Imagine flipping a stunning Paradise Valley estate and turning a $12.1 million purchase into a jaw-dropping $30 million sale in just four years. That’s exactly what Cuban-American billionaire and former Arizona Coyotes owner Alex Meruelo achieved with his sprawling hacienda-style home. Nestled on nine lush acres, this property is much more than a luxury residence—it’s a blend of elegant design, savvy investment, and a story of high-stakes real estate in Arizona’s elite market.
Property Overview
The Hacienda Masterpiece
The Alex Meruelo Paradise Valley house is an impressive hacienda-style estate originally built in 1972. Spanning 22,000 square feet—including a 15,000 sq ft main residence plus two guest houses—this home features 15 bedrooms and 16 bathrooms. It sits within a gated 9-acre property, one of the largest and most exclusive lots in Paradise Valley.
Key Features at a Glