$19,800,000
Seller will provide 10% of purchase price as a concession to Buyer. Seller says bring all offers! There is ultra-luxury, and then there is this true Unicorn, Statement Property, and Trophy Estate. This award-winning, completely rebuilt, corner golf green home is located in the most expensive neighborhood in the Southwest United States. In addition to the five centerpiece Unicorn features described below, this Legacy home's Unicorn status is underscored by its designation as the #1 Single-Family Home rental in Arizona with $51K in monthly rental revenue. This turnkey home's distinguished prior vacation rental tenants include A-list celebrities, superstars, and even billionaire tenants arriving in personal helicopters while renting this home. This Santa Barbara estate occupies the best lot in the heart of a storied Paradise Valley neighborhood, where homes that have sold for $15M+ would rent for less than half this home's rental revenue of approximately $51K per month. Therefore, this Unicorn home is a monetized hard asset. The difference in the valuation of a monetized hard asset (for example, Facebook with advertising revenue) and an unmonetized hard asset (for example, Facebook without advertising revenue) is night and day.
The standard ultra-luxury market's Cap Rate of 2% and NOI of $400K yield a home valuation of $400K/0.02=$20M. This $20M is a conservative estimate because it does not take into account the huge premium for the following five Unicorn centerpiece features that no other home in the world has: (1) Floodlit Championship Golf Green for Night Golf: This is the only home with the ability to play night golf and evening golf on a floodlit championship golf green with direct frontage on a championship golf green, instead of an artificial putting green in an ordinary backyard. (2) Prime Corner Location: Home and corner golf green lot are elevated in height with only one adjacent neighbor and private security patrol in the heart of Paradise Valley's acclaimed subdivision in this Audubon Bird Sanctuary designated area. This home towers over all other homes in the neighborhood with expansive 360-degree golf green, golf course, and mountain views from the home's 32 massive UV-protected double-paned picture windows, 20 glass French doors, and 3 colossal balconies and view decks. (3) Direct frontage on a Championship Golf Green with dynamic views of birds and birdies. Less than 1% of Golf Course homes are Corner Golf Green homes. (4) Mountain views of both Mummy Mountain and McDowell Mountains. This home has beautifully landscaped, peaceful grounds with 27 palm, citrus, and eucalyptus trees. (5) Extreme privacy with true indoor-outdoor resort-style living because of the interior, palatial courtyard (enclosed on all four sides) with a Roman skinny-dipping pool, Grecian columns, Finnish Sauna, and a Tournament-sized 12-foot snooker table imported from a castle in England, located in an Arizona Room with motorized shades. Instead of buying inferior, boxy, retail-store-look-alike new construction homes, discerning and smart buyers look for Unicorns that are a great store of value when it comes to their real estate, stock, and art purchases. Lord Byron wrote: "There is pleasure in the pathless woods, there is rapture in the lonely forest, there is society where none intrudes, and music in its roar. I love not Man the less, but Nature more." These words best capture the timeless spirit and class of this beautiful Unicorn home that has won several prestigious international awards in the short-term rental world, including the coveted Airbnb Luxe status award, the highest possible Top 1% award, the Guest Favorite award, and the Gold Badge award.
5
Beds
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5
Baths
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7088025
MLS
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85253
Zip Code
7155 E Oakmont Drive, Paradise Valley