1635 Palm Tree Drive, Palm Springs, CA 92264 (MLS # 25502843PS)

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PRICE $1,549,000 BEDS 4 BATHS 4 HOME SIZE 3,743 sqft LOT SIZE 15,246 sqft Request More Info Schedule a Showing

MAJOR Price Adjustment! Built in 1956, this 4 bedroom, 4 (ensuite) baths, extra large Mid-Century home is teeming with iconic Mid-Century architectural features, including Post and beam construction clerestory windows, a floating Terrazzo gas fireplace and a sunken bar. This home has an open living room, dining room and a family/TV room area. The kitchen is separate. This beautiful home sits on an oversized lot, one of the largest in Deepwell Estates, lush with sub tropical and drought resistance plants and a nest of over 30 Palm Tree types which thrive in the desert climate. Side yard boasts a citrus orchard with Meyer lemon, lemon, orange and blood orange trees. The attached Casita has a its own entrance and a kitchenette. Great for guests or for rental income. This home needs some renovation, however the roof and pool are newer and some plumbing and electrical have been addressed. This one-of-a-kind property is ready for you to make your own personal oasis in our magical desert. There are stunning panoramic views located in the heart of Deepwell Estates, sunsets and mountains can be viewed from virtually every room, including the Primary shower. Interior features include a large Primary suite with 2 huge walk in closets/dressing rooms (home is believed to have been built by a Radio City Rockette) and direct access to the pool area. There is fantastic separation of the Primary suite from the other bedrooms and the Casita. Great for those seeking privacy in a large home. The galley kitchen has a brick wall with an original built in brick oven, another mid century relic. There are 2 dining areas, including a breakfast nook with corner bench seats. The yard has many rare and exotic palm trees that are easy to maintain and documented by the Sellers. This home has Vacation Rental (STR) income potential as Deepwell Estates has an approximate 12% VR rate (subject to change, the cap rate for PS is 20%, so there is still room to begin the STR process with the City). Palm Tree is quiet, yet close to everything. Deepwell Estates is a long established and very desirable neighborhood with lots of mature trees and history, a historic and star studded neighborhood, many celebrities have called Deepwell Estates home over the years. It is a huge attraction during Modernism Week, featuring major tours. There is a wonderful, vibrant neighborhood organization known as DENO that has events throughout the year. While Palm Springs can be windy no matter where the location, Deepwell Estates is known as one of the least windy areas, surrounded by mountains on 3 sides. The owners have loved living in this home. There are approximately 3 years left on the Solar Lease, fully assumable, which has 39 panels, electricity is sold back to the Homeowner at a much lower rate then SCE. Buyer to verify all information, including but not limited to: square footage (which came from a recent Appraisal), all systems including the solar lease, schools, septic/sewer systems, alarm, vacation rental compliance, etc. Cameras are in use at the property. Please see Homeowner's statement attached.