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$510,000

Beds
1
Baths
1.0
sq ft
590

1111 E Palm Canyon Dr Unit 340, Palm Springs, CA 92264

1111 E Palm Canyon Dr Unit 340

Palm Springs, CA 92264

  • <1 day on market
    • Open house Feb 01
Welcome to the Ocotillo Lodge Unit #340, a Historic Palm Springs Gem. Nestled in the iconic Twin Palms neighborhood, the Ocotillo Lodge was built in 1957 by renowned architects William Krisel & Dan Palmer and has a rich history of attracting celebrity guests. Originally a hotel, it was converted into condos in 1995, but its timeless charm and mid-century modern style remain intact. Recently undergoing a major renovation, this stunning condo boasts modern upgrades while retaining its historic charm. Located in the back of the complex with an east-facing patio, enjoy quiet mornings with views of the San Jacinto Mountains. The unit is newly furnished with a Mid-Century-inspired interior, channeling the vibrant Palm Springs vibe, and includes everything you need to live in comfort, from kitchenware and small appliances to bedding, decor, and artwork. Key Features: Fully furnished, with all necessary household items (except for staging pieces); Completely remodeled, including a new HVAC system; A sofa sleeper for added comfort and versatility; Full-sized washer and dryer; Monthly HOA dues cover ALL utilities: electricity, water, hot water, trash, sewage, cable TV, and internet; Located in a historic district, eligible for the Mills Act, offering potential property tax savings. The complex completed an extensive refurbishment and renovation within the last few years to preserve the original character of the architecture. Amenities include a champagne cork-shaped pool, two hot tubs, a clubhouse with pool tables, a community gym, and an outdoor Sunshine Bar with a built-in grill perfect for entertaining or enjoying a sunset cocktail. The historic significance of the Ocotillo Lodge, combined with its prime location near shops, restaurants, and entertainment, makes it a rare and sought-after property in Palm Springs. This condo has been a highly rated short-term rental (STR), receiving 100% 5-star ratings since it began renting in May 2024. Whether you're looking to immerse yourself in the desert resort lifestyle or make a smart investment, this property offers both a unique living experience and great potential. Don't miss your chance to be a part of Palm Springs history!

Details

Property type

Condominium

Est. home value

$424,135

Lot size

Unknown

Price per sq ft

$865

Year built

1957

Monthly HOA fee

$836.11

Price History

01/30/2025
CLAW

CLAW #25491835PS

Listed
$510,000
+18.6%
10/07/2022
CRMLS

CRMLS #SW22194668

Sold
$430,000

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

$157,597
Asking price
$510,000
Closing costs (~8% of asking)
-$40,800
Est. remaining loan balance
-$311,603
Cash to seller
$157,597

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

Seller’s Loan History

Lender

Guild Mortgage Co

Loan start date

September 2022

Original loan amount

$322,500

Est. remaining balance

$311,603

Interest rate

5.3%

Loan type

New Conventional, 30 year

Seller

Kelly L Mccune

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: 01/30/2025 at 6:05 PM

Listing updated: 01/30/2025 at 1:25 PM

Listed by: Roger Gendron, Engel & Volkers Palm Desert Phone #: (760) 453-0072

MLS: CLAW #25491835PS

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