direct image of the kitchen is not provided, the description implies it is fully equipped and ready for use, consistent with a turnkey property. The bathroom features an updated vanity with a modern vessel sink, and the shower, though a standard unit, appears clean and well-maintained, fitting the 'virtually new' standard for a recent renovation. The overall condition suggests minimal physical depreciation and meets current quality standards.
Year Built
1979
Close
-
List price
$279K
Original List price
$295K
Price/Sqft
$315
HOA
$510
Days on market
-
Sold On
-
MLS number
SB25216926
Home ConditionExcellent
Features
Good View: Hills, Meadow, Panoramic, Pool
Deck
ViewHills, Meadow, Panoramic, Pool
About this home
Must see 2 Bedroom Unit Newly remodeled Palm Canyon Villas property is nestled in a lovely, serene South Palm Springs Short-Term Rental Community. Its currently earning 2.9K per month as Airbnb short term rental and is also booked for the following months with open option for owner occupation. This Tastefully remodeled 2-bedroom, 2 bath (one bedroom conversion) turnkey unit presents luxury and style. Conveniently located within walking distance to Trader Joe's, Target, Vons and Starbucks. Walking and Hiking trails are close by. This condo is perfect for ownership living pride or as a short-term (5-day) rental investment. The property is equipped with Remote Temperature Control, Remote Door Access System and Ring Camera at the door. Seller is leaving most furniture and all kitchen items, dishes, cookware etc.
Nearby schools
4/10
Cahuilla Elementary School
Public,•K-5•3.0mi
4/10
Raymond Cree Middle School
Public,•6-8•4.5mi
4/10
Desert Learning Academy
Public,•K-12•2.5mi
6/10
Palm Springs High School
Public,•9-12•2.5mi
Condition Rating
Excellent
Despite being built in 1979, the property is described as 'Newly remodeled' and 'Tastefully remodeled,' which is strongly supported by the visible modern aesthetics in the living areas and bedrooms. The inclusion of smart home features like remote temperature control, door access, and a Ring Camera further indicates recent, high-quality upgrades. While a direct image of the kitchen is not provided, the description implies it is fully equipped and ready for use, consistent with a turnkey property. The bathroom features an updated vanity with a modern vessel sink, and the shower, though a standard unit, appears clean and well-maintained, fitting the 'virtually new' standard for a recent renovation. The overall condition suggests minimal physical depreciation and meets current quality standards.
Pros & Cons
Pros
Strong Rental Income & Investment Potential: Currently generating $2.9K/month as an Airbnb with future bookings, making it an attractive short-term rental investment opportunity.
Turnkey & Recently Remodeled: The unit is tastefully remodeled and offered as a turnkey solution, including most furniture and kitchen essentials, minimizing immediate buyer expenses.
Exceptional Location & Walkability: Situated within walking distance to essential amenities like Trader Joe's, Target, Vons, and Starbucks, plus nearby hiking trails.
Modern Smart Home Features: Equipped with remote temperature control, door access, and a Ring Camera, offering enhanced convenience and security.
Versatile Ownership Options: Ideal for both personal ownership pride and a lucrative short-term rental investment, offering flexibility to buyers.
Cons
Significant Monthly Association Fees: The $510 monthly association fee represents a substantial ongoing cost, impacting overall affordability and investment returns.
Unclear Bedroom Configuration: The description 'one bedroom conversion' within a 2-bedroom unit is ambiguous, potentially indicating a non-standard layout that might not suit all buyer preferences.
History of Price Reductions: Multiple price drops from the original listing suggest potential overpricing or challenges in attracting buyers at previous price points, which could raise questions about market value.