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$718,000

Beds
4
Baths
2.0
sq ft
1,318

485 W Tramview Rd, Palm Springs, CA 92262

485 W Tramview Rd

Palm Springs, CA 92262

  • 48 days on market
    • Price drop $30,000↓
Welcome to 485 West Tramview! Located across from a newly renovated grassy park, in the rising neighborhood of Desert Highland, this property is a stand out for any portfolio. Short term rental projections for this one are just north of 100k+ annually and Desert Highland is one of the only neighborhoods left in Palm Springs with short term rental permits still available. Not only does 485 Tramview boost incredible income generating potential, it also lies within an area with active luxury development that is seemingly growing every day. Situated just west of the Miralon project, a masterplan community sure to bring an incredible amount of attention, desire and growth to the area. Enter through the manicured desertscaped front yard to an open floor plan with designer touches throughout. Flooded with natural bright light, this 4 bedroom 2 bath pool home comes fully furnished, it's a plug and play for any short term investor or permanent resident. Fully remodeled from top to bottom and sitting on an oversized 7400 sq foot lot with mountain and windmill views. Complete with recently installed dual paned, energy efficient windows, a top of the line and well maintained HVAC system, designer bathrooms and an ultra bright chefs kitchen with views of the well thought out outdoor space including a brand new pool and spa. This one checks all the boxes; short term rental permits available, substantial income generating potential, turnkey, furnished, fully remodeled, 4 bedrooms to maximize the investment, a stunning pool and spa, oversize lot perfect for entertaining, Ice cold HVAC system, located within a promising part of town that is currently seeing tremendous growth. 485 Tramview is a winner and it's my pleasure to bring it to market!

Details

Property type

Single Family Residence

Est. home value

$889,247

Property condition

Updated/Remodeled

Lot size

7,405 sq ft

Price per sq ft

$545

Year built

1991

Price History

08/30/2024
CRMLS

CRMLS #SB24155067

Price change
$718,000
-4.01%
07/30/2024
CRMLS

CRMLS #SB24155067

Listed
$748,000
-16.8%
03/16/2024
CRMLS

CRMLS #OC23173817

Removed
$899,000

Schools & Community

Neighborhood: 

Desert Highland/Gateway

Elementary school: 

Unknown

Middle school: 

Unknown

High school: 

Unknown

Community features: 

Suburban

High school district: 

Palm Springs Unified

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

-$5,844
Asking price
$718,000
Closing costs (~8% of asking)
-$57,440
Est. remaining loan balance
-$666,404
Cash to seller
-$5,844

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

Seller’s Loan History

Lender

Homexpress Mortgage Corp

Loan start date

August 2023

Original loan amount

$673,500

Est. remaining balance

$666,404

Interest rate

6.81%

Loan type

New Conventional, 30 year

Seller

Jonathan Demian

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?

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Status: Active

Tomo last checked: 09/16/2024 at 12:15 PM

Listing updated: 08/30/2024 at 9:35 AM

Listed by: John (Jack) Mangin, Palm Realty Boutique, Inc. Phone #: (310) 702-6999

MLS: CRMLS #SB24155067

CRMLS logo