Dedicated to the memory of Arnaz's one-time wife and "I Love Lucy" co-star Lucille Ball, the 1954 one-bedroom home has just 336 square feet of living space, including a full bathroom.

The tiny house is tucked away in Horizon Mobile Village, at the bottom of Arabi Trail, just below the iconic Bob Hope home.

"My client is a designer and bought this house to inspire him," said Nico Esposito, listing agent for Paul Kaplan Group Palm Springs.

"When he bought the house, several people told him that Desi Arnaz had bought it for his make-up artist. It sits directly below the Bob Hope House in Southridge. It sits on a private road and the houses around it have an amazing pedigree. Steve McQueen had a house there as well," adds Esposito, referring to the Hollywood star of the 1960s and 1970s.

About two years ago, the current owners decided to renovate the house while maintaining its classic, vintage style.

"When he saw the house," Esposito said, "it was an antique that needed a lot of work." He had a home in Palm Springs and because he is a designer, he bought it as a project home. He did an amazing job renovating it. The space was just gorgeous. He hollowed out the whole thing and polished it down to metal."

Palm Springs is known for its mid-century modern homes, so this home has the same time-capsule design and is a real draw for potential buyers.

"I've never had so many leads on a property before," says Esposito." A lot of people like vintage, and this house does it very well. It basically looks new, but reads like an authentic vintage. And of course, the price point is attractive. It's almost impossible to get a brand new house at that price."

"We have had a variety of interest in the property from people of all ages. Some people were just enthralled with Desi Arnaz and Lucy in it. People love it for a lot of reasons," she added." It's just a real unicorn and that's why it's getting so much praise."