A giant piece of The Mountain can be yours for $21M

Aug. 10—Ahwatukee Realtor and resident Tom Wolf was just doing his job one day last month when he made a surprising discovery: 15 to 20 separate parcels of privately owned land are sprinkled amid the mostly city-owned eastern side of South Mountain.

Even more surprising is the fact that three parcels totaling about 80 acres are now on the market.

They're located in a valley above Promontory, Ahwatukee's highest and westernmost community that was built by Taylor Morrison and where only one home — a 3,905-square-foot, five-bedroom house priced at $1.2 million — appears to be on the market.

The problem: It would take a lot of work and a lot of money to build a home above Promontory.

"It would require infrastructure," Wolf said. "Currently the closest utilities would be those that were put in for Promontory. There would also need to be extensive work done for roads, lot development, hillside preservation, etc."

The three properties do appear to have guaranteed access through Promontory, he added.

Two of the three parcels, totaling 53 acres, are being offered by Century 21 Toma Brothers for $15 million while a third adjoining 27.7-acre parcel is priced at $6 million.

The three are the only ones on the market and the others, some as small as 1.5 acres, don't appear to offer connectivity to utilities or even to an access road, Wolf said.

Wolf was surprised when he discovered the three parcels put on the market early last month.

He came across them as part of his job as president of commercial real estate for West USA Realty in Ahwatukee.

"I have land buyers and I track everything, especially in Ahwatukee because I live in Ahwatukee" he explained.

"So I saw these pop up the other day and I immediately started investigating them."

"I think it will surprise a lot of people that this is actually not a part of the park," he said. "People don't really understand that whole little valley right there is privately owned. I think it even surprised me, like how far east up into that little valley between the ridges that goes."

He's also surprised that the owners of at least one of the three parcels up for sale "actually secured easement access through Promontory."

"I don't know exactly what that would look like, how that would work, because you've got gates and people in Promontory paid for a gated community," Wolf said.

"I don't know how they would then allow another community to pass through there. But that's what they've done."

Theoretically, at the current zoning, the parcels could probably accommodate up to 105 homes, Wolf said.

"That said, because of the topography of those lots, the reality is that the number would probably be much smaller, perhaps as few as 50 to 60 homes," he added.

The listings for the two properties being offered together paint an enthusiastic picture of their location.

"Undeniably, this is the most coveted natural landscape in the heart of the Sonoran Desert and within 10 miles to the downtown Phoenix area," they state. "Thriving with high demand and strong property values, this pristine topographic canvas is being presented to market.

"Neighboring South Mountain ParkPreserve is over 16,000 acres, and one of the largest municipally managed parks in the nation consisting of three mountain ranges (Ma Ha Tauk, Gila and Guadalupe) which cradle the offered parcels providing protection from the elements and an enclave for serenity.

"Here, engage in outdoor activities to re-energize, and re-connect with the natural world while cultivating and preserving.

"This parcel is one of three which can be separated from the grouping. A development opportunity whether for an individual, investment group, or other seeking the breathtaking radiance only the natural world can provide to incorporate into a public or private offering is now available to own."

The descriptions for the other two parcels are virtually identical.

Of the other smaller parcels, Wolf said, "Some of them are more like 2-acre parcels back there ... that would be more conducive to somebody just building their own house back there versus a developer buying that."

Wolf said no one so far has contacted him about the three listed parcels since he posted his discovery on social media about a month ago. Century 21 did not return a call for comment.

But given the fact that open land in the Valley of the Sun is disappearing faster than a raindrop in an Arizona summer, the land may offer a golden opportunity to someone with pretty deep pockets.

Asked if this might be a bargain, Wolf replied:

"I think that the number of unknowns in terms of development cost, utility costs and buildability of the land would indicate that getting this price will be a challenge.

"The cost for this purchase would be $250,000 an acre. As a point of comparison, a build-ready, level lot with utilities in the nearby gated community of Calabrea recently sold for $150,000 an acre."

In any event, anyone who wants to learn more can call Wolf at 602-332-5507 or tom@movingtophoenixaz.com. His website is MovingToPhoenixAZ.com.