Welcome to Palermo, a gated community in Palm Springs situated on fee land (you own the land). This desirable Model B floor plan offers 2 bedrooms, 2.5 bathrooms, a one-car garage, a private backyard spa, and an upstairs patio above the garage with stunning mountain views.The open-concept layout creates an inviting space for everyday living and entertaining, while the private backyard offers a peaceful retreat to relax and enjoy your own spa. Upstairs, the spacious patio provides the perfect place to take in the surrounding mountain vistas.Palermo's resort-style amenities include two community pools, two spas, outdoor showers and restrooms, a clubhouse with a lounge area, pool table, full kitchen, fitness center, abundant guest parking, and dog stations throughout the community. The HOA permits rentals with a 30-day minimum, making this property an excellent choice as a primary residence, vacation home, or investment opportunity.Photo Disclosure: Some listing photos have been virtually staged using AI to illustrate the home's potential. Additional photos show the property in its current vacant condition. Buyers are encouraged to review both the virtually staged and vacant photographs.
For sale
Listed by: Compass • Luke Smith • 949-793-0086
$489,000
3554 Penny Ln, Palm Springs, CA 92262
2beds
1,343sqft
Condominium
Built in 2007
-- sqft lot
$479,200 Zestimate®
$364/sqft
$590/mo HOA
What's special
One-car garagePrivate backyard spaFull kitchenOpen-concept layoutTwo spasOutdoor showers and restroomsTwo community pools
- 39 days |
- 557 |
- 31 |
Likely to sell faster than
Zillow last checked:
Listing updated:
Listed by:
Luke Smith DRE #02059916 949-793-0086,
Compass
Source: CRMLS,MLS#: 219149987PS
Originating MLS: California Desert AOR & Palm Springs AOR
Originating MLS: California Desert AOR & Palm Springs AORFacts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 2
- Bathrooms: 3
- Full bathrooms: 2
- 1/2 bathrooms: 1
Rooms
- Room types: Other
Heating
- Forced Air
Cooling
- Has cooling: Yes
Appliances
- Included: Dishwasher, Refrigerator
Features
- Flooring: Concrete
- Has fireplace: Yes
- Fireplace features: Gas, Outside
Interior area
- Total interior livable area: 1,343 sqft
Property
Parking
- Total spaces: 1
- Parking features: Guest
- Attached garage spaces: 1
Features
- Levels: Two
- Stories: 2
- Spa features: Heated, In Ground
- Has view: Yes
- View description: Mountain(s)
Lot
- Size: 1,134 Square Feet
- Features: Drip Irrigation/Bubblers, Sprinkler System
Details
- Parcel number: 669722005
- Special conditions: Standard
Construction
Type & style
- Home type: Condo
- Property subtype: Condominium
- Attached to another structure: Yes
Materials
- Foundation: Slab
Condition
- New construction: No
- Year built: 2007
Community & HOA
Community
- Features: Gated
- Security: Gated Community
- Subdivision: Palermo
HOA
- Has HOA: Yes
- Amenities included: Clubhouse, Fitness Center, Other, Trash, Water
- Services included: Sewer
- HOA fee: $590 monthly
- HOA name: Palermo
Location
- Region: Palm Springs
Financial & listing details
- Price per square foot: $364/sqft
- Tax assessed value: $402,987
- Date on market: 7/9/2026
- Listing terms: Cash,Cash to New Loan
Estimated market value
$479,200
$455,000 - $503,000
$3,307/mo
Price history
| Date | Event | Price |
|---|---|---|
| 7/9/2026 | Listed for sale | $489,000+34%$364/sqft |
Source:  Greater Palm Springs Realtors #219149987 Report a problem | ||
| 9/23/2020 | Sold | $365,000+1.7%$272/sqft |
Source:  CDAR/ Desert Area MLS #219047422 Report a problem | ||
| 8/9/2020 | Pending sale | $359,000$267/sqft |
Source: HK Lane Real Estate #219047422 Report a problem | ||
| 8/8/2020 | Listed for sale | $359,000+34.5%$267/sqft |
Source: HK Lane Real Estate #219047422 Report a problem | ||
| 3/26/2015 | Sold | $267,000-1.1%$199/sqft |
Source: CDAR/ Desert Area MLS #14806827 Report a problem | ||
| 12/9/2014 | Price change | $269,990-5.3%$201/sqft |
Source: Scott Lyle Realtors #14806827PS Report a problem | ||
| 11/3/2014 | Listed for sale | $285,000-0.3%$212/sqft |
Source: Scott Lyle Realtors #14806827PS Report a problem | ||
| 7/30/2014 | Listing removed | $285,900$213/sqft |
Source: Keller Williams Realty #214018323 Report a problem | ||
| 5/11/2014 | Listed for sale | $285,900$213/sqft |
Source: Keller Williams Realty #214018323 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2026 | -- | $402,987 +2% |
| 2025 | $5,334 -2.1% | $395,086 +2% |
| 2024 | $5,447 -1.3% | $387,340 +2% |
| 2023 | $5,520 +0.2% | $379,746 +2% |
| 2022 | $5,509 +2.6% | $372,300 +2% |
| 2021 | $5,368 +25.1% | $365,000 +24.4% |
| 2020 | $4,293 +1.7% | $293,413 +2% |
| 2019 | $4,219 +1.9% | $287,661 +2% |
| 2018 | $4,140 +1.6% | $282,021 +2% |
| 2017 | $4,073 | $276,492 +2% |
| 2016 | $4,073 +80.3% | $271,071 +94.5% |
| 2015 | $2,259 +1.8% | $139,343 +2% |
| 2014 | $2,220 | $136,616 +0.5% |
| 2013 | -- | $136,000 -24.7% |
| 2012 | -- | $180,540 -28.3% |
| 2011 | -- | $251,817 +0.8% |
| 2010 | -- | $249,937 -0.2% |
| 2009 | -- | $250,532 +2% |
| 2008 | -- | $245,620 +219.7% |
| 2007 | -- | $76,822 |
Find assessor info on the county website
Monthly payment
Est. payment
Payment breakdown
Explore the cost of this home by adjusting the details. Changes won't be saved.Climate risks
Neighborhood: 92262
Nearby schools
GreatSchools rating
- 3/10Vista Del Monte Elementary SchoolGrades: K-5Distance: 0.7 mi
- 5/10Raymond Cree Middle SchoolGrades: 6-8Distance: 1.3 mi
- 5/10Palm Springs High SchoolGrades: 9-12Distance: 3.3 mi
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A local agent can set up tours, give advice and negotiate with sellers.
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