ActiveResidential · sale

2350 S Araby Drive

Palm Springs, CA 92264

$2,395,000

  • 3 beds
  • 3 baths
  • 2,500 sq ft
  • 0.64 acres
  • Built 1926

Listed by Allison James Estates & Homes · MLS #219145241DA

A FEW THINGS TO NOTICE

What stands out.

Year built

Built in 1926.

Property size

0.64 acres listed.

Highlights from the listing description and property details. Confirm features with the listing agent.

THE PROPERTY

Get to know the property.

If you are looking to own a piece of history without sacrificing modern amenities look now further This iconic desert retreat has a class one historical designation Know as the Giannini residence the original owners and founders of Bank of America made this their desert retreat nestled higher up in Araby Cove Araby cove is one of the first and oldest subdivisions in South Palm Springs The home was constructed with board formed poured in place concrete and finely cut locally quarried stone over the concrete walls which is reminiscent of the craftsmanship from the 1880s1930s era The property also features a basement and bank type vault which could be a nice wine cellar The basement stays at a cool temperature naturally through the year and has added AC in case you would like it even cooler A large Albert Frey deck serves as a star and view gazing platform as well as a shade for the cars underneath This could be a huge party space as well Enter up a grand stair way to a stone porch The porch is naturally cool being surrounded by rock and the orientation from the sun The views from the front of the home are incredible and expansive Enter the home thru old French doors and you are greeted with a huge original rock fireplace The living room flows nicely into an office nook then into a gourmet kitchen butler pantry and coffee bar and breakfast nook This all opens up to the lovely outdoor space surrounded by patios a kidney shaped pool spa and top of the line desert scape There are outstanding views from each of the homes outside and inside viewing areas Back inside the home we will find a large formal dining room to accompany your chefs kitchen There is one guest bedroom and a den serviced by a jack and jill bath The second bath on that side also able to serve the entertaining and dining areas The other side of the home offers the primary suite with a large bath and sitting area Also on that side is the second guest bedroom This home has changed hands less than a handful of time in a 100 years This is a a once in a lifetime opportunity to own a piece of history The current owner has installed a very expensive and extensive HVAC system added a whole house water softening system added new insulation updated appliances serviced the septic system updated wiring and so much more The home is ready for your upmost enjoyment and trouble free living

THE NEIGHBORHOOD

Explore the location.

2350 S Araby Drive, Palm Springs, CA 92264

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THE DETAILS

The details, all in one place.

Property type
Residential
Category
Residential
Year built
1926
Full baths
3
Half baths
0
Garage spaces
0
Cooling
CentralAir
Heating
Central
Flooring
Carpet,Laminate,Tile
Pool
Yes
Pool features
Community,InGround
Spa
No
Subdivision
Araby
Parcel
510241037

Features and school information are supplied by the listing source. Confirm measurements, school assignments, HOA terms and rental restrictions before making a decision.

OWNERSHIP, WITH A PLAN

Investor outlook.

Explore this property’s rental potential with an all-cash purchase. Monthly rent starts at 5% of the purchase price per year, divided by 12. Adjust it and the other assumptions to explore your scenario.

These are planning assumptions, not a rental appraisal or a loan quote. The starting rent is a price-based estimate; a local leasing professional can help confirm market rent.

Investor outlook assumes an all-cash purchase. No mortgage payment is deducted.

Estimated monthly cash flow · cash purchase
Estimated monthly rent$9,979.17
Cap rate

Annual operating income:

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Your property and current assumptions will be included for our team to review.

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Purchase price
Rental income & operating costs

Purchase price × 5% ÷ 12. Updates with purchase price until you enter a custom rent.

Annual insurance starts at purchase price × 0.25%, rounded to the nearest available amount. Updates with purchase price until you choose another amount.A planning estimate, not an insurance quote. Adjust it for your property and coverage.

Percentages are editable examples, not ERA fee quotes. Management is applied to rent after vacancy; maintenance and capital reserves use scheduled rent. Add owner-paid utilities, mortgage insurance and other recurring expenses under other costs.

How this scenario is calculated

Annual operating income is rent after vacancy, management, maintenance, taxes, insurance, HOA and other operating costs, before financing and capital reserves. Cap rate divides annual operating income by purchase price. Estimated monthly cash flow assumes an all-cash purchase: rent after vacancy, management, maintenance, taxes, insurance, HOA, other operating costs and capital reserves. No mortgage payment is deducted. The mortgage calculator is separate; loan payments would reduce cash flow for a financed purchase. One-time acquisition costs, renovations, income taxes, depreciation and appreciation are excluded.

Mortgage payment calculator

Explore financing separately. These loan settings do not change the all-cash investor outlook.

Mortgage assumptions

20% down and 7% interest are illustrative starting values.

Estimated monthly principal & interestLoan payment only. Excludes property taxes, homeowners/flood insurance, mortgage insurance and HOA dues.

About this payment estimate

Based on a fixed-rate, fully amortizing loan with monthly payments and the price, down payment, interest rate and term you select. The interest rate is an example, not a current rate offer or APR; APR includes certain loan costs. This is an illustration, not a Loan Estimate, approval, offer of credit or commitment to lend.

Your actual payment, rate and eligibility depend on your lender, credit, loan program and property. Closing costs, points, prepaid expenses and lender fees are not included. Taxes and insurance may change, and mortgage insurance may be required, particularly with a down payment below 20%. Ask your lender for a Loan Estimate and a complete monthly payment including applicable taxes, insurance and fees.

Dollar results are rounded to the nearest cent; calculations retain precision until display. A cash purchase has no loan payment but still has ownership costs. Understand your total home payment (CFPB).

ERA PROPERTY MANAGEMENT

See its potential.
Have a plan for what follows.

Considering this property as a rental? Start with the numbers, then talk through the day-to-day with a local management team.

  1. Understand the opportunity.

    Review rental pricing, property condition and your ownership goals with a local professional.

  2. Make a strong first impression.

    Bring together property preparation, professional marketing and applicant screening.

  3. Stay connected to your investment.

    Get support with rent collection, resident communication, maintenance coordination and owner reporting.

Get a local rental estimateTalk through your management needs
Stone-front home with a landscaped lawn and central entry
A more complete plan for your property

LOCAL PEOPLE. SHARED COMMITMENT.

A team behind your next step.

From your first question to the everyday work of ownership, a conversation with the right person makes a difference.

Meet ERA Property Management

Residential management in Utah, Nevada and Texas. Service availability and rental eligibility must be confirmed for each property. Commercial and association services are available through our management services page.

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2350 S Araby Drive, Palm Springs, CA 92264 · MLS #219145241DA

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Listing information

MLS #219145241DA · California Regional MLS

Listing brokerage: Allison James Estates & Homes
Listing agent: Jessica Bailey

Listing status: Active. Record updated . Confirm current availability and price with the listing agent.

The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. "CRMLS" and is protected by all applicable Copyright © 2023 laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional. Information deemed reliable but not guaranteed. Copyright © 2023 California Regional Multiple Listing Service, Inc. All rights reserved.