1111 E Palm Canyon Dr 340, Palm Springs, CA 92264 - View 1
1111 E Palm Canyon Dr 340, Palm Springs, CA 92264 - View 2
1111 E Palm Canyon Dr 340, Palm Springs, CA 92264 - View 3

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

Sale Price: $500,000
Jan 30, 2025590 sqft1 beds1 baths
Listed by: Roger Gendron
License #: 01968062
Phone #: 760-537-5277
Engel & Volkers Palm Desert
Source:
CRMLS Logo
MLS #: 25491835PS

Property Description

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! Ocotillo Lodge is a Class 1 Historic District in Palm Springs and as such this property may qualify for Mills Act Historic Status--see listing agent for details.
Assignment
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Kevin Kretzmer
Kevin Kretzmer

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“I specialize in helping clients find their dream home or next investment in California, focusing on residential and multi-family properties. My client-first approach, clear communication, and attention to detail ensure that everyone I work with receives exceptional service.”

TurboHome Fair Market Estimate

TurboHome

TurboHome Savings

$7,383

TurboHome Estimated Value

$501,100

$849 sqft

High Valuation
$526,155
$892/sqft
Normal Valuation
$501,100
$849/sqft
Low Valuation
$476,045
$807/sqft

3rd Party Estimates

Source$/sqftValuation
HouseCanary$849/sqft$501,100

Neighborhood: Ocotillo Lodge

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Comparative Value

$336K

$420K

$455K

$495K

$510K

1111 E Palm Canyon Dr 220, Palm Springs, CA 92264

Sale Price: $336,000

Selected Comparable

1111 E Palm Canyon Dr 348, Palm Springs, CA 92264

Sale Price: $420,000

Selected Comparable

1111 E Palm Canyon Dr 365, Palm Springs, CA 92264

Sale Price: $455,000

Selected Comparable

1111 E Palm Canyon Dr 345, Palm Springs, CA 92264

Sale Price: $495,000

Selected Comparable

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

Sale Price: $500,000

Selected Comparable

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

List Price: $510,000

Subject Property

Neighborhood Comps

Subject Property

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

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

List: $510,000

Listed: 1/30/2025

Area:590 sqft
Price/sqft:$864
Beds:1
Baths:1
Year Built:
Lot Size:645

Comparable Properties

COMPARABLE
Choose comps
1111 E Palm Canyon Dr 365, Palm Springs, CA 92264

1111 E Palm Canyon Dr 365, Palm Springs, CA 92264

Sale: $455,000

6/18/20250.00 mi

Area:610 sqft
Price/sqft:$746
Beds:1
Baths:1
Year Built:
Weight:20.7%
1111 E Palm Canyon Dr 340, Palm Springs, CA 92264

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

Sale: $500,000

4/2/20250.00 mi

Area:590 sqft
Price/sqft:$847
Beds:1
Baths:1
Year Built:
Weight:20.2%
1111 E Palm Canyon Dr 220, Palm Springs, CA 92264

1111 E Palm Canyon Dr 220, Palm Springs, CA 92264

Sale: $336,000

7/17/20250.00 mi

Area:525 sqft
Price/sqft:$640
Beds:1
Baths:1
Year Built:
Weight:19.9%
1111 E Palm Canyon Dr 345, Palm Springs, CA 92264

1111 E Palm Canyon Dr 345, Palm Springs, CA 92264

Sale: $495,000

1/17/20250.00 mi

Area:590 sqft
Price/sqft:$839
Beds:1
Baths:1
Year Built:
Weight:19.8%
1111 E Palm Canyon Dr 348, Palm Springs, CA 92264

1111 E Palm Canyon Dr 348, Palm Springs, CA 92264

Sale: $420,000

10/18/20240.00 mi

Area:590 sqft
Price/sqft:$712
Beds:1
Baths:1
Year Built:
Weight:19.4%

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