The most expensive home that sold in Arizona last week was a $1.8 million dollar bank owned foreclosure! Located in the highly sought after and exclusive Biltmore Estates neighborhood in Phoenix, Arizona these homes don't come on the market very often. This is the reason why a buyer would open up their pocket books to buy almost a 2 million dollar fixer-upper! Centrally located to Phoenix, Scottsdale, and Paradise Valley the Biltmore area of Phoenix is home to the Arizona Biltmore, a Waldorf Astoria Resort and golf club which has been a famous and historic icon of Phoenix since 1929.
Built in 1982 and around 5,600 square feet this home needs a total renovation. The cedar shingled roof, red brick exterior, and dark and gloomy interior shows this homes age. There are some redeeming features of the home however, including wine storage, solid hardwood floors which can be easily refinished, a loft/library, game room, and an entertainers backyard complete with a pool, spa, and waterfall features. The buyer certainly knew what they were getting themselves in to when they purchased this home but fully renovated, this property could fetch upwards of $3.5 to $4 million dollars. This was not a cash transaction but that doesn't necessarily rule out that this is a savvy investor who has plans to turn this in to the next multi-million dollar flip project. Click on the picture below for the full MLS listing:
Location: Phoenix
Size: 5,619 sqft
Bedrooms: 5
Bathrooms: 6.5
Lot size: 35,362 sqft
If you are in the luxury home market and want a list of luxury homes available in Arizona, contact us at ZionRealtyAZ.com. We'd love to help you find your dream home!
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