See Home Value
$7,875,000 - $9,625,000
House - Off Market

550 Palisades Drive

Palm Springs, CA 92262
bedrooms
3 Beds
bathrooms
3.5 Baths, 1 Half Bath
square feet
2932 Sqft
Sold Mar 28, 2024
$8,150,000
Sold Mar 31, 1999
$1,090,000
$900,000 by The Burgess Estate Trust
Mortgage

About This Property

A vision of creativity of a bygone era, the true architectural embodiment of Desert Modern. One of a small collection of properties considered Organic Modern, to grace the captivating landscape of the Coachella Valley, the home and its grounds were designed by foresighted Hugh Kaptur, 1958. Heralded as one of the most prolific architects of his time, Kaptur considered the entire parcel when creating an unmatched environment to enjoy the spectacular setting. Illuminated meandering paths formed from the native mineral terrain& cascading rock waterfalls envelop the home, its myriad terraces& verdant gardens. The distinct facade, surrounding walls of glass& graphic roof-line canopy brilliantly mirror clad, reflecting the everchanging tableau of light, horizon& scenic wonder afforded by the property's ideal elevation& location. Panoramic vistas from nearly every vantage are complemented by delightful details; thoughtfully curated viewing and entertaining areas; a luminous pool; and a graphic assemblage of mature palms. Further enhancing the interior connection to the environmental context are substantial exposed rock formations& access to a continuous water feature& Koi fish habitat. Albert Frey, a groundbreaking contributor to modern architecture expanded the property, including guest house of equal visual interest& design integrity. 1 of only 3 famed properties on this private ridge, protected by a gated road& set above downtown Palm Springs, an opportunity beyond compare.

The manager has listed the unit size as 2932 square feet.
Unit Size
2,932Ft²
Days on Market
-
Land Size
-
Price per sqft
$2,984
Property Type
House
Property Taxes
-
HOA Dues
-
Year Built
1959

Price History

Date / Event Date Event Price
Mar 29, 2024 No longer available -
No longer available
Mar 9, 2024 In contract -
In contract
Jan 17, 2024 Listed $8,750,000
Listed
Mar 31, 1999 Sold to Dorothy C Meyerman, Harold ... $1,090,000
Sold to Dorothy C Meyerman, Harold ...

Property Highlights

Building Info

Overview

    General

  • Year Built: 1959
  • Effective Year Built: 1985
  • Building Count: 1
  • Bedroom Count: 4
  • Bathroom Count: 2
  • Full Bathrooms: 2
  • Partial Bathrooms: 2
  • Construction Type: Wood
  • Roof Cover Type: Gravel/rock
  • Floor Count: 1
  • Living Units: 1
  • Basement Area: 0
  • Garage Type: Garage
  • Garage Square Area: 272
  • Parking Space Count: 1
  • Pool Type: Pool

    Dimensions

  • Lot Size Square Feet: 43,560
  • Total Building Area: 3,630
  • Gross Building Area: 3,630
  • Building Area: 2,932
  • Building Area Measurement: Living Area

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: Central air conditioning
  • Heating: Central heating
  • Heated Square Feet: 2,932
  • Heating Fuel Type: Gas

    Utilities

  • Sewer System: None
  • Water Service: Yes

Building

  • Property Class: Residential
  • Subdivision: MAP OF PALM SPRINGS
  • Land Acres: 1
  • Standard Land Use Code: Single family residential
  • County Land Use Code: Water rights (misc.)
  • Legal Description 1: 1.00 ACRES M/L IN LOTS 1 & 2 MB 019/023 PALM SPRINGS PALISADES AND LOT 3 BLK 30P MB 009/432 SD MAP OF PALM SPRINGS

Ownership

  • Current Owner : RHONDA SASSOON REVOCABLE TRUST
  • Current Owner 2: SASSOON
  • Previous Owner : MEYERMAN FAMILY TRUST
  • Previous Owner 2: WILSON DAVID M
  • Owner Before Previous Owner: BURGESS WILLIAM H
  • Owner Before Previous Owner 2: BURGESS CLARA W
  • Is Owner Occupied: Owner-occupied property
  • Ownership Rights Codes: Family Trust
  • Current Owner Is a Corporation Indicator: Yes

Neighborhood

  • School District Name: Palm Springs Unified School District
  • Census Tract: 044606

Geography

  • Parcel: 513-110-043
  • Block: 30P
  • Lot: 3
  • Municipality: PALM SPRINGS
  • Latitude: 33.8236
  • Longitude: -116.552

    Address

  • Full Address: 550 Palisades Dr
  • Address - House Number: 550
  • Address - Street Name: Palisades
  • Address - Suffix Type: Dr
  • State: CA
  • City Name: Palm Springs
  • Carrier Code: C013
  • 4-Digit Zip Code: 5644
  • Zip Code: 92262

Valuation

    Tax

  • Total Area: 2,932
  • Tax Year: 2023
  • Tax Amount: $19,772
  • Tax Rate Code Area: 011-023

    Appraisal Valuation

  • Standard Deviation: 0.1869
  • Valuation Date: Apr 03, 2024
  • Confidence Score: 75
  • Final Value: 1,092,265
  • High Value: 1,296,439
  • Low Value: 888,091

    Market Valuation

  • Market Total Value: $1,560,960

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $1,542,502
  • Assessed Land Value: $376,697
  • Assessed Improvements Value: $1,165,805

    Sales

  • Current Sale Contract Date: Mar 20, 2024
  • Current Sale Recording Date: Mar 28, 2024
  • Current Sale Transaction ID: 11923545514
  • Current Sale Price: $8,150,000
  • Current Sale Document Type: Grant Deed
  • Current Sale Input Document Number: 91209
  • Previous Sale Recording Date: Mar 31, 1999
  • Previous Sale Contract Date: Dec 17, 1998
  • Previous Sale Amount: $1,090,000
  • Previous Sale Document Type: Grant Deed

    Previous Mortgages

  • Previous Mortgage Lender: THE BURGESS ESTATE TRUST
  • Previous Mortgage Transaction Date: Mar 31, 1999
  • Previous Mortgage Loan Amount: $900,000
  • Previous Mortgage Term: 360
  • Previous Mortgage Loan Type: Seller take-back



Comparables

Unit
Status
Type
Beds
Baths
ft²
Price/ft²
Asking Price
Listed On
Closing Price
Sold On
HOA + Taxes

About Historic Tennis Club


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Frequently Asked Questions

When was property at 550 Palisades Drive built and last sold?
The property at 550 Palisades Drive was built in 1959 and last sold on Mar 20, 2024 for $8,150,000.
How much is this home worth?
The estimated value of the home located at 550 Palisades Drive is $8,505,983.
What are some comparable homes to 550 Palisades Drive?
There are currently no comparable homes to 550 Palisades Drive.

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