luxury apartments / penthouses with terrace for sale Rancho Mirage, United States

Located in the heart of South Palm Desert, this rare 3-bedroom condo at the iconic Shadow Mountain Resort offers the ultimate blend of resort-style living, short-term rental flexibility & prime investment opportunity just steps from world-famous El Paseo Shopping District dining, shopping, art galleries & entertainment. Situated within one of Palm Desert's most sought-after tennis communities, this STR-friendly property has no minimum rental stay requirement, making it ideal for vacation rental income, seasonal living, or a full-time desert retreat. This unique floor plan features 3 bedrooms, including a private 'lock-off' suite exclusive to the 3-bedroom configuration, allowing owners the flexibility to rent the condo as two separate units, maximize Airbnb/VRBO income potential, or enjoy one side while hosting guests or tenants in the other. Inside, the bright open-concept layout showcases an updated kitchen, new bedroom carpeting & expansive windows that frame breathtaking mountain views & overlook the vibrant tennis courts below. Residents enjoy HOA-covered cable TV and high-speed internet along with access to multiple resort pools and spas. Optional resort membership unlocks premium amenities including 14 tennis courts, 7 pickleball courts, a Padel court, fitness center, massage services, poolside BBQ area, grass volleyball, basketball courts, on-site café and bar, tennis pro shop, and access to the adjacent public golf course. Established in 1946, Shadow Mountain Resort is internationally recognized as one of the Top 75 Tennis Resorts in the World, offering a rare opportunity to own a piece of Palm Desert history in an unbeatable location near hiking, golf, luxury shopping, and Coachella Valley attractions. Whether you're searching for a Palm Desert vacation home, investment property, Airbnb-friendly condo, or luxury tennis resort lifestyle, this exceptional residence delivers it all.