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700 N Prescott Drive, Palm Springs, California 92262, Palm Springs, 92262 - 3 bed, 4 bath

700 N Prescott Drive, Palm Springs, California 92262 home-pic-0
ACTIVE$1,795,000$1,695/sqft
Est. Value: $1,574,003
-12%
AboveEstimate
700 N Prescott Drive, Palm Springs, California 92262
3Beds
4Baths
1,695Sqft
10,019Lot

Price Vs. Estimate

The estimated value ($1,574,002.805) is $220,997.195 (12%) lower than the list price ($1,795,000). 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 = 10019, living area = 1695.
Top Cons:
Age of Core Systems & Last Major Renovation: While extensively remodeled in 1993-1994, the last major renovation was 30 years ago, suggesting that some core systems (e.g., plumbing, electrical, HVAC) may not be fully updated to current standards or could be nearing the end of their lifespan, potentially requiring future investment.

Compared to the nearby listings

Price:$1.79M vs avg $900.0K (+$895,000)87%
Size:1,695 sqft vs avg 2,014 sqft35%
Price/sqft:$1.1K vs avg $48095%

More Insights

Built in 1946 (80 years old).
Condition: The property is move-in ready with significant modern updates in key areas. The kitchen features sleek, contemporary cabinetry, stainless steel appliances (including a wine cooler), and integrated LED lighting. The main bathrooms are also updated with modern vanities, fixtures, and tile work. While the last extensive remodel was 30 years ago (1993-1994), and some core systems may be older, the visible living spaces, including flooring and lighting, are well-maintained and stylish. The pool bath, however, appears to retain an older, more dated aesthetic.
Year Built
1946
Close
-
List price
$1.79M
Original List price
$1.79M
Price/Sqft
$1,059
HOA
-
Days on market
-
Sold On
-
MLS number
219140502PS
Home ConditionGood
Features
Excellent View: Mountain(s), Pool
Pool
Spa
Patio
ViewMountain(s), Pool

About this home

Welcome to a rare Old Las Palmas offering--currently the lowest-priced home among surrounding $7M+ estates. Just one block from downtown Palm Springs' renowned restaurants, shops, and entertainment, this historic neighborhood is celebrated for its welcoming community, neighborhood socials, and morning dog/people strolls.Privately gated, the property opens to a serene desert oasis featuring mature landscaping complemented by newer low-maintenance desert additions. This beautifully renovated residence blends old-world charm with modern sophistication and offers exceptional versatility ideal as a short-term rental, pied-a-terre, condo alternative.Enter directly into the living room, highlighted by ceilings with exposed wood beams, modern lighting, and a cozy fireplace. The adjacent kitchen and dining area, visible through a classic serving window, overlook the saltwater pool, spa, and outdoor kitchen, creating seamless indoor-outdoor living perfect for entertaining.The home features two-bedroom suites plus a third bedroom currently used as an office. The elevated primary suite occupies the second level, offering breathtaking San Jacinto Mountain views, dramatic beamed ceilings, and stair access to the backyard and pool. A guest suite is located on the main level, along with the third bedroom/office and powder room. A fourth bath serves the pool area and includes generous storage within a detached structure. Originally built in 1946 and extensively remodeled in 1993-1994, additional highlights include LED lighting throughout, custom cabinetry and countertops, wine cooler, newer sprinkler system, and a carport.A rare chance to own a thoughtfully updated desert retreat in one of Palm Springs' most prestigious neighborhoods. Buyers should do their own due diligence & confirm with the city regarding any desired improvements.

L
Louise Hampton
Listing Agent
Condition Rating
Good
The property is move-in ready with significant modern updates in key areas. The kitchen features sleek, contemporary cabinetry, stainless steel appliances (including a wine cooler), and integrated LED lighting. The main bathrooms are also updated with modern vanities, fixtures, and tile work. While the last extensive remodel was 30 years ago (1993-1994), and some core systems may be older, the visible living spaces, including flooring and lighting, are well-maintained and stylish. The pool bath, however, appears to retain an older, more dated aesthetic.
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 = 10019, living area = 1695.
Prime Location & Value Proposition: Positioned in the prestigious Old Las Palmas neighborhood, this property is currently the lowest-priced home among surrounding $7M+ estates and is just one block from downtown Palm Springs' renowned amenities, offering exceptional value and walkability.
Renovated Charm & Modern Updates: The residence has been beautifully renovated, blending old-world charm with modern sophistication, featuring exposed wood beams, LED lighting, custom cabinetry, countertops, and a wine cooler, ensuring a move-in ready experience.
Exceptional Outdoor Living & Amenities: A privately gated serene desert oasis with mature and low-maintenance landscaping, a saltwater pool, spa, outdoor kitchen, and a dedicated pool bath, creating seamless indoor-outdoor living ideal for entertaining.
Versatile Use & Income Potential: The property offers exceptional versatility, making it ideal as a short-term rental, a pied-a-terre, or a condo alternative, appealing to a broad range of buyers seeking investment or flexible living options.
Desirable Views & Architectural Details: The elevated primary suite boasts breathtaking San Jacinto Mountain views and dramatic beamed ceilings, complemented by a living room with exposed wood beams and a cozy fireplace, enhancing the home's aesthetic appeal.

Cons

Age of Core Systems & Last Major Renovation: While extensively remodeled in 1993-1994, the last major renovation was 30 years ago, suggesting that some core systems (e.g., plumbing, electrical, HVAC) may not be fully updated to current standards or could be nearing the end of their lifespan, potentially requiring future investment.
Absence of Mentioned Cooling System: The property description does not specify the presence of a cooling system, which is a critical amenity for comfort in Palm Springs' hot climate and could be a significant drawback or an immediate upgrade requirement for potential buyers.
Modest Square Footage for Neighborhood: At 1695 sqft, the property offers a relatively compact living space compared to the larger estates typically found in the prestigious Old Las Palmas neighborhood, which might limit its appeal to buyers seeking more expansive residences.
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