Property Detail

Description

130 W Racquet Club Road #511. a cosmetic fixer:Financial & Investment HighlightsValue Play: Listed at $575,000, which sits significantly below the recent comparable sales of $720k-$725k for the same floor plan.Rental Flexibility: Unlike many Palm Springs communities, this complex has no 30-day minimum rental requirement, making it a prime candidate for short-term rental income.Make sure to check with the city on permit availability.Ownership: You own the land (Fee Simple), meaning there are no land lease payments to worry about.HOA Coverage: The monthly dues include essential maintenance like water, trash, roof, exterior painting, and community landscaping.Property Features:Modern Bones: High 10ft ceilings with updated double-pane windows and a ''newish'' HVAC system and water heater reduce the immediate need for major mechanical capital expenditures.Private Amenities: This unit stands out with a private pool, west-facing backyard, and outdoor fireplace, plus three separate patios.Layout & Access: A 2-bedroom, 2-bath configuration. Uniquely, this is one of only two units with an entrance outside the main gates, offering easier access for guests.The ''Cosmetic Fixer'' Opportunity:Since the bathrooms, kitchen, and major systems are already somewhat updated or ''newish,'' the ''fixer'' aspect refers to flooring, paint, landscaping and a few HOA mandated corrections. With the spread between the asking price and recent comps, there is substantial room for equity growth or profit after a light renovation.