1187 S VAL VISTA Drive, Gilbert, AZ 85296, Gilbert, 85296 - 4 bed, 3 bath
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Gilbert, AZ 85296
Analysis of 1187 S VAL VISTA Drive, Gilbert, AZ 85296 is currently available with a list price of $4,500,000. The property maintains a Tear down Condition Rating (10/100), reflecting significant deferred maintenance. This property is best suited for experienced investors or developers prepared for substantial renovation work. Located in a high-demand neighborhood within the Gilbert Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for Experienced Investors and Fix-and-Flip Specialists.
Property is land value only, full reconstruction required.
The property is marketed primarily for its 5-acre land value and development potential rather than the existing 1964 structure. The listing description explicitly suggests building a dream home or developing the parcels, noting the aging structure likely requires removal. With no interior photos provided and the home being 60 years old, it meets the criteria for a tear-down where value is based on the land.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 212594, living area = 2685.
The property spans nearly 5 acres across three parcels zoned R43, offering a rare and versatile opportunity for residential development or a massive private estate in a high-demand area.
Ideally situated in the heart of Gilbert, the property offers exceptional connectivity, located just 1.5 miles from the Loop 202 and 4 miles from the US 60.
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =212594, other record lot size in square feet = 41382.
The current home dates back to 1964 and likely requires significant renovation or removal to align with the high land value and modern luxury standards.
The current R43 zoning restricts development to one dwelling per acre, which may limit the return on investment for developers unless a successful rezoning for higher density is achieved.
Rare Acreage in Gilbert. Nearly 5 acres. Existing home is approximately 2700 sqft. Or build your own dream home in the heart of Gilbert on this irrigated horse property. Looking for an investment property - Many Development Opportunities are available on these 3 parcels currently zoned R43. Adjoining nearly 5 acre parcel may also be available for those seeking larger acreage. Don't miss this rare opportunity to live on or develop roughly 5-10 acres in a highly desired Gilbert location - just 1.5 miles to Loop 202 or 4 miles to US 60.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 4.0 | 4.0 | 50% |
| Baths | 3.0 | 3.0 | 50% |
| Square foot | 2,685 | 2,089.5 | 75% |
| Lot Size | 212,594 | 6,821 | 99% |
| Price | $4.50M | $445.0K | 99% |
| Price per sq ft | $1.7K | $232 | 99% |
| Built year | 1964 | 2001 | 1% |
| HOA | $0 | $140 | 4% |
| Days on market | 110 | 2527 | 1% |
Jan 2, 2026
$4,500,000
Initial Listing