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72817 Skyward Way, Palm Desert, California 92260, Palm Desert, 92260 - 3 bed, 2 bath

72817 Skyward Way, Palm Desert, California 92260 home-pic-0
ACTIVE$800,000
72817 Skyward Way, Palm Desert, California 92260
3Beds
2Baths
1,840Sqft
9,583Lot
Year Built
1978
Close
-
List price
$800K
Original List price
$800K
Price/Sqft
$435
HOA
-
Days on market
-
Sold On
-
MLS number
219129715PS
Home ConditionPoor
Features
Good View: Mountain(s)
Pool
Spa
Patio
ViewMountain(s)

About this home

Possibly Over-Priced:The estimated price is 18% below the list price. We found 3 Cons,5 Pros. Rank: price - $800.0K(49th), sqft - 1840(33th), beds - 3(50th), baths - 2(38th).

Investor Special or Custom Dream Home Opportunity in South Palm Desert! This exceptional property offers city-approved plans for an approximately 3,000 sq. ft. custom home with the added flexibility to include a detached ADU--ideal for guests, a private office, or rental income. The existing structure has been taken down to the studs, providing a blank canvas ready for transformation. A professionally installed pool and spa are already in place, saving both time and cost. Located in a highly sought-after neighborhood just minutes from El Paseo and steps from Ironwood Park, the property offers close proximity to world-class shopping, dining, hiking trails, and top-rated schools. Whether you're an investor looking to build or a buyer ready to create your dream desert home, this rare opportunity presents significant value and potential.

Price History

Date
Event
Price
05/07/25
Listing
$800,000
Condition Rating
Poor
The property description explicitly states that the 'existing structure has been taken down to the studs, providing a blank canvas ready for transformation.' This means the property is currently a gutted shell, not habitable, and requires substantial rehabilitation and construction to become a functional home. The images provided are renderings of the proposed future state, not the current condition of the interior.
Pros & Cons

Pros

Development Potential: The property comes with city-approved plans for an approximately 3,000 sq. ft. custom home and the flexibility to add a detached ADU, offering significant value-add and income potential.
Prime Location: Situated in a highly sought-after South Palm Desert neighborhood, it offers exceptional proximity to El Paseo, Ironwood Park, world-class shopping, dining, hiking trails, and top-rated schools.
Existing Amenities: A professionally installed pool and spa are already in place, providing a head start on outdoor living amenities and saving considerable time and cost for the future homeowner or investor.
Blank Canvas Opportunity: The existing structure has been taken down to the studs, presenting a true blank canvas for complete customization and modern design without the initial demolition expenses.
Mountain Views: The property boasts desirable mountain views, enhancing its aesthetic appeal and contributing to a premium desert living experience.

Cons

Significant Price Discrepancy: The current listing price of $800,000 is substantially higher than the estimated property value of $509,648.18, suggesting a potential overvaluation based on its current 'down to studs' condition.
Extensive Construction Required: As a 'down to studs' property, it requires a complete build-out, demanding significant additional investment, time, and project management from the buyer to realize its full potential.
High Upfront Investment Beyond Purchase: Beyond the purchase price, buyers must factor in substantial construction costs, which may deter those seeking a less intensive project or a quicker return on investment.

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