6602 N 40TH Street, Paradise Valley, AZ 85253

$3,888,800

Property Type: Residential Bedrooms: 5 Baths: 5 Square Footage: 6,173 Lot Size (sq. ft.): 47,027 Status: Active

Current Price: $3,888,800 Last Modified: 2/07/2025

Description

**Exciting Opportunity: Mid-Construction Hillside Retreat! ** This unique property in the prestigious 85253 area, with stunning mountain views, is about 30% complete and includes all permits, plans, and designs. Priced at $3.888 million ($629/sq ft). The remaining remodel budget is $1 million, with a potential resale value of around $5.5 million ($890/sq ft, with comps closer to $950-$1,000/sq ft), offering savvy investors an expected profit of **$600k** upon completion. No HOA and lot over 1 acre! Envision your dream home in this tranquil hillside setting, and while construction is continuing, we are open to various exit strategies. This property presents numerous possibilities for your vision. Don't miss out on this rare chance to create a picturesque retreat in the hillside!

More Information MLS# 6816774

Contract Information

Status Change Date: 2025-02-06 List Price: $3,888,800 Status: Active Current Price: $3,888,800 List Date: 2025-02-06 Type: ER Ownership: Fee Simple Co-Ownership (Fractional) Agreement YN: No

Location Tax Legal

House Number: 6602 Compass: N Street Name: 40TH St Suffix: Street City/Town Code: Paradise Valley State/Province: AZ Zip Code: 85253 Zip4: 3256 Country: USA County Code: Maricopa Assessor Number: 169-52-001 Subdivision: LINCOLN HEIGHTS 1-7,9-11,26-30,45-52 & TR A Tax Year: 2024

General Property Description

Dwelling Type: Single Family - Detached Dwelling Styles: Detached Exterior Stories: 1 # of Interior Levels: 1 # Bedrooms: 5 # Bathrooms: 5 Approx SQFT: 6173 Price/SqFt: 629.97 Horses: N Builder Name: Saddlewood Year Built: 1962 Lead Based Hazard Disclosure: No Approx Lot SqFt: 47027 Approx Lot Acres: 1.08 Pool: Private Only Elementary School District: Scottsdale Unified District High School District: Scottsdale Unified District Elementary School: Kiva Elementary School Jr. High School: Mohave Middle School High School: Saguaro High School

Remarks Misc

Cross Street: Lincoln dr and 40th street Directions: N. on 40th Street to property on the west (left.) Geo Lat: 33.534335 Geo Lon: -111.994917

Legal Info

Township: 2N Range: 4E Section: 7 Lot Number: 8

Architect

Architect: JBR Design

Basement

Basement Y/N: N

Items Updated

Floor Yr Updated: 2025 Floor Partial/Full: Full Wiring Yr Updated: 2025 Wiring Partial/Full: Full Plmbg Yr Updated: 2025 Plmbg Partial/Full: Full Ht/Cool Yr Updated: 2025 Ht/Cool Partial/Full: Full Roof Yr Updated: 2025 Roof Partial/Full: Full Kitchen Yr Updated: 2025 Kitchen Partial/Full: Full Bath(s) Yr Updated: 2025 Bath(s) Partial/Full: Full Rm Adtn Yr Updated: 2025 Rm Adtn Partial/Full: Full Pool Yr Updated: 2025 Pool Partial/Full: Full

Parking Spaces

Garage Spaces: 3 Slab Parking Spaces: 8 Total Covered Spaces: 3

Showing Notification Methods

Showing Service: Aligned Showings

Property Features

Special Listing Cond: N/A Architecture: Santa Barbara/Tuscan Master Bathroom: Full Bth Master Bdrm; Separate Shwr & Tub; Bidet Fireplace: 1 Fireplace; Gas Fireplace; Exterior Fireplace Flooring: Tile; Wood Windows: Dual Pane; ENERGY STAR Qualified Windows Pool Features: Private; Heated Spa: Private Dining Area: Formal Kitchen Features: Range/Oven Gas; Built-in Microwave; Pantry; Walk-in Pantry; Kitchen Island Laundry: Gas Dryer Hookup; Other; See Remarks Other Rooms: Bonus/Game Room Features: Fix-Up Needs Repair; Skylight(s); Vaulted Ceiling(s); 9+ Flat Ceilings Exterior Features: Built-in BBQ; Patio; Storage Construction: Block Const - Finish: Painted; Stucco; Stone Construction Status: Under Construction Roofing: Foam Cooling: Refrigeration; ENERGY STAR Qualified Equipment Heating: Ceiling; Natural Gas; ENERGY STAR Qualified Equipment Plumbing: Gas Hot Water Heater Utilities: SRP; SW Gas Water: Pvt Water Company Sewer: Septic Tank Fencing: Wrought Iron; Block Landscaping: Desert Front; Desert Back; Irrigation Front; Irrigation Back Lockbox Type: None Possession: Close of Escrow Association Fee Incl: No Fees Existing 1st Loan: Private; Other (See Remarks) New Financing: Cash Disclosures: Seller Discl Avail

Room Information

Master Bedroom Level: Main Bedroom 2 Level: Main Bedroom 3 Level: Main Bedroom 4 Level: Main Bedroom 5 Level: Main Office Level: Main Living Room Level: Main Dining Room Level: Main Kitchen Level: Main

Listing Office: The Ave Collective

Last Updated: February - 07 - 2025

6602 N 40TH Street, Paradise Valley, AZ 85253 (MLS# 6816774)