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$389,000

Beds
1
Baths
0.75
sq ft
525

1111 E Palm Canyon Dr Unit 118, Palm Springs, CA 92264

1111 E Palm Canyon Dr Unit 118

Palm Springs, CA 92264

  • 36 days on market
    • Price drop $6,000↓
Welcome to Ocotillo Lodge in Palm Springs! This iconic building was built by the Alexanders in 1957 and designed by architects William Krisel and Dan Palmer. The hotel was purchased in 1963 by Gene Autry and from 1968 to the 1990's Jerry Buss (owner of LA Lakers) was the owner and operator. The Ocotillo Lodge was converted to condos in 1995. This condo is on fee land (you own) in close proximity to downtown Palm Springs. The HOA includes community landscape, all utilities (electric, water), wi-fi,internet, trash, cable, pool/spas and clubhouse including gym. The pool is shaped like a champagne cork and there are plenty of lounge chairs and umbrellas to enjoy. Short term rentals allowed with permit from Palm Springs City.

Details

Property type

Condominium

Est. home value

$390,741

Property condition

Updated/Remodeled

Lot size

Unknown

Price per sq ft

$741

Year built

1995

Monthly HOA fee

$727

Price History

06/16/2024
DesertArea

DesertArea #219112082

Price change
$389,000
-1.52%
05/26/2024
DesertArea

DesertArea #219112082

Listed
$395,000
+33.9%
06/15/2021
CLAW

CLAW #21725282

Sold
$295,000
+90.32%

Schools & Community

Neighborhood: 

Twin Palms

Elementary school: 

Unknown

Middle school: 

Unknown

High school: 

Unknown

Community features: 

Pool, Gated

Negotiation Insights

Before you make an offer, understand who you are negotiating with so you can tailor your negotiation strategy to their situation.

Seller could get up to

$109,663
Asking price
$389,000
Closing costs (~8% of asking)
-$31,120
Est. remaining loan balance
-$248,217
Cash to seller
$109,663

This is an estimate of how much the seller could receive at closing after paying off the outstanding mortgage.

Seller’s Loan History

Lender

Franklin Loan Center

Loan start date

May 2021

Original loan amount

$265,500

Est. remaining balance

$248,217

Interest rate

3.13%

Loan type

New Conventional, 30 year

Seller

James Baugh and Asia Lee

Source: Public records data

If you're the owner, you can request to remove loan details. Email listingsupport@tomo.com

How insights can help you

Interest rate

If the seller has a low interest rate, they may be tempted to rent the property out if they can't get the price they have in mind.

Motivation

If the seller already got a job in a different city, they may feel pressure to sell quickly to free up cash for a new home.

Equity

If the seller stands to receive a large amount of cash when they sell the property, they might be willing to negotiate on the offer price.

Interested in learning more?

Status: Active

Tomo last checked: 07/01/2024 at 9:20 AM

Listing updated: 06/30/2024 at 12:04 AM

Listed by: Nadira Lee, Equity Union Phone #: (760) 621-0395

MLS: DesertArea #219112082

DesertArea logo

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