NOT LISTED FOR SALE

388 E Valmonte Norte Palm Springs, CA 92262

The Movie Colony Neighborhood

Estimated Value: $2,112,000 - $2,498,000

4 Beds
3.5 Baths
2,278 Sq Ft
$998/Sq Ft Est. Value

Sale Details

Date Sold: October 13, 2023

Last sale price $2,450,000 $1,076 Per Sq Ft

Est. 7% decrease in value since last sale

Current estimated payment $14,764 / mo

Highlights

  • In Ground Pool
  • Mountain View
  • Main Floor Bedroom
  • Palm Springs High School Rated A-
  • Wood Flooring
  • 5-minute walk to Frances Stevens Park

About This Home

As of October 2023

Located in the prestigious Movie Colony and inspired by Frank Lloyd Wright's protégé, Hiram Hudson Benedict, this elegant estate combines Spanish flair with modern luxury. Spanning 2,278 sq ft, it boasts four bedrooms, three-and-a-half baths, and proximity to Palm Springs' top dining and shopping spots. Esteemed guests like Bob and Dolores Hope have graced this home, adorned with Arto tile flooring, Talavera tiles, and a spacious great room with a wood-burning fireplace and French doors leading to the patio. Outside, a new pool and spa offer stunning mountain views. Other features include a detached two-car garage, ample storage, a basement, rooftop deck, and discreet underground utilities. The 1935 property is recognized for its pre-WWII significance, holding a "5S3" historic status for its Spanish Colonial Revival architecture, potentially qualifying for a Mills Act residence. Set on privately owned land near Ruth Hardy Park, upscale eateries, and boutiques, its ideal location on a serene street and potential for a Short-Term Rental license make it a valuable investment in Palm Springs' sought-after Movie Colony district.

Last Agent to Sell the Property

Maleny Rodriguez

Coldwell Banker Realty License #01972597 Listed on: 10/13/2023

Coldwell Banker Realty

Co-Listed By

Tim Smith

Coldwell Banker Realty License #01346878

Last Buyer's Agent

Chad Harper

Coldwell Banker Realty License #02051062

Coldwell Banker Realty

Home Details

Home Type

  • Single Family

Year Built

  • Built in 1935

Lot Details

  • 12,197 Sq Ft Lot
  • Back Yard
  • Property is zoned R1C

Parking

  • 2 Car Garage
  • Parking Available

Home Design

  • Entry on the 1st floor

Interior Spaces

  • 2,278 Sq Ft Home
  • 1-Story Property
  • Beamed Ceilings
  • Recessed Lighting
  • Custom Window Coverings
  • French Doors
  • Living Room with Fireplace
  • Dining Room
  • Mountain Views
  • Laundry Room

Kitchen

  • Gas Oven
  • Gas Cooktop
  • Range Hood
  • Microwave
  • Freezer
  • Dishwasher
  • Quartz Countertops

Flooring

  • Wood
  • Carpet
  • Tile

Bedrooms and Bathrooms

  • 4 Main Level Bedrooms
  • Dual Vanity Sinks in Primary Bathroom
  • Bathtub with Shower
  • Walk-in Shower

Pool

  • In Ground Pool
  • In Ground Spa

Utilities

  • Cooling System Mounted To A Wall/Window
  • Central Heating and Cooling System
  • Standard Electricity

Community Details

  • No Home Owners Association
  • Movie Colony Subdivision

Listing and Financial Details

  • Legal Lot and Block 7 / D
  • Assessor Parcel Number 507184010
  • $268 per year additional tax assessments

Home Details

Home Type

Single Family

Year Built

Built in 1935

Lot Details

0.28 Acres

Parking

2

Listing Details

  • Structure Type: House
  • Assessments: Yes
  • Ad Number: 949.478.2295
  • Property Attached: No
  • Road Surface Type: Paved
  • Subdivision Name Other: Movie Colony (33235)
  • View: Yes
  • Zoning: R1C
  • Property Sub Type: Single Family Residence
  • Property Type: Residential
  • Parcel Number: 507184010
  • Year Built: 1935
  • Special Features: None

Interior Features

  • Fireplace: Yes
  • Living Area: 2278.00 Square Feet
  • Interior Amenities: Beamed Ceilings, Quartz Counters, Recessed Lighting
  • Stories: 1
  • Common Walls: No Common Walls
  • Flooring: Carpet, Tile, Wood
  • Appliances: Yes
  • Full Bathrooms: 3
  • Half Bathrooms: 1
  • Total Bedrooms: 4
  • Door Features: French Doors
  • Eating Area: Dining Room
  • Entry Level: 1
  • Fireplace Features: Living Room
  • Levels: One
  • Main Level Bathrooms: 4
  • Main Level Bedrooms: 4
  • Price Per Square Foot: 1075.50
  • Room Type: Kitchen, Laundry, Living Room, Main Floor Bedroom, Main Floor Primary Bedroom, Primary Bathroom, Primary Bedroom
  • Spa Features: Private, In Ground
  • Window Features: Custom Covering
  • Bathroom Features: Shower, Shower In Tub, Double Sinks In Primary Bath, Walk-In Shower
  • Room Kitchen Features: Quartz Counters

Exterior Features

  • View: Mountain(s)
  • Pool Features: Private, In Ground
  • Pool Private: Yes
  • Spa: Yes

