8700 N 58TH Place, Paradise Valley, AZ 85253, Paradise Valley, 85253 - 5 bed, 6 bath
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Paradise Valley, AZ 85253
This property presents a High-Potential Investment Opportunity with a List Price of $4,500,000—positioned well below the $4,181,455 Fair Market Value by -7%. Featuring a 1.14-Acre Lot and a 5-Bedroom/6-Bathroom layout, the home includes a Self-Contained Casita and Mountain Views. With a Condition Rating of 5, the residence requires a comprehensive renovation to match the surrounding $7M-$13M estates. Located near Cherokee Elementary (9/10), this is a strategic acquisition for Value-Add Investors or Luxury Developers seeking to build a custom estate.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 8700 N 58TH Place Subject | $4,500,000* List Price | 5 | 6 | 6,106 | $685 | - |
A 8817 N 58TH Place Sold | $4,250,000 | 5 | 7 | 5,336 | $796 | 0.1 mi |
B 5518 E SANNA Street Sold | $4,175,000 | 4 | 5 | 5,559 | $751 | 0.5 mi |
* Subject property listed price vs sold prices of comps.
Property is extensive renovation needed.
Built in 1989, the property is over 30 years old and retains mostly original finishes. The interior features dated arched cabinetry, brass fixtures, and older tile/carpet. The listing explicitly markets the property as an opportunity to 'remodel or build,' signaling that the home requires a full rehab to meet modern luxury standards.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 49692, living area = 6106.
Elementary School: Cherokee Elementary School (9/10).
Situated in a prestigious Paradise Valley enclave surrounded by estates valued up to $13M, this property offers a significant equity opportunity for those looking to remodel or build a custom luxury residence.
Living area discrepancy between mls listing and other public or private record. mls listing living area = 6106, other record living area = 4706.
Built in 1989, the existing structure likely requires a comprehensive and costly renovation to align with the modern luxury standards of the surrounding neighborhood.
While the entry price is competitive for the area, the property is positioned as a project, requiring substantial additional investment beyond the purchase price to realize its full market potential.
Nestled on a sprawling 1.14-acre lot in one of Paradise Valley's most desirable neighborhoods just south of Doubletree, this exceptional property presents an opportunity to remodel or build your dream estate in the heart of luxury living. Surrounded by newly constructed & extensively remodeled homes valued from $7M to $13M, the location & potential are truly unmatched. The existing residence offers approximately 6,100 sf with 5 bedrooms, 6 bathrooms, & a 3-car garage, plus a detached pool casita ideal a private office, or flex space. A standout feature of the home is the fully self-contained second-floor residence above the garage, complete with its own private entrance, full kitchen, W/D, spacious living room, breakfast nook, full bedroom with walk-in closet, full bath, dedicated water heater, & separate AC system--perfect for extended family, long-term guests, or multigenerational living. The expansive grounds provide endless possibilities to create a world-class estate. Add a tennis court, guest house, lush gardens, resort-style outdoor entertaining spaces, or design the custom luxury retreat you've always envisioned. An incredible value in a premier location, this is a rare opportunity to own in one of Paradise Valley's most prestigious enclaves with limitless potential to reimagine or create an extraordinary estate property.
No exterior & parking available.
Grades PK-5 • 0.2 mi
Grades 6-8 • 1.9 mi
Grades 9-12 • 1.6 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 5.0 | 4.0 | 73% |
| Baths | 6.0 | 4.5 | 71% |
| Square foot | 6,106 | 4,789 | 71% |
| Lot Size | 49,692 | 43,909 | 83% |
| Price | $4.50M | $2.55M | 77% |
| Price per sq ft | $737 | $645 | 56% |
| Built year | 1989 | 1983 | 60% |
| HOA | $145 | $0 | 69% |
| Days on market | 24 | 2693 | 2% |
May 13, 2026
$4,500,000
Initial Listing
Jul 22, 1999
$1,375,000
Public Record