
Palm Springs, California 92262
This property presents a High-Potential Investment Opportunity with a List Price of $425,000—positioned well below the $379,863 Fair Market Value by -11%. Featuring a Condition Rating of 5, this unit requires a full interior rehab, offering a blank canvas for value-add improvements. Located on Fee Land just two blocks from downtown, the residence provides a rare single-level layout with pool and mountain views. This is a strategic acquisition ideal for Fix-and-Flip Investors or Owner-Occupants seeking to build equity through renovation.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 815 E Arenas Road Subject | $425,000* List Price | 2 | 2 | 1,176 | $323 | - |
A 222 N Calle El Segundo 565 Sold | $370,000 | 2 | 2 | 1,147 | $323 | 0.3 mi |
B 222 N Calle El Segundo 560 Sold | $360,000 | 2 | 2 | 1,150 | $313 | 0.3 mi |
C 280 S Avenida Caballeros 223 Sold | $300,000 | 2 | 2 | 1,082 | $277 | 0.2 mi |
D 1456 Tiffany Circle N Sold | $430,000 | 2 | 2 | 1,251 | $344 | 0.5 mi |
E 222 N Calle El Segundo 543 Sold | $375,000 | 2 | 2 | 944 | $397 | 0.4 mi |
F 280 S Avenida Caballeros 214 Active | $299,900 List Price | 2 | 2 | 1,128 | $266 | 0.2 mi |
* Subject property listed price vs sold prices of comps.
Property is extensive renovation needed.
Built in 1979 and marketed as 'renovation-ready,' the property is in poor condition with a completely outdated kitchen, original bathrooms, and missing flooring throughout, requiring a full interior rehab.
Situated on Fee Land (no land lease) just two blocks from downtown Palm Springs, this property offers a rare combination of central convenience, minimal wind, and full land ownership.
This residence features a rare single-level floor plan with no upstairs neighbors, providing enhanced privacy and a 'house-like' feel within a quiet, intimate community.
Priced at $425,000—well below the recent $540,000 comparable sale—this unit presents a compelling opportunity to build immediate equity through a custom renovation.
The property is explicitly sold in 'renovation-ready' condition, requiring the buyer to commit additional capital and time to modernize the space.
With 92 days on the market, the property has surpassed typical turnover times, which may indicate that the current price-to-condition ratio is challenging for some buyers.
FEE LAND. NO LAND LEASE. Welcome to Casitas Arenas, an intimate enclave in the highly sought-after south end of Palm Springs. Located just two blocks from downtown, this quiet, well-positioned community offers a rare blend of proximity and serenity, with minimal wind and no air traffic, an increasingly valuable distinction this close to the city's core. This 2-bedroom, 2-bath residence is a rare find: true single-level living with no upstairs neighbors, and a compelling opportunity to reimagine and elevate a space in a location that consistently commands attention. Offered at $425,000, the pricing reflects its renovation-ready condition. For context, the most recent comparable sale in the community closed on July 10th at $540,000, a unit whose renovation dates back more than a decade. Nearby amenities include theaters, dining, and coffee, with Palm Springs International Airport approximately five minutes away by car. The community features covered parking and a pool, and its location supports strong seasonal rental demand (30+ days), making it equally appealing as a personal retreat or investment. Residences in Casitas Arenas are rarely available. This is an opportunity to create a refined desert residence in one of Palm Springs' most desirable settings. HOA $495 per month.
No exterior & parking available.
Grades K-5 • 0.9 mi
Grades 6-8 • 1.6 mi
Grades K-12 • 1.1 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 2.0 | 2.0 |
| Baths | 2.0 | 2.0 |
| Square foot | 1,176 | 1,199 |
| Lot Size | - | 1,742 |
| Price | $425.0K | $445.8K |
| Price per sq ft | $361 | $351 |
| Built year | 1979 | 1980 |
| HOA | $486.0 | $587 |
| Days on market | 94 | 67 |
Apr 20, 2026
$425,000
Initial Listing