535 E Via Colusa, Palm Springs, California 92262, Palm Springs, 92262 - 6 bed, 7 bath

535 E Via Colusa, Palm Springs, California 92262 home-pic-0
ACTIVE$2,595,000
535 E Via Colusa, Palm Springs, California 92262
6Beds
7Baths
3,554Sqft
15,682Lot

Price Vs. Estimate

The estimated value ($1,939,541.84) is $655,458.16 (25%) lower than the list price ($2,595,000). This property may be overpriced.

Key pros and cons

Top Pros:
High Available Lot Utilization: The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 15682, living area = 3554.
Top Cons:
Significant Overpricing: The property's current list price of $2.595M is substantially higher than its estimated value of approximately $1.94M (a 25% difference), indicating a potential overvaluation in the current market.

Compared to the nearby listings

Price:$2.60M vs avg $925.0K (+$1,670,000)94%
Size:3,554 sqft vs avg 2,100 sqft95%
Price/sqft:$730 vs avg $49186%

More Insights

Built in 1990 (35 years old).
Condition: Built in 1990, this Spanish Colonial estate has undergone significant modern upgrades, including a beautifully updated kitchen with sleek Quartz countertops, high-end stainless steel appliances, and a modern subway tile backsplash. The property also boasts a cutting-edge solar energy system and Wi-Fi-controlled, solar-heated pool equipment, indicating recent investment in major systems. While some bathrooms feature more traditional finishes, they are meticulously maintained and functional. The terracotta flooring throughout the main living areas is consistent with the architectural style and in excellent condition. The property is move-in ready with no immediate renovations required, aligning well with the 'Good' rating criteria for a home extensively renovated within the last 5-15 years, where major systems are functional and updated, but not every component is brand new.
Year Built
1990
Close
-
List price
$2.6M
Original List price
$2.85M
Price/Sqft
$730
HOA
-
Days on market
-
Sold On
-
MLS number
24463733
Home ConditionGood
Features
Excellent View: Mountain(s)
Pool
Spa
Patio
ViewMountain(s)

About this home

Price Reduction: Iconic Spanish Colonial Estate in the Movie Colony. Own an extraordinary piece of Palm Springs in the exclusive Movie Colony, a neighborhood renowned for its Hollywood glamour and timeless appeal. This expansive Spanish Colonial Revival estate, set on a private, gated lot, offers unparalleled luxury and seclusion just moments from downtown Palm Springs. Once frequented by legends like Marilyn Monroe, Frank Sinatra, and Cary Grant, this property captures the essence of classic elegance while delivering modern comfort. The estate, built in 1990, is designed for grand living and entertaining, with spacious interiors that flow seamlessly to the outdoors. French doors open to an expansive patio, manicured lawn, and a sparkling pool and spa, all framed by breathtaking views of the San Jacinto Mountains. The six-bedroom layout includes two private casitas, each with a separate entrance, ideal for hosting guests or generating income as short-term rentals. With a vacation rental license ready for reapplication, the property presents a turnkey investment opportunity. Modern upgrades include Wi-Fi-controlled pool equipment, a solar-heated pool, and a cutting-edge solar energy system with 40 panels, all micro inverter, producing approximately 1,433 kWh per month. The updated kitchen features sleek Quartz countertops and high-end finishes, blending style with functionality. Surrounded by vibrant bougainvillea, mature trees, and lush custom landscaping, the estate offers year-round beauty and tranquility. This meticulously maintained home effortlessly combines historic charm with modern luxury, creating an estate that is as timeless as it is inviting. Don't miss this opportunity to own one of Palm Springs' most desirable properties in the prestigious Movie Colony. Schedule a private viewing today!

Nearby schools

7/10
Katherine Finchy Elementary School
Public,K-50.5mi
4/10
Raymond Cree Middle School
Public,6-81.0mi
4/10
Desert Learning Academy
Public,K-121.6mi
6/10
Palm Springs High School
Public,9-121.6mi
Condition Rating
Good

Built in 1990, this Spanish Colonial estate has undergone significant modern upgrades, including a beautifully updated kitchen with sleek Quartz countertops, high-end stainless steel appliances, and a modern subway tile backsplash. The property also boasts a cutting-edge solar energy system and Wi-Fi-controlled, solar-heated pool equipment, indicating recent investment in major systems. While some bathrooms feature more traditional finishes, they are meticulously maintained and functional. The terracotta flooring throughout the main living areas is consistent with the architectural style and in excellent condition. The property is move-in ready with no immediate renovations required, aligning well with the 'Good' rating criteria for a home extensively renovated within the last 5-15 years, where major systems are functional and updated, but not every component is brand new.
Pros & Cons

Pros

High Available Lot Utilization: The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 15682, living area = 3554.
Prestigious Location & Historical Significance: Located in the exclusive Movie Colony, known for Hollywood glamour and celebrity connections, offering a unique historical appeal and close proximity to downtown Palm Springs.
Exceptional Income Potential & Versatility: Features a 6-bedroom layout with two private casitas, each with a separate entrance, and a vacation rental license (ready for reapplication), providing significant short-term rental income opportunities or flexible guest accommodation.
Advanced Energy Efficiency & Modern Systems: Equipped with a cutting-edge 40-panel solar energy system (micro inverter, ~1,433 kWh/month) and a solar-heated pool with Wi-Fi control, offering substantial energy savings and modern convenience.
Luxurious Outdoor Entertainment & Mountain Views: Boasts an expansive patio, manicured lawn, sparkling pool and spa, lush custom landscaping, and breathtaking San Jacinto Mountain views, ideal for grand entertaining and relaxation.
Updated Interiors & Meticulous Maintenance: Includes an updated kitchen with sleek Quartz countertops and high-end finishes, and the property is described as meticulously maintained, blending historic charm with modern comfort.

Cons

Significant Overpricing: The property's current list price of $2.595M is substantially higher than its estimated value of approximately $1.94M (a 25% difference), indicating a potential overvaluation in the current market.
Recent Price Reduction: The property has already undergone a price reduction from its original list price of $2.85M, which may suggest previous difficulty in attracting offers and could signal a need for further price adjustments to align with buyer expectations.
Specific Architectural Style Appeal: While the 'Iconic Spanish Colonial Revival Estate' offers historic charm, this specific architectural style, despite modern updates, might have a more niche appeal compared to the broader market demand for contemporary or mid-century modern designs prevalent in Palm Springs.

Best solution for experienced home buyers!

Data-driven home buying experience with our licensed real estate agents and cutting-edge AI

Browse Properties by State Browse housing market trends by state