Garage/Parking

  • Attached Garage: No
  • Garage Spaces: 2.00
  • Parking: Yes
  • Parking Features: Garage
  • Total Parking Spaces: 2.00

Utilities

  • Heating: Yes
  • Laundry: Yes
  • Appliances: Dishwasher, Freezer, Gas Oven, Gas Cooktop, Microwave, Range Hood, Refrigerator
  • Electric: Standard
  • Heating Type: Central, Fireplace(s)
  • Laundry Features: Individual Room, Inside
  • Sewer: Public Sewer
  • Water Source: Public
  • Cooling: Central Air, Wall/Window Unit(s)
  • Cooling: Yes

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Sidewalks

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Back Yard, Lot 10000-19999 Sqft
  • Lot Size Sq Ft: 12197.00
  • Lot Size Acres: 0.2800

Multi Family

  • Lease Considered: No
  • Lot Size Area: 12197.0000 Square Feet
  • Number Of Units Total: 1

Tax Info

  • Tax Block: D
  • Tax Census Tract: 446.02
  • Tax Lot: 7
  • TaxOtherAnnualAssessmentAmount: 268.00

Ownership History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Name Owned For Owner Type

Purchase Details

Listed on
Oct 13, 2023
Closed on
Aug 25, 2023
Sold by
Bought by
Seller's Agent
Maleny Rodriguez
Coldwell Banker Realty
Buyer's Agent
Chad Harper
Coldwell Banker Realty
List Price
$2,450,000
Sold Price
$2,450,000
Views
34
Current Estimated Value
$2,273,959

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$176,041
Avg. Annual Appreciation
-2.80%
Original Mortgage
$1,715,000
Outstanding Balance
$1,669,817
Interest Rate
7.09%
Mortgage Type
New Conventional
Estimated Equity
$604,142

Purchase Details

Closed on
Jan 27, 2023
Sold by
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,575,000
Interest Rate
6.27%
Mortgage Type
New Conventional

Purchase Details

Listed on
Oct 21, 2021
Closed on
Nov 2, 2021
Sold by
Bought by
Seller's Agent
Joseph Babineaux
HK Lane Real Estate
Buyer's Agent
Tim Smith
Coldwell Banker Realty
List Price
$1,700,000
Sold Price
$1,700,000

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
6.72%
Original Mortgage
$1,482,580
Interest Rate
3.14%
Mortgage Type
Commercial

Purchase Details

Closed on
Apr 8, 2016
Sold by
Bought by

Purchase Details

Closed on
Oct 27, 2015
Sold by
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$938,250
Interest Rate
3.2%
Mortgage Type
Reverse Mortgage Home Equity Conversion Mortgage
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
Not Available
List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Buyer Sale Price Title Company
$2,450,000 Equity Title Company
-- Chicago Title
$1,700,000 Ticor Title Company
-- None Available
-- Stewart Title Of Ca Inc
Source: Public Records

Mortgage History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Status Borrower Loan Amount
Open $1,715,000
Previous Owner $1,575,000
Previous Owner $1,482,580
Previous Owner $938,250
Source: Public Records

Property History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Event Price List to Sale Price per Sq Ft Prior Sale
10/13/2023 10/13/23 Sold $2,450,000 0.0% $1,076 / Sq Ft
10/13/2023 10/13/23 Pending -- -- --
10/13/2023 10/13/23 For Sale $2,450,000 +44.1% $1,076 / Sq Ft
12/09/2021 12/09/21 Sold $1,700,000 0.0% $746 / Sq Ft View Prior Sale
11/22/2021 11/22/21 Pending -- -- --
10/21/2021 10/21/21 For Sale $1,700,000 -- $746 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $30,060 $2,498,999 $874,651 $1,624,348
2023 $30,060 $1,734,000 $561,000 $1,173,000
2022 $22,221 $1,700,000 $550,000 $1,150,000
2021 $3,723 $274,914 $84,965 $189,949
2020 $3,562 $272,096 $84,094 $188,002
2019 $3,501 $266,762 $82,446 $184,316
2018 $3,437 $261,532 $80,830 $180,702
2017 $3,385 $256,405 $79,246 $177,159
2016 $3,289 $251,379 $77,693 $173,686
2015 $3,148 $247,605 $76,527 $171,078
2014 $3,099 $242,757 $75,029 $167,728
Source: Public Records

Agents Affiliated with this Home

  • Maleny Rodriguez

    Seller's Agent in 2023

    Maleny Rodriguez

    Coldwell Banker Realty

    (949) 310-9442

    1 in this area

    6 Total Sales

    Maleny Rodriguez
    Section Image
  • Tim Smith

    Seller Co-Listing Agent in 2023

    Tim Smith

    Coldwell Banker Realty

    (949) 478-2295

    3 in this area

    650 Total Sales

    Tim Smith
    Section Image

  • C

    Buyer's Agent in 2023

    Chad Harper

    Coldwell Banker Realty

    (760) 895-9892

    1 in this area

    12 Total Sales

    Chad Harper
    Section Image

  • J

    Seller's Agent in 2021

    Joseph Babineaux

    HK Lane Real Estate

See All Agents

Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: NP23186194

California Regional Multiple Listing Service (CRMLS)

APN: 507-184-010

California Riverside County Palm Springs 92262 The Movie Colony

388 E Valmonte Norte, Palm Springs, CA

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

California Regional Multiple Listing Service (CRMLS) 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 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.

Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information

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