5301 E Waverly Drive 222, Palm Springs, California 92264, Palm Springs, 92264 - 2 bed, 2 bath
ACTIVE$275,000$979/sqft
5301 E Waverly Drive 222, Palm Springs, California 92264
2Beds
2Baths
979Sqft
Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Short-Term Rental Potential: The community is friendly to short-term vacation rentals, offering a strong income-generating opportunity for investors.
Top Cons:
High Association Fees: The monthly association fee of $506 is a significant recurring cost that impacts the overall affordability and potential investment returns.
Compared to the nearby listings
Price:$275.0K vs avg $432.5K ($-157,500)10%
Size:979 sqft vs avg 1,316 sqft16%
Price/sqft:$281 vs avg $33320%
More Insights
Built in 1979 (47 years old).
Condition: Built in 1979, this condo shows signs of regular upkeep and some updates, such as modern mosaic backsplash in the kitchen, updated bathroom vanities, recessed lighting, crown molding, and a Nest thermostat. However, the kitchen features dated tile countertops and older white appliances, and the kitchen's fluorescent ceiling light is also outdated. While move-in ready, these elements indicate the property is aged and would benefit from minor updates to achieve a more contemporary feel, aligning with the 'Fair' condition criteria.
Year Built
1979
Close
-
List price
$275K
Original List price
$275K
Price/Sqft
$281
HOA
$506
Days on market
-
Sold On
-
MLS number
26639653PS
Home ConditionFair
Features
Good View: Courtyard, Mountain(s), Peek-A-Boo, Pool
Pool
Spa
ViewCourtyard, Mountain(s), Peek-A-Boo, Pool
About this home
Located in a short-term vacation rental friendly community with a 5-day minimum stay (Palm Springs City permit required; rules and regulations apply), Palm Canyon Villas offers resort-style amenities including pools, spas, and tennis courts. This community is conveniently situated in highly desirable South Palm Springs, close to Trader Joe's, Target, Vons, and Tahquitz Creek Golf Resort. Downtown Palm Springs is approximately a 10-minute drive, and Downtown Cathedral City is just down the road. This fully furnished condo features 2 bedrooms and 2 bathrooms, a dining area, an enclosed patio/porch, and in-unit laundry. The spacious primary suite includes two large closets. Additional highlights include smooth ceilings, recessed lighting, and crown molding. Come see this lovely home it's move-in ready and ready for occupants! Buyer to verify all information.
E
Eric Yoshimura
Listing Agent
Nearby schools
4/10
Cahuilla Elementary School
Public,•K-5•3.2mi
4/10
Raymond Cree Middle School
Public,•6-8•4.6mi
4/10
Desert Learning Academy
Public,•K-12•2.6mi
6/10
Palm Springs High School
Public,•9-12•2.6mi
Condition Rating
Fair
Built in 1979, this condo shows signs of regular upkeep and some updates, such as modern mosaic backsplash in the kitchen, updated bathroom vanities, recessed lighting, crown molding, and a Nest thermostat. However, the kitchen features dated tile countertops and older white appliances, and the kitchen's fluorescent ceiling light is also outdated. While move-in ready, these elements indicate the property is aged and would benefit from minor updates to achieve a more contemporary feel, aligning with the 'Fair' condition criteria.
Pros & Cons
Pros
Short-Term Rental Potential: The community is friendly to short-term vacation rentals, offering a strong income-generating opportunity for investors.
Resort-Style Amenities: Residents and guests benefit from access to multiple pools, spas, and tennis courts, enhancing the lifestyle and rental appeal.
Prime South Palm Springs Location: Conveniently situated near major retailers like Trader Joe's and Target, golf courses, and just a 10-minute drive to Downtown Palm Springs.
Fully Furnished & Move-in Ready: The condo is offered fully furnished and is move-in ready, reducing initial setup costs and effort for buyers or renters.
Desirable Interior Features: Features include smooth ceilings, recessed lighting, crown molding, a spacious primary suite with two large closets, and in-unit laundry.
Cons
High Association Fees: The monthly association fee of $506 is a significant recurring cost that impacts the overall affordability and potential investment returns.
Property Age: Built in 1979, the property's age may suggest original systems or components that could require future maintenance or capital expenditures.
Short-Term Rental Restrictions: While allowed, the 5-day minimum stay requirement and the need for a Palm Springs City permit add administrative complexity and potential limitations for rental flexibility.