5057 E SKY DESERT Lane, Paradise Valley, AZ 85253, Paradise Valley, 85253 - 4 bed, 3 bath
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Paradise Valley, AZ 85253
This Rare Buildable Legacy Estate is listed at $7,999,999, representing a premier opportunity in a high-demand market. Positioned near its $7,544,827 Fair Market Value, the pricing reflects the extreme scarcity of nearly three acres of flat land with sweeping mountain views. The property maintains a Condition Rating of 3, featuring a tastefully remodeled 5,645 sqft residence with a resort-style pool and mature perimeter hedge. This unique offering provides immediate livability while planning a future compound, making it the ideal acquisition for Luxury Custom Home Builders or Owner-Occupants looking to secure a generational asset.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 5057 E SKY DESERT Lane Subject | $7,999,999* List Price | 4 | 3 | 5,645 | $1,337 | - |
A 8920 N MARTINGALE Road Active Under Contract | $6,950,000 List Price | 5 | 6 | 5,959 | $1,166 | 0.9 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
Although originally built in 1976, the residence has undergone a high-quality, tasteful remodel that remains in excellent condition. The interior features premium hardwood and Saltillo tile flooring, vaulted ceilings with exposed dark wood beams, and updated bathrooms with custom tile work and soaking tubs. While the Mediterranean/Southwestern aesthetic suggests the renovations are likely 15-20 years old, the home is move-in ready and well-maintained, providing immediate livability while the owner considers the property's significant redevelopment potential.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 122655, living area = 5645.
Situated on nearly three acres of flat, buildable land, this property offers a rare opportunity to develop a massive legacy estate in a market where such large, usable lots are increasingly scarce.
The estate provides sweeping mountain views and exceptional seclusion thanks to a mature perimeter hedge, creating a private sanctuary in the heart of Paradise Valley.
With a list price of nearly $8 million, the value is heavily weighted in the land, representing a high entry point for buyers who must still budget for a custom build or major expansion.
Despite the remodel, the original 1976 structure may have underlying infrastructure or a layout that does not fully align with the standards of a modern ultra-luxury compound.
Possibly the finest remaining homesite in all of Paradise Valley. Set on just under three acres of flat, buildable land, this extraordinary property offers sweeping mountain views, exceptional privacy, and a setting rarely found in today's market. A mature perimeter hedge creates a secluded estate environment, while the expansive grounds provide endless possibilities for a future world-class compound. Located in one of the most desirable areas of Paradise Valley, the property combines tranquility with proximity to the Valley's best dining, resorts, and shopping. An existing residence on the property has been tastefully remodeled and is highly livable, offering immediate enjoyment while future plans are developed. The home could easily be expanded or reimagined though the true value lies in the land itself -- presenting a rare opportunity to build a legacy estate on what may be one of the most exceptional lots currently available in Paradise Valley. Matt Thomas drawings available on request.
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 | 4.0 | 26% |
| Square foot | 5,645 | 4,717 | 70% |
| Lot Size | 122,655 | 44,038 | 97% |
| Price | $8.00M | $2.50M | 92% |
| Price per sq ft | $1.4K | $683 | 90% |
| Built year | 1976 | 1982 | 37% |
| HOA | $0 | $0 | 50% |
| Days on market | 40 | 2511 | 1% |
Mar 13, 2026
$7,999,999
Initial Listing