73850 Fairway Drive 296, Palm Desert, California 92260, Palm Desert, 92260 - 0 bed, 1 bath
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Palm Desert, California 92260
This Turnkey Resort Asset is a Strong Value Opportunity, listed at $265,000—positioned well below the $291,618 Fair Market Value by 9%. This valuation gap offers $26,618 in Instant Equity for a property in Remodeled Condition. The studio features mountain and creek views, a private balcony, and immediate proximity to El Paseo shopping. Zoned for the 7-rated Palm Desert High School, this furnished unit is an ideal acquisition for Short-Term Rental Investors or Vacation Home Buyers seeking a high-utility desert retreat.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 73850 Fairway Drive 296 Subject | $265,000* List Price | 0 | 1 | 640 | $436 | - |
A 73850 Fairway Drive 225 Sold | $269,000 | 0 | 1 | 571 | $471 | 0.0 mi |
B 73165 Tumbleweed Lane 4 Sold | $272,500 | 1 | 1 | 621 | $439 | 0.6 mi |
C 73850 Fairway Active | $215,000 List Price | 0 | 1 | 432 | $498 | 0.0 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
While the building was constructed in 1969, the interior has been remodeled with granite countertops, updated cabinetry, and a modernized tiled walk-in shower. The unit is well-maintained, fully furnished, and move-in ready, appearing to fall within the 5-15 year renovation window.
Situated in the heart of South Palm Desert near El Paseo, providing immediate access to world-class shopping, dining, and galleries.
Offered fully furnished with short-term rental potential, this property is ready for immediate use as a vacation home or income-producing asset.
The upper-level unit features a private balcony with peaceful creek and mountain views, offering enhanced privacy and a serene resort atmosphere.
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =871, other record lot size in square feet = 650.
The monthly HOA fee of $2,068 is exceptionally high for a studio unit, which may deter some buyers and impact the net ROI for investors.
As a 640-square-foot studio built in 1969, the property lacks a separate bedroom and offers limited square footage compared to modern residential standards.
A rare creekside desert retreat at the Historic Shadow Mountain Resort, Unit 296 offers charm, comfort, and income potential in the heart of South Palm Desert. This larger upper-level studio lives beautifully, with an open layout, generous living space, and a private balcony overlooking the peaceful creek with mountain views. Offered fully furnished and turnkey, this inviting property is ready for immediate enjoyment as a weekend escape, seasonal residence, full-time home, or income-producing asset. The remodeled interior lives comfortably with easy flow, inviting natural light, and a layout that feels both functional and relaxed. Shadow Mountain Resort is a gated community known for lush grounds, a classic resort setting, and a prime location near El Paseo, the Rodeo Drive of the Coachella Valley, dining, shopping, galleries, golf, and hiking. HOA coverage includes all utilities, cable TV, and internet, creating exceptional convenience and value. Owners enjoy community pools, spa areas, guest parking, assigned covered parking, and additional resort membership options for pickleball, tennis, fitness, pool, spa, and more. Creekside ambiance, upper-level privacy, and a sought-after Palm Desert address make this a coveted lock-and-leave desert base or rental asset.
No exterior & parking available.
Grades 9-12 • 1.7 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 0.0 | 2.0 | 1% |
| Baths | 1.0 | 2.0 | 4% |
| Square foot | 640 | 1,548 | 2% |
| Lot Size | 871 | 2,613 | 27% |
| Price | $265.0K | $499.0K | 3% |
| Price per sq ft | $414 | $335 | 73% |
| Built year | 1969 | 1979 | 12% |
| HOA | $2068.0 | $764 | 98% |
| Days on market | 48 | 157 | 4% |
Apr 20, 2026
$265,000
Initial Listing
May 27, 2022
$250,000
Public Record
Dec 30, 2009
$480,000
Public Record