A sprawling house located some 13 miles to the northeast of downtown Phoenix is now on the market with a listing price of $28.9 million.
Located in the town of Paradise Valley at 5185 N. Saguaro Road, the home belongs to former Arizona Coyotes hockey team owner Alex Mereulo and his wife Liset, who purchased the 9.1-acre property in 2021 for $12.1 million.
According to the site Redfin, the property was valued at $3.4 million in early 2020.
Everything about the property overlooking the Camelback Mountains is lavish: the mansion itself measures around 14,800 square feet and includes eight bedrooms, a two-story library, a courtyard, and a gym with sauna.
The front of the property, notes the publication Mansion Global, features a “long driveway lined with more than 65 mature olive trees.” The larger site is also populated with a single apartment, three guesthouses, a green house, watch tower, and both a swimming pool and tennis courts.
The property is being listed with the Phoenix-based Realty One Group.
Meruelo is the owner of the Mereulo Group and owns several radio and television stations in the big Los Angeles market, as well as two casinos in Nevada. He became the majority owner of the Coyotes in 2019 but sold his interest earlier this summer.
Although the population of Paradise Valley has remained relatively small with around 12,600 residents, according to the last U.S. Census count, the average price of a home in the town has increased by more than 10% in just the last year alone and now stands at $3.2 million.
The site Go Banking Rates this summer listed Paradise Valley as the fifth wealthiest suburb in the country, with an average income of $385,000.
December 3, 2024
By Garry Boulard
Photo courtesy of Pixabay
