845 W Gateway Drive, Palm Springs, California 92262, Palm Springs, 92262 - 4 bed, 2 bath

845 W Gateway Drive, Palm Springs, California 92262 home-pic-0
ACTIVE$699,000
845 W Gateway Drive, Palm Springs, California 92262
4Beds
2Baths
1,248Sqft
11,326Lot

Price Vs. Estimate

The estimated value ($674,994.305) is $24,005.695 (3%) lower than the list price ($699,000). This property may be overpriced.

Key pros and cons

Top Pros:
Renovated Mid-Century Modern: The property is a beautifully renovated Mid-Century Modern home, blending vintage charm with modern luxury, appealing to a wide range of buyers.
Top Cons:
Smaller Square Footage: The property's square footage (1248 sqft) might be considered small for a 4-bedroom home, potentially limiting appeal to larger families.

Compared to the nearby listings

Price:$699.0K vs avg $925.0K ($-226,000)21%
Size:1,248 sqft vs avg 2,096 sqft5%
Price/sqft:$560 vs avg $49163%

More Insights

Built in 1960 (65 years old).
Condition: The property, built in 1960, has been renovated. The listing mentions and images confirm new flooring, updated kitchen with new LG appliances, and updated bathrooms. The pool and landscaping are also new. While not brand new construction, the extensive renovations bring it to a 'good' condition, move-in ready with no immediate renovation required.
Year Built
1960
Close
-
List price
$699K
Original List price
$699K
Price/Sqft
$560
HOA
-
Days on market
-
Sold On
-
MLS number
SB25147031
Home ConditionGood
Features
Good View: Mountain(s)
Pool
Spa
Patio
ViewMountain(s)

About this home

Just Reduced! Discover your dream desert oasis at 845 Gateway, ideally located just off Palm Canyon Drive. This beautifully renovated 4-bedroom, 2-bathroom Mid-Century Modern home sits on a spacious corner lot with breathtaking mountain views, offering the perfect blend of vintage charm and modern luxury. Every inch of this home has been thoughtfully renovated, reimagined for comfort, style, and functionality. Significant improvements include brand-new flooring throughout, all-new plumbing, and a fully updated kitchen and bathrooms. The kitchen features brand-new LG appliances. You will love entertaining in this open floor plan. Outside, your private resort-style yard features a brand-new Pebble Tec pool and spa, all controlled by your phone. The professionally landscaped grounds are enclosed by new fencing and a fully gated perimeter, creating a secluded haven perfect for lounging, entertaining, or enjoying starlit evenings. Large lot allows for a pickleball court or Casita. Located in the Gateway community, this property sits on fee simple land (you own it!), with no HOA and has eligibility for short-term vacation rental permits. Similar homes in the area generate over $100,000 annually from STR income, making this home not only a stunning personal retreat but a smart investment opportunity. Best of all, it's positioned outside of the flight path and just minutes from downtown Palm Springs, the Aerial Tramway, golf, hiking, restaurants, and shopping. Whether you're looking for a full-time residence, a weekend getaway, or a high-performing vacation rental, this turnkey Mid-Century gem offers everything you need—and more. Don’t miss your chance to own this iconic piece of Palm Springs with modern upgrades, mountain views, and unmatched rental potential. This home qualifies for no and low down home buyers assistance programs. Ask for details!

Nearby schools

7/10
Katherine Finchy Elementary School
Public,K-52.0mi
4/10
Cahuilla Elementary School
Public,K-53.9mi
4/10
Raymond Cree Middle School
Public,6-81.8mi
6/10
Palm Springs High School
Public,9-123.8mi
4/10
Desert Learning Academy
Public,K-123.9mi
Condition Rating
Good

The property, built in 1960, has been renovated. The listing mentions and images confirm new flooring, updated kitchen with new LG appliances, and updated bathrooms. The pool and landscaping are also new. While not brand new construction, the extensive renovations bring it to a 'good' condition, move-in ready with no immediate renovation required.
Pros & Cons

Pros

Renovated Mid-Century Modern: The property is a beautifully renovated Mid-Century Modern home, blending vintage charm with modern luxury, appealing to a wide range of buyers.
Resort-Style Backyard: Features a brand-new Pebble Tec pool and spa, professionally landscaped grounds, and new fencing, creating a private and desirable outdoor space.
Short-Term Rental Potential: Located on fee simple land with no HOA and eligibility for short-term vacation rental permits, offering significant income potential (over $100,000 annually).
Prime Location: Ideally located just off Palm Canyon Drive, minutes from downtown Palm Springs, the Aerial Tramway, golf, hiking, restaurants, and shopping.
Mountain Views: Breathtaking mountain views enhance the property's appeal and provide a desirable desert living experience.

Cons

Smaller Square Footage: The property's square footage (1248 sqft) might be considered small for a 4-bedroom home, potentially limiting appeal to larger families.
Year Built: Built in 1960, some buyers may be concerned about potential maintenance issues associated with an older home, despite renovations.
Limited Interior Space: While renovated, the original layout of a 1960s home might not offer the open-concept living that is highly desired by today's buyers.

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