Desert Holly, a Midcentury & Mid-priced Marvel in Palm Springs for <$500K
Who wants a white winter when you can soak up some sun in the trendy SoCal desert*. Check out this midcentury modern condo, Desert Holly, located at 2244 E Tahquitz Canyon Way #8 in sunny Palm Springs, California.
Desert Holly is revered by architecture buffs and midcentury enthusiasts alike. One of only four (4), two (2) bedroom units in the 14 unit complex, unit #8 is uniquely situated for privacy and incredible views. With remarkable attention to detail, this unit has been beautifully updated to reflect modern conveniences with complimenting the midcentury design.
The glass and clerestory windows provide magnificent sweeping views of the San Jacinto Mountains. Enjoy a fully updated kitchen with ample storage, gleaming quartz counters, and stainless steel appliances. The entire living space is open and bright. A custom vintage gas fireplace in the corner of the living area creates a cozy ambience which is enhanced by the views of the mountains. Beautiful terrazzo style porcelain tile is throughout the unit. In addition to the kitchen, both bathrooms have been stylishly updated. The patio has been reimagined with cedar dividers to provide each bedroom with a private patio. Between the two is a third section with an outdoor shower. All the mechanicals and appliances are newer.
Believe it or not, it’s pretty rare for a legitimate midcentury modern property- one that was built in 1950’s- to come on the market at a price this fair. We are featuring it because we believe it’s a triple threat: it would work well as primary residence for a retiree or someone that can work remotely; a second home to escape inclement weather (or people), or an investment property.
It’s just on the market for $499,000. See how much this will cost per month in the Cribline math analysis below:
Cribline Math Analysis:
With 20 percent down on $499,000 of $99,800, the mortgage amount would be $399,200. At an estimated 3.9 percent interest rate fixed for 30 years the gross payment would be about $2,500 per month which includes a modest HOA fee. If you were to rent out the home seasonally for a net $1,000 per month (this is a very conservative estimate of what you could bring in), that would reduce the gross payment to $1,500 per month. After tax deductions, the net payment would be about $1,200 per month. Not bad for celebrity style modernism in Palm Springs!
Happy New Year!
*It actually does snow in the mountains of Palm Springs which has played an integral role in the city receiving accolade after accolade on its award winning tap water.