5365 E Cherry Hills Drive, Palm Springs, California 92264, Palm Springs, 92264 - 3 bed, 3 bath

ACTIVE$1,550,000
5365 E Cherry Hills Drive, Palm Springs, California 92264
3Beds
3Baths
2,651Sqft
10,454Lot
Year Built
1981
Close
-
List price
$1.55M
Original List price
$1.59M
Price/Sqft
$585
HOA
-
Days on market
-
Sold On
-
MLS number
24469359
Home ConditionFair
Features
Excellent View: Golf Course, Mountain(s), Panoramic
ViewGolf Course,Mountain(s),Panoramic
About this home
Possibly Over-Priced:The estimated price is 44% below the list price. We found 3 Cons,5 Pros. Rank: price - $1.55M(64th), sqft - 2651(69th), beds - 3(50th), baths - 3(50th).
South Palm Springs Oasis with Panoramic Views. Own the land (NO LEASE). No golf or HOA fees.
Nearby schools
4/10
Cahuilla Elementary School
Public,•K-5•2.9mi
4/10
Raymond Cree Middle School
Public,•6-8•4.2mi
6/10
Palm Springs High School
Public,•9-12•2.2mi
4/10
Desert Learning Academy
Public,•K-12•2.2mi
Condition Rating
Fair
Built in 1981, this property is 43 years old. The listing explicitly notes a 'Lack of Mentioned Modern Updates' and provides no interior images, strongly suggesting that the kitchen, bathrooms, and other interior elements are likely original or have very outdated renovations. While major components are presumed functional, they undoubtedly show signs of being outdated in style and features, requiring significant cosmetic and potential functional updates to meet current standards. There's no indication of severe defects that would warrant a 'poor' rating, but it's far from 'good' or 'excellent' due to its age and lack of recent renovation.
Pros & Cons
Pros
Panoramic Views: The property boasts desirable panoramic views of the Golf Course and Mountains, enhancing its appeal and potential value.
Fee Simple Ownership: The property includes land ownership (no lease), which is a significant advantage and often preferred in the Palm Springs market.
No HOA Fees: Absence of Homeowners Association (HOA) fees provides cost savings and greater flexibility for the homeowner.
Desirable Location: Situated in 'South Palm Springs Oasis', a highly sought-after area known for its lifestyle and amenities.
Generous Space: Offers a spacious 2,651 sqft living area on a substantial 10,454 sqft lot, providing ample indoor and outdoor space.
Cons
Significant Price Discrepancy: The current listing price of $1,550,000 is considerably higher than the estimated property value of $853,055.76, suggesting potential overpricing or a need for strong justification.
Lack of Mentioned Modern Updates: Built in 1981, the description does not highlight any recent renovations or modern upgrades, which could imply dated interiors compared to updated comparable properties.
Unspecified Cooling System: Given Palm Springs' climate, the absence of explicit mention of an HVAC or cooling system in the description is a notable omission and potential concern for buyers.