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5301 E Waverly Drive 222, Palm Springs, California 92264, Palm Springs, 92264 - 2 bed, 2 bath

5301 E Waverly Drive 222, Palm Springs, California 92264 home-pic-0
ACTIVE$309,000
5301 E Waverly Drive 222, Palm Springs, California 92264
2Beds
2Baths
979Sqft
1,307Lot

Price Vs. Estimate

Estimation data not available

Key pros and cons

Top Pros:
Exceptional Investment Opportunity: The property is turnkey, fully furnished, on fee land, and explicitly short-term rental friendly with a 5-day minimum, making it highly attractive for investors seeking immediate income potential.
Top Cons:
Higher HOA Fees: The monthly association fee of $506.0 is substantial and could impact the overall cost of ownership or reduce net investment returns.

Compared to the nearby listings

Price:$309.0K vs avg $439.4K ($-130,450)12%
Size:979 sqft vs avg 1,307 sqft16%
Price/sqft:$316 vs avg $33837%

More Insights

Built in 1979 (46 years old).
Condition: Built in 1979, the property is well-maintained and move-in ready, with a recently updated bathroom featuring modern fixtures and finishes. However, the kitchen, despite a newer backsplash, retains dated tiled countertops, older white appliances (including a coil-top stove), and a fluorescent ceiling light, indicating it would require significant updates to meet current aesthetic standards. Other elements like mirrored closet doors also show the property's age. While functional, the kitchen's condition prevents a 'Good' rating, placing the overall property in the 'Fair' category as it shows signs of being outdated in key areas.
Year Built
1979
Close
-
List price
$309K
Original List price
$329K
Price/Sqft
$316
HOA
$506
Days on market
-
Sold On
-
MLS number
219126485DA
Home ConditionFair
Features
Pool
Spa
Patio
View-

About this home

Turnkey, Fully Furnished, Fee Land, and Short-Term Rental friendly Unit #222 at 5301 E Waverly Drive checks the boxes investors seek in South Palm Springs. This updated, top-floor, 2-bedroom, 2-bath condo offers 979 sq ft of private, comfortable space. The bright kitchen and updated baths, make for a wonderful desert getaway, and the secondary bedroom's two-bed setup increases guest capacity. The sunlit patio with gas BBQ, enhances renter appeal. In-unit laundry, nearby carport parking, and on-site resort amenities--four pools, four spas, and four tennis courts--help drive bookings and reviews. The HOA permits short-term rentals with a 5-day minimum, aligning with demand for extended weekends and week-long stays. Proximity to a 36-hole golf destination, shopping centers, casual dining, and trail access supports year-round occupancy. Walking distance from Trader Joe's, Target, Vons and Starbucks. This is an excellent option for both a primary residence or an investment property. Don'tmiss this chance at a rare jewel of the wonderful Palm Springs lifestyle!

Nearby schools

4/10
Cahuilla Elementary School
Public,•K-5•3.2mi
4/10
Raymond Cree Middle School
Public,•6-8•4.6mi
4/10
Desert Learning Academy
Public,•K-12•2.6mi
6/10
Palm Springs High School
Public,•9-12•2.6mi
Condition Rating
Fair
Built in 1979, the property is well-maintained and move-in ready, with a recently updated bathroom featuring modern fixtures and finishes. However, the kitchen, despite a newer backsplash, retains dated tiled countertops, older white appliances (including a coil-top stove), and a fluorescent ceiling light, indicating it would require significant updates to meet current aesthetic standards. Other elements like mirrored closet doors also show the property's age. While functional, the kitchen's condition prevents a 'Good' rating, placing the overall property in the 'Fair' category as it shows signs of being outdated in key areas.
Pros & Cons

Pros

Exceptional Investment Opportunity: The property is turnkey, fully furnished, on fee land, and explicitly short-term rental friendly with a 5-day minimum, making it highly attractive for investors seeking immediate income potential.
Prime Walkable Location: Located within walking distance to major retailers like Trader Joe's, Target, Vons, and Starbucks, and close to golf, dining, and trails, ensuring high demand for both residents and renters.
Extensive Resort Amenities: Access to four pools, four spas, and four tennis courts on-site provides a resort-like experience, significantly boosting lifestyle appeal and rental attractiveness.
Updated Interior & Practical Features: The condo boasts a bright kitchen, updated baths, in-unit laundry, and a sunlit patio with a gas BBQ, offering modern comfort and essential conveniences.
Flexible Use & Guest Capacity: Suitable for both a primary residence or an investment property, with a secondary bedroom featuring a two-bed setup to maximize guest capacity for rentals.

Cons

Higher HOA Fees: The monthly association fee of $506.0 is substantial and could impact the overall cost of ownership or reduce net investment returns.
Building Age: Built in 1979, the property's age, despite interior updates, may suggest potential for older common area infrastructure or future maintenance assessments.
Compact Living Space: With 979 sq ft, the unit offers a relatively small footprint, which might not appeal to buyers or renters seeking more expansive living accommodations.

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