RealKey
‪(213) 433-7766‬

255 S Avenida Caballeros 111, Palm Springs, California 92262, Palm Springs, 92262 - 2 bed, 2 bath

255 S Avenida Caballeros 111, Palm Springs, California 92262 home-pic-0
ACTIVE$295,000
255 S Avenida Caballeros 111, Palm Springs, California 92262
2Beds
2Baths
1,096Sqft
Lot
Year Built
1989
Close
-
List price
$295K
Original List price
$375K
Price/Sqft
$269
HOA
$577
Days on market
-
Sold On
-
MLS number
219116581DA
Home ConditionGood
Features
Good View: Mountain(s)
Patio
ViewMountain(s)

About this home

We found 3 Cons,5 Pros. Rank: price - $295.0K(41th), sqft - 1096(53th), beds - 2(50th), baths - 2(50th).

Ground floor end unit in sought after smaller community located a few blocks from the active downtown area. This architecturally significant complex designed by Hugh M. Kaptur, results in a great investment. Make it your primary home or weekend getaway. Seasonal 30-day minimum rentals are also a possibility. Enjoy the large community pool and spa, racquetball court, tennis/pickleball court, meeting room, and dog release area. The unit is conventionally located to the pool, parking, and community gate. The kitchen has updated counter, appliances, and lighting. Large living room/dining area with patio access and view. Both bedrooms are spacious and the bathrooms are upgraded.The patio also has a full-sized laundry room and a pedestrian gate for easy access to your assigned carport parking spot. Take advantage of being able to quickly make your way downtown and enjoy restaurants, shopping, theatre, casino, and activities. The airport is just a few minutes away. HOA dues of $520 includes: earthquakes insurance, water, sewer, trash. Land lease runs to year 2080 at $305 a month(paid quarterly).

Nearby schools

4/10
Cahuilla Elementary School
Public,•K-5•0.9mi
4/10
Raymond Cree Middle School
Public,•6-8•1.6mi
4/10
Desert Learning Academy
Public,•K-12•1.0mi
6/10
Palm Springs High School
Public,•9-12•1.1mi

Price History

Date
Event
Price
11/25/25
Price Change
$295,000-7.7%
07/31/25
$319,500
09/12/24
$375,000
Condition Rating
Good
The property, built in 1989, features a recently updated kitchen with modern stainless steel appliances, contemporary white cabinetry, granite/quartz countertops, and a stylish herringbone tile backsplash, along with recessed lighting. The bathrooms have also been upgraded with granite countertops, undermount sinks, updated vanities, and modern lighting. These key areas are move-in ready and align with current quality standards. However, the main living area still retains an older, somewhat worn green/grey carpet, preventing an 'Excellent' rating. Overall, the property is well-maintained with significant recent updates to critical areas.
Pros & Cons

Pros

Prime Downtown Location: The property is a ground-floor end unit located just a few blocks from the active downtown area of Palm Springs, offering convenient access to restaurants, shopping, entertainment, and the airport.
Architectural Significance: The complex was designed by renowned architect Hugh M. Kaptur, adding a unique aesthetic and potential investment value to the property.
Extensive Community Amenities: Residents have access to a large community pool and spa, racquetball court, tennis/pickleball court, meeting room, and a dog release area, enhancing lifestyle and recreational options.
Rental Income Potential: The property allows for seasonal 30-day minimum rentals, providing flexibility for owners to generate income when not using the unit.
Updated Interior & Convenient Features: The unit features an updated kitchen with new counters, appliances, and lighting, upgraded bathrooms, a full-sized laundry room on the patio, and a pedestrian gate for easy access to assigned carport parking.

Cons

Land Lease Structure: The property is on leased land with a finite term expiring in 2080, which can impact financing options, long-term appreciation, and requires careful consideration of future lease renewal terms.
High Monthly Carrying Costs: The combined monthly expenses of HOA dues ($520) and the land lease fee ($305) total $825, representing a significant recurring cost for ownership.
Future Lease Uncertainty: As the land lease approaches its expiration in 2080, potential future lease negotiations or renewal terms could introduce uncertainty regarding costs and property rights.

Best solution for experienced home buyers!

Data-driven home buying experience with our licensed real estate agents and cutting-edge AI

Browse Properties by State Browse housing market trends by state