815 E Arenas Road, Palm Springs, California 92262, Palm Springs, 92262 - 2 bed, 2 bath
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Palm Springs, California 92262
This Value-Add Residential Asset presents a High-Potential Investment Opportunity with a List Price of $425,000—positioned well below the $551,948 Fair Market Value by 23%. This valuation gap offers $126,948 in Instant Equity for buyers prepared to execute a renovation plan. Featuring a Condition Rating of 5 due to remediated water damage, the property boasts rare Fee Land ownership and a prime location two blocks from downtown. With Mountain Views, a community pool, and proximity to Palm Springs High School, this is a high-reward acquisition for Fix-and-Flip Investors or Contractors.
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 | $267 | - |
A 280 S Avenida Caballeros 223 Sold | $300,000 | 2 | 2 | 1,082 | $277 | 0.2 mi |
B 1456 Tiffany Circle N Sold | $430,000 | 2 | 2 | 1,251 | $344 | 0.5 mi |
C 222 N Calle El Segundo 543 Sold | $375,000 | 2 | 2 | 944 | $397 | 0.4 mi |
D 1452 Tiffany` Circle N Sold | $400,000 | 2 | 2 | 1,251 | $320 | 0.5 mi |
E 845 E Arenas Road Active | $475,000 List Price | 2 | 2 | 1,176 | $404 | 0.1 mi |
* Subject property listed price vs sold prices of comps.
Property is extensive renovation needed.
Built in 1979 (45 years old) and requires a full rehab. The property suffered significant water damage; the kitchen is currently non-functional and missing lower cabinetry and a sink, while flooring has been stripped in multiple rooms. It does not meet the criteria for 'Fair' as it is not move-in ready and requires major interior reconstruction.
Situated just two blocks from downtown Palm Springs in a quiet, low-wind area with no air traffic, offering a rare combination of serenity and immediate access to world-class dining and entertainment.
The property is located on Fee Land with no land lease, a highly sought-after status in Palm Springs that simplifies financing and enhances long-term investment security.
Priced significantly below comparable neighborhood sales ($499k-$575k), this residence provides a compelling opportunity for investors or homeowners to build immediate equity through renovation.
The unit requires a full kitchen restoration and new flooring throughout, as lower cabinets and carpeting were removed following water damage, necessitating immediate capital improvement.
Despite professional remediation and mold-free certification, the property’s history of multiple leaks may present challenges for traditional financing and requires thorough buyer due diligence.
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 presents 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, with comparable residences of similar size currently positioned between $499,000 and $575,000. 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 | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 2.0 | 2.0 | 50% |
| Baths | 2.0 | 2.0 | 50% |
| Square foot | 1,176 | 1,139 | 54% |
| Lot Size | - | 436 | 45% |
| Price | $425.0K | $362.0K | 58% |
| Price per sq ft | $361 | $345 | 55% |
| Built year | 1979 | 1981 | 31% |
| HOA | $486.0 | $550 | 19% |
| Days on market | 48 | 160 | 3% |
Apr 20, 2026
$425,000
Initial Listing