815 E Arenas Road, Palm Springs, California 92262, Palm Springs, 92262 - 2 bed, 2 bath
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Palm Springs, California 92262
This Renovation-Ready Condominium represents a strategic Asset Acquisition in the heart of Central Palm Springs, listed at $425,000. While the Fair Market Value is $316,804, the property’s position on highly desirable Fee Land with Mountain and Pool Views provides a secure foundation for long-term appreciation. Currently holding a Condition Rating of 5, the residence requires a full interior modernization to unlock its maximum ROI. Located near Palm Springs High School in a quiet enclave with minimal wind, this is a premier opportunity 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 | $269 | - |
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 1452 Tiffany` Circle N Sold | $400,000 | 2 | 2 | 1,251 | $320 | 0.5 mi |
D 222 N Calle El Segundo 543 Sold | $375,000 | 2 | 2 | 944 | $397 | 0.4 mi |
E 845 E Arenas Road Active | $499,000 List Price | 2 | 2 | 1,176 | $424 | 0.1 mi |
* Subject property listed price vs sold prices of comps.
Property is extensive renovation needed.
Built in 1979 (45 years old) and explicitly marketed as 'renovation-ready,' this property requires a full interior overhaul. The significant price discount compared to renovated units confirms that the kitchen, baths, and likely the original systems need a complete rehab to be competitive.
Situated on highly desirable Fee Land with no land lease, this property is located just two blocks from downtown Palm Springs, offering a rare combination of ownership security and exceptional walkability.
Priced at $425,000 with area comparables ranging from $499,000 to $575,000, this residence offers a substantial value-add opportunity for investors or buyers looking to build immediate sweat equity.
Located in a quiet south-end enclave, the property benefits from a protected position with minimal wind and no air traffic, providing a more serene environment than other parts of the city.
The property requires a full interior renovation to meet modern standards, which will necessitate immediate additional capital investment and project management from the buyer.
As a 1979 construction, the unit may require updates to older mechanical systems or structural elements that are common in buildings of this vintage.
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 $486 per month. More photos to follow.
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 | 1,130 | 53% |
| Lot Size | - | 436 | 46% |
| Price | $425.0K | $361.0K | 59% |
| Price per sq ft | $361 | $347 | 56% |
| Built year | 1979 | 1981 | 33% |
| HOA | $486.0 | $550 | 22% |
| Days on market | 2 | 182 | 1% |
Apr 20, 2026
$425,000
Initial Listing