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620 S Camino Real, Palm Springs, California 92264, Palm Springs, 92264 - 5 bed, 4 bath

620 S Camino Real, Palm Springs, California 92264 home-pic-0
ACTIVE$1,400,000
620 S Camino Real, Palm Springs, California 92264
5Beds
4Baths
2,115Sqft
10,018Lot

Price Vs. Estimate

The estimated value ($853,242.1) is $546,757.9 (39%) lower than the list price ($1,400,000). This property may be overpriced.

Key pros and cons

Top Pros:
High Available Lot Utilization: The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 10018, living area = 2115.
Top Cons:
Significant Price Discrepancy: The listing price is substantially higher than the property's estimated market value (estimation ratio -39%), which could indicate overpricing and potentially deter buyers or prolong the sale process.

Compared to the nearby listings

Price:$1.40M vs avg $1.28M (+$118,000)55%
Size:2,115 sqft vs avg 2,172.5 sqft47%
Price/sqft:$662 vs avg $59764%

More Insights

Built in 1938 (87 years old).
Condition: Despite being built in 1938, the property has undergone extensive and recent renovations, as evidenced by the 'new open-concept kitchen' and 'updated bathrooms' mentioned in the description. The images confirm a modern, high-quality kitchen with stainless steel appliances, contemporary countertops, stylish backsplash, and modern lighting. The flooring throughout is consistent terracotta-style tile, which is clean and well-maintained. Modern light fixtures, ceiling fans, and smart home features (keyless entry, smart thermostats, Tesla charger) further indicate a property that has been brought up to current quality standards with virtually new components and no deferred maintenance.
Year Built
1938
Close
-
List price
$1.4M
Original List price
$1.45M
Price/Sqft
$662
HOA
-
Days on market
-
Sold On
-
MLS number
219120280PS
Home ConditionExcellent
Features
Excellent View: Mountain(s)
Pool
Spa
Patio
ViewMountain(s)

About this home

Welcome to this stunning five bedroom, four bathroom Spanish-style home in the Warm Sands neighborhood of Palm Springs that perfectly blends 1938 charm with modern luxuries. This fully gated property boasts breathtaking views of the San Jacinto Mountains, and includes 2,000 SF of luxurious living space, a new open-concept kitchen, updated bathrooms and a spacious living area that features the original 1938 fireplace. The bedrooms feature a combination of beautiful pitched ceilings, easy access to the outdoor areas, and the fifth bedroom is an attached private casita with ensuite bathroom. The resort-style backyard features a PebbleTec salt water pool & spa, lounge areas, fire pit, and a gas grill, all with stunning mountain views. Additionally, this property boasts numerous smart home features such as keyless entry, smart thermostats, and a Tesla wall charger. This luxurious Spanish-style home is the perfect blend of charm, comfort, and modern amenities, making it ideal for a primary home, a secondary home, or even a short term rental. This home currently has an active STR permit with good rental history and numerous future bookings. The Warm Sands neighborhood is currently under the STR permit cap. Reach out for more information or if you'd like to schedule a private tour.

Nearby schools

4/10
Cahuilla Elementary School
Public,•K-5•0.4mi
4/10
Raymond Cree Middle School
Public,•6-8•2.2mi
4/10
Desert Learning Academy
Public,•K-12•1.0mi
6/10
Palm Springs High School
Public,•9-12•1.2mi
Condition Rating
Excellent
Despite being built in 1938, the property has undergone extensive and recent renovations, as evidenced by the 'new open-concept kitchen' and 'updated bathrooms' mentioned in the description. The images confirm a modern, high-quality kitchen with stainless steel appliances, contemporary countertops, stylish backsplash, and modern lighting. The flooring throughout is consistent terracotta-style tile, which is clean and well-maintained. Modern light fixtures, ceiling fans, and smart home features (keyless entry, smart thermostats, Tesla charger) further indicate a property that has been brought up to current quality standards with virtually new components and no deferred maintenance.
Pros & Cons

Pros

High Available Lot Utilization: The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 10018, living area = 2115.
Strong Income Potential: The property boasts an active Short-Term Rental (STR) permit with good rental history and numerous future bookings, located in a neighborhood currently under the STR permit cap, making it a highly attractive investment opportunity.
Blended Charm & Modern Luxury: Successfully combines the original 1938 Spanish-style charm with significant modern updates, including a new open-concept kitchen and updated bathrooms, offering a unique aesthetic.
Exceptional Outdoor Amenities: Features a resort-style backyard with a PebbleTec salt water pool & spa, lounge areas, fire pit, and a gas grill, all complemented by stunning San Jacinto Mountain views, ideal for entertainment and relaxation.
Integrated Smart Home Technology: Equipped with modern conveniences such as keyless entry, smart thermostats, and a Tesla wall charger, enhancing comfort, security, and energy efficiency for residents or guests.
Versatile Casita: Includes an attached private casita with an ensuite bathroom, providing flexible living arrangements for guests, extended family, or potential for additional rental income.

Cons

Significant Price Discrepancy: The listing price is substantially higher than the property's estimated market value (estimation ratio -39%), which could indicate overpricing and potentially deter buyers or prolong the sale process.
Potential for Age-Related Systems/Maintenance: Despite modern updates, the 1938 construction year may imply older underlying infrastructure (e.g., plumbing, electrical outside of smart home features) that could require future attention or maintenance.
Compact Interior Space for Bedroom Count: With 5 bedrooms in 2115 sqft, individual bedroom sizes or common areas might feel relatively constrained for some buyers seeking more expansive living spaces.

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