Residential Land with Home for Sale in Paradise Valley, Arizona

Set on nearly three pristine acres in the heart of Paradise Valley, 5060 E Desert Sky Lane is a true Hacienda estate where panoramic mountain views, timeless Territorial/Santa Fe architecture, and extraordinary future potential converge. Perfectly positioned on a private corner lot ,the home captures sweeping 360 degrees views of Paradise Valley's most iconic mountain ranges - Camelback Mountain, Mummy Mountain, the Phoenix Mountain Preserve, and distant McDowell Mountain vistas - visible from nearly every window and outdoor living space. Authentic old-world craftsmanship defines the residence. Dramatic wood beams span both indoor and outdoor ceilings. Hand-carved solid wood doors, rounded plaster walls, hand-forged lighting, 12 ft plus ceilings in living room, skylights, and four fireplaces create a warmth and architectural integrity rarely found today. Clerestory windows and abundant natural light enhance the connection between the home and the surrounding desert landscape. The estate is uniquely composed of a substantial main residence of over 5,000 square feet with an attached casita with kitchenette. In addition, there is a 2,400+ square foot guest house (built 2012) complete with its own garage, yard, kitchen, office, great room, laundry, and high ceilings throughout, the guest house comfortably housed the owners for over a year during renovations offering exceptional flexibility for guests, multi-generational living, or a private retreat. Inside the main home, thoughtful updates blend seamlessly with the property's architectural character. The renovated kitchen features new appliances, dual dishwashers, granite counters, mesquite cabinetry, an oversized island, and a butler's pantry, opening to expansive covered patios designed for effortless indoor-outdoor living. Additional spaces include a dedicated library, gym, private guest wing with its own living area and patio, and multiple en-suite bedrooms positioned to capture mountain views. The primary suite is a retreat of its own, showcasing views of Mummy Mountain and the McDowells & private access to the pool and spa. Outdoors, the property unfolds into a private desert compound designed for both entertaining and recreation. Amenities include a heated oversized pool, pickleball/sports court, fire pit with banco seating, desert greenery, circular paver drive, gated courtyard entry with fountain, and parking for 20+ guests. The estate offers ample room to add additional garages or structures for the car enthusiast. With acreage that is increasingly rare in Paradise Valley, authentic Territorial architecture that cannot be replicated, and uninterrupted mountain views in every direction, 5060 E Desert Sky Lane represents not only a beautiful residence but a remarkable canvas for expansion, reimagination, or the creation of a legacy estate unlike anything else in the Valley.