547 N Farrell Drive, Palm Springs, California 92262, Palm Springs, 92262 - 3 bed, 2 bath

547 N Farrell Drive, Palm Springs, California 92262 home-pic-0
ACTIVE$899,990
547 N Farrell Drive, Palm Springs, California 92262
3Beds
2Baths
1,360Sqft
10,019Lot

Price Vs. Estimate

The estimated value ($899,990) is $0 (0%) lower than the list price ($899,990). This property may be overpriced.

Key pros and cons

Top Pros:
Short-Term Rental Eligibility: Located in a central neighborhood below the city's short-term rental cap, making it eligible for a vacation rental permit (with city license and requirements), offering significant income potential for investors.
Top Cons:
Age of Property: Built in 1960, while updated, the property's age may imply potential for older infrastructure or systems that could require future maintenance or upgrades not explicitly detailed as new.

Compared to the nearby listings

Price:$900.0K vs avg $925.0K ($-25,010)48%
Size:1,360 sqft vs avg 2,096 sqft14%
Price/sqft:$662 vs avg $49179%

More Insights

Built in 1960 (65 years old).
Condition: Despite being built in 1960, this property has undergone extensive and stylish renovations, evident in the modern kitchen with new stainless steel appliances, contemporary cabinetry, and chic tile backsplash. The bathrooms feature updated fixtures, vanities, and modern tiling (like the herringbone shower floor). Flooring throughout is consistent, modern tile, and light fixtures are updated. The overall aesthetic is a cohesive, high-quality mid-century modern revival, indicating a recent, comprehensive renovation within the last 5 years, leaving the property in virtually new condition with no deferred maintenance.
Year Built
1960
Close
-
List price
$900K
Original List price
$930K
Price/Sqft
$662
HOA
-
Days on market
-
Sold On
-
MLS number
25535115
Home ConditionExcellent
Features
Good View: City Lights, Desert, Mountain(s)
Pool
Spa
Patio
ViewCity Lights,Desert,Mountain(s)

About this home

Play in the sun, profit in style, and park your RV, as this Meiselman has it all! Welcome to your Mid-Century Modern desert dream, where retro cool meets resort-style living just minutes from downtown Palm Springs! Located in a central neighborhood that falls below the city's short-term rental cap, this home is currently eligible for a vacation rental permit (add a city license and meet requirements), making it an ideal choice for investors, weekenders, or sun-seekers looking for fun and flexibility. This iconic 3-bed, 2-bath Meiselman flaunts its signature butterfly roof and sits on an expansive 10,000+ square foot lot. Inside, you'll find an airy, open-concept floor plan drenched in natural light, with stylish updates and mid-mod charm. The oversized kitchen island begs for cocktail parties and late-night laughs, while the showstopping fireplace adds just the right amount of chic to your chill. But let's talk outdoors because this backyard is pure Palm Springs magic. Dive into the sparkling pool, soak in the hot tub, sip fireside cocktails, or kick back under the stars on the lawn. Each bedroom opens to a private patio, turning the whole house into a breezy, indoor-outdoor escape. Bonus points? What if I told you there is off-street parking for up to SEVEN cars? Yup, there is a concrete gated RV pad plus the two-car garage, and tons of driveway parking make room for all your guests and toys! Consider the potential for an ADU if you're feeling extra ambitious, because this lot is HUGE. Whether you're searching for a fabulous full-time residence, a stylish second home, or a rental-ready income property, this one delivers sun, style, and serious opportunity. And with LA just two hours away? Your beach-to-desert lifestyle just got a serious upgrade. Live it. Share it. Rent it. Love it.

Condition Rating
Excellent

Despite being built in 1960, this property has undergone extensive and stylish renovations, evident in the modern kitchen with new stainless steel appliances, contemporary cabinetry, and chic tile backsplash. The bathrooms feature updated fixtures, vanities, and modern tiling (like the herringbone shower floor). Flooring throughout is consistent, modern tile, and light fixtures are updated. The overall aesthetic is a cohesive, high-quality mid-century modern revival, indicating a recent, comprehensive renovation within the last 5 years, leaving the property in virtually new condition with no deferred maintenance.
Pros & Cons

Pros

Short-Term Rental Eligibility: Located in a central neighborhood below the city's short-term rental cap, making it eligible for a vacation rental permit (with city license and requirements), offering significant income potential for investors.
Iconic Mid-Century Modern Design: An iconic Meiselman home featuring a signature butterfly roof, open-concept floor plan, stylish updates, and mid-mod charm, appealing to a specific and desirable aesthetic.
Resort-Style Outdoor Living: The expansive backyard boasts a sparkling pool, hot tub, fireside cocktail area, and lawn, with each bedroom opening to a private patio, creating an ideal indoor-outdoor desert oasis.
Expansive Lot with ADU Potential & Ample Parking: Situated on a large 10,000+ sqft lot, offering potential for an Accessory Dwelling Unit (ADU) and exceptional off-street parking for up to seven cars, including a gated RV pad and two-car garage.
Prime Palm Springs Location & Views: Centrally located just minutes from downtown Palm Springs, providing convenient access to amenities, and featuring desirable city lights, desert, and mountain views.

Cons

Age of Property: Built in 1960, while updated, the property's age may imply potential for older infrastructure or systems that could require future maintenance or upgrades not explicitly detailed as new.
Modest Interior Square Footage: With 1360 sqft, the interior living space might be considered modest for some buyers, especially given the expansive lot size and extensive outdoor amenities.
Vacation Rental Permit Not Turn-Key: While eligible for a vacation rental permit, it requires the new owner to 'add a city license and meet requirements,' indicating additional time, effort, and potential costs before full rental operation.

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