
Paradise Valley, AZ 85253
This High-Potential Value-Add Estate represents a High-Potential Investment Opportunity with a List Price of $2,499,000, aligning with its $2,499,000 Fair Market Value. Priced near land value at under $400 per square foot, the property offers massive upside potential through included remodel plans. While currently holding a Fair Condition Rating, the expansive one-acre lot features mountain views, a resort-style pool, and a detached guest house. Proximity to Cherokee Elementary (9/10) ensures long-term asset stability. This is an elite acquisition for Luxury Developers or Owner-Occupants.
Property is moderate renovation needed.
Built in 1986, this property is aged but maintained, fitting the 'fair' criteria perfectly. While the kitchen has some updates like granite counters and stainless steel appliances, the overall aesthetic, including the light fixtures, flooring transitions, and bathroom styles, is significantly outdated for the Paradise Valley market. The listing description explicitly states it is priced close to land value and includes remodel plans, indicating that while the home is functional, it requires a comprehensive modernization to meet current luxury standards.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 44883, living area = 6269.
Elementary School: Cherokee Elementary School (9/10).
Priced at under $400 per square foot on over an acre in Paradise Valley, this property offers significant equity potential and is positioned close to land value for the area.
Living area discrepancy between mls listing and other public or private record. mls listing living area = 6269, other record living area = 5449.
Built in 1986, the home requires a substantial capital investment to modernize the interiors and execute the included remodel plans to meet contemporary luxury standards.
The expansive one-acre grounds, large square footage, and additional guest house will necessitate high ongoing utility, landscaping, and general upkeep costs.
RARE OPPORTUNITY: Imagine, over 6200 square feet (with plans to remodel included!) for under $400 per square foot on over 1 acre in Paradise Valley! Priced close to land value! Owner purchased with intent to add-on & remodel to create an unsurpassed residence, but unexpected empty-nester syndrome has changed the family plan! 4 Bedroom + Den, 3.5 Bath home features inlaid travertine and wood-look plank flooring, Expansive double-height Living Room has vaulted, beamed ceilings and slider to beautiful private side yard. A Chef's kitchen shares the same impressive ceilings, granite counters, breakfast bar, a large island with a prep sink, S/S appliances, and French doors to a large covered patio and resort style backyard and also opens to the large cozy family room with gas fireplace. (more En-suite Guest Room, Laundry Room, Powder Bath, Den, and 3 car-garage complete the main floor. Upstairs there is an oversized Primary Suite with separate sitting room with fireplace with 2 large walk-in closets and viewing porch with stairs to the backyard. The bath features dual vanities, a clawfoot tub, and separate walk-in shower. 2 additional Guest bedrooms each with walk-in closet and outdoor balcony plus guest bath complete this floor. The backyard oasis is an entertainer's dream, with plenty of lush green space, a sparkling pool and hot tub, abundant fruit trees, and an RV gate for additional convenience and storage. Large separate 1 bedroom Guest House shares patio and pool. This is an opportunity to acquire one of PV's original estates and take it to the next level. Mountain views and close to shopping, dining, hiking, golf, and all PV and Scottsdale have to offer. SO many possibilities. *Remodel plans listed under Floorplans
No exterior & parking available.
Grades PK-5 • 0.9 mi
Grades 6-8 • 1.4 mi
Grades 9-12 • 1.0 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 5.0 | 4.0 | 70% |
| Baths | 5.0 | 4.0 | 52% |
| Square foot | 6,269 | 4,717 | 75% |
| Lot Size | 44,883 | 44,038 | 63% |
| Price | $2.50M | $2.50M | 49% |
| Price per sq ft | $399 | $667 | 40% |
| Built year | 1986 | 1983 | 59% |
| HOA | $1858 | $0 | 90% |
| Days on market | 187 | 2511 | 7% |
Oct 17, 2025
$2,499,000
Initial Listing