2593 E RIDGEWOOD Lane, Gilbert, AZ 85298, Gilbert, 85298 - 6 bed, 4 bath
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Gilbert, AZ 85298
This Rare Multi-Generational Estate is a Strong Value Opportunity, listed at $1,500,000—positioned well below the $1,653,505 Fair Market Value by 9%. This valuation gap offers $153,505 in Instant Equity. The property maintains a Good Condition Rating and features a fully independent 1,296 sqft guest house on a flood-irrigated acre with horse privileges. Located within a Top-Rated School District near Basha High, this asset balances lifestyle luxury with significant financial upside. It is perfectly suited for Multi-Generational Families or Owner-Occupants seeking a high-utility primary residence.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 2593 E RIDGEWOOD Lane Subject | $1,500,000* List Price | 6 | 4 | 3,300 | $501 | - |
A 2610 E MEADOWVIEW Drive Sold | $1,230,000 | 4 | 3 | 3,208 | $383 | 0.2 mi |
B 2863 E CEDAR WAXWING Drive Pending | $1,449,000 List Price | 5 | 3 | 3,390 | $427 | 0.6 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
The property is well-maintained by its original owners and is move-in ready. While the 1999 construction date suggests that interior finishes in the kitchen and bathrooms may be dated, the home has received significant recent capital improvements, including a new HVAC system, water heater, exterior paint, and carpeting within the last two years. The inclusion of a fully independent, functional guest house and the well-kept grounds further support a 'good' condition rating despite the age of the primary structure.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 46435, living area = 3300.
The property features a fully independent 1,296 sqft guest house with its own kitchen, laundry, 2-car garage, and private entrance, offering a rare and high-value opportunity for rental income or extended family.
Situated on a full flood-irrigated acre with horse privileges and RV access, the corner lot provides exceptional privacy and significant space for additional improvements like a pool or RV garage.
Living area discrepancy between mls listing and other public or private record. mls listing living area = 3300, other record living area = 2004. Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 6, other record bedroom count = 2.
Built in 1999 and maintained by the original owners, the interior finishes may require cosmetic updates to align with contemporary luxury standards expected at this price point.
At a list price of $1.5M for 3,300 total square feet, the property commands a high price-per-foot that may be challenging for buyers also budgeting for significant interior renovations.
Rare Multi-Generational or Income Opportunity on Irrigated Acre in Greenfield Acres. Total livable space of approximately 3,300 sq ft includes a 2,004 sq ft main residence plus a fully independent 1,296 sq ft guest house--offering a rare multi-generational or income opportunity on a flood-irrigated acre in the highly sought-after Greenfield Acres community. The guest house is a true second residence with 2 bedrooms, 2 bathrooms, full kitchen, living area, private laundry, 2-car garage, separate driveway, and private entrance. The main home offers 4 bedrooms, 2 bathrooms, vaulted ceilings, good natural light, an open layout, and a fireplace anchoring the main living space. The garage includes a 2-car door with extended 3-car bay depth and epoxy flooring. Exterior paint, carpet, HVAC system, and water heater have all been updated within the past two years. Situated on a corner lot with separate street access for each residence, the property offers privacy and flexibility for a variety of living arrangements. The acre lot is fully flood irrigated with horse privileges, RV gate access, and room to build a pool, RV garage, or additional improvements. Under current Arizona law, properties of this size may allow for up to three total units (main home, attached ADU, and detached ADU), offering long-term flexibility. Located in the desirable Greenfield Acres neighborhood, known for its mature tree-lined streets, irrigated lots, and custom homes in a prime Gilbert location. The original owners have maintained the property since it was built and have hosted the annual neighborhood car show for over a decade. A unique opportunity to own a property with multiple living options and the ability to update or expand to fit your needs. Additional photos of both residences and property details will be uploaded soon.
No exterior & parking available.
Grades PK-6 • 1.2 mi
Grades 7-8 • 1.7 mi
Grades 6-12 • 1.6 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 6.0 | 4.0 | 95% |
| Baths | 4.0 | 3.0 | 78% |
| Square foot | 3,300 | 2,351 | 80% |
| Lot Size | 46,435 | 8,347.5 | 97% |
| Price | $1.50M | $519.5K | 97% |
| Price per sq ft | $455 | $260 | 97% |
| Built year | 1999 | 2006 | 6% |
| HOA | $150 | $255 | 29% |
| Days on market | 28 | 2499 | 1% |
Mar 25, 2026
$1,500,000
Initial Listing