ARIZONA NEWS

Location, location, location: Vacant Paradise Valley home lot sells for $9.4M

Mar 28, 2022, 11:59 AM | Updated: 12:18 pm

PHOENIX – A vacant piece of Paradise Valley land sold last week for $9.4 million, a record for a single-family residential lot in the state’s wealthiest community.

The deal on 5711 N. Yucca Road Unit 10, a 4.96-acre plot, closed on Friday, more than a year after the property was put on the market.

The location between Phoenix and central Scottsdale and provides views of Camelback Mountain to the south and Mummy Mountain to the north.

Russ Lyon Sotheby’s International Realty agent Frank Aazami, who represented the seller, said the unnamed buyer plans to spend $30 million to develop the property.

“This lot is one of the last, larger undeveloped pieces of land in the Town of Paradise Valley and we knew it was going to command a record-breaking price,” Aazami said.

“This is one of those rare opportunities and we are more than pleased to have found the buyer who will now take the property to a whole new level.”

The stretch of Yucca Road south of McDonald Drive is already lined with extravagant homes, including two currently on the market.

A 16,844-square-foot estate on 4.44 acres at 5953 N. Yucca Road is asking $33.69 million, the highest price tag of all current listings in the state and a potential state home sale record.

Down the street, a 21,379-square-foot estate on 4.62 acres at 5800 N. Yucca Road is listed at $18 million.

Lifetime Windows & Doors

We want to hear from you.

Have a story idea or tip? Pass it along to the KTAR News team here.

Arizona News

(City of Tempe Photo)...
KTAR.com

Arizona cities exchange fireworks for other showy July Fourth displays

A few Arizona cities plan to light up the night sky without fireworks to celebrate Independence Day this year. 
23 hours ago
(Facebook Photo/Phoenix Police Department)...
KTAR.com

Phoenix police involved in shooting near 52nd Street and Thomas Road

Phoenix police were involved in a shooting with a suspect on Monday night, authorities said. 
23 hours ago
The Colorado River winds its way along the West Rim of the Grand Canyon in the Hualapai Indian Rese...
Associated Press

Grand Canyon starting water limitations after pumphouse outage

Grand Canyon National Park is starting water conservation measures on the North Rim due to an electrical failure involving the Roaring Springs pumphouse.
23 hours ago
(AP Photo/Ross D. Franklin)...
Danny Shapiro

National Guard sets up barricade around Arizona Capitol following abortion ruling protests

The Arizona National Guard has set up razor-wire fencing around the Capitol complex in downtown Phoenix following protests over the weekend in response to the Supreme Court’s decision to overturn the constitutional right to abortions.
23 hours ago
Traffic stops as thousands of protesters march around the Arizona Capitol after the Supreme Court o...
Associated Press

Groups want court to block Arizona ‘personhood’ law in wake of Roe ruling

An emergency motion was filed seeking to block a 2021 Arizona “personhood” law that abortion rights supporters fear will be used to halt all abortions.
23 hours ago
(KTAR News Photo/Jeremy Schnell)...
Kevin Stone

Sinkhole almost swallows car after pipe breaks on Phoenix street

A motorist escaped uninjured after driving into a sinkhole that opened up after a pipe broke under a Phoenix street Sunday night.
23 hours ago

Sponsored Articles

...

Most plumbing problems can be fixed with regular maintenance

Instead of waiting for a problem to happen, experts suggest getting a head start on your plumbing maintenance.
...
Carla Berg, MHS, Deputy Director, Public Health Services, Arizona Department of Health Services

Update your child’s vaccines before kindergarten

So, your little one starts kindergarten soon. How exciting! You still have a few months before the school year starts, so now’s the time to make sure students-to-be have the vaccines needed to stay safe as they head into a new chapter of life.
...
Carla Berg, MHS, Deputy Director, Public Health Services, Arizona Department of Health Services

ADHS mobile program brings COVID-19 vaccines and boosters to Arizonans

The Arizona Department of Health Services and partner agencies are providing even more widespread availability by making COVID-19 vaccines available in neighborhoods through trusted community partners.
Location, location, location: Vacant Paradise Valley home lot sells for $9.4M