ARIZONA NEWS

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

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

(Russ Lyon Sotheby’s International Realty Photo) (Russ Lyon Sotheby’s International Realty Photo) (Russ Lyon Sotheby’s International Realty Photo) (Russ Lyon Sotheby’s International Realty Photo)

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.

We want to hear from you.

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

Arizona News

(Facebook photo/Phoenix Union High School District)...

KTAR.com

Phoenix, Mesa high schools receive $950k grant to expand dual enrollment

ElevateEdAZ, a Greater Phoenix Chamber Foundation initiative, received a $950,000 grant to expand dual enrollment in two large Valley public school districts.

8 hours ago

(Facebook Photos/Over Easy)...

SuElen Rivera

Over Easy breakfast restaurant to open new location in Chandler

Popular breakfast restaurant Over Easy is expanding in the Valley with the opening of its latest location later this month. 

8 hours ago

Celebrity interior designer Bobby Berk — who stars on Netflix's 'Queer Eye' as the interior desig...

Angela Gonzales/Phoenix Business Journal

Bobby Berk’s exclusive deal with fast-growing builder includes Phoenix metro homes

Celebrity interior designer Bobby Berk has entered into an exclusive design and model home collaboration, including in metro Phoenix.

8 hours ago

(Pexels Photo)...

Brandon Gray

Construction on The Shops at Lake Pleasant in Peoria underway

Construction on The Shops at Lake Pleasant in Peoria has started, the shopping center owner Vestar announced in a press release Friday. 

1 day ago

(Tim Hacker/ Mesa Public Schools)...

KTAR.com

ADHS offering free drinking water lead screening for schools, child care facilities

The Arizona Department of Health Services is offering free drinking water lead screening opportunities for schools and child care facilities as part of a nationwide program.

1 day ago

Arizona Rep. Stephanie Stahl Hamilton (Arizona State Legislature and Pixabay Photos)...

Brandon Gray

Arizona Rep. Stahl Hamilton violated House rules by hiding bibles, Ethics Committee finds

The Arizona House Ethics Committee released its findings Friday on an ethics complaint filed against State Representative Stephanie Stahl Hamilton.  

1 day ago

Sponsored Articles

...

DAY & NIGHT AIR CONDITIONING, HEATING AND PLUMBING

Here are the biggest tips to keep your AC bill low this summer

PHOENIX — In Arizona during the summer, having a working air conditioning unit is not just a pleasure, but a necessity. No one wants to walk from their sweltering car just to continue to be hot in their home. As the triple digits hit around the Valley and are here to stay, your AC bill […]

(Photo: OCD & Anxiety Treatment Center)...

OCD & Anxiety Treatment Center

Here’s what you need to know about OCD and where to find help

It's fair to say that most people know what obsessive-compulsive spectrum disorders generally are, but there's a lot more information than meets the eye about a mental health diagnosis that affects about one in every 100 adults in the United States.

(Desert Institute for Spine Care in Arizona Photo)...

Desert Institute for Spine Care in Arizona

5 common causes for chronic neck pain

Neck pain can debilitate one’s daily routine, yet 80% of people experience it in their lives and 20%-50% deal with it annually.

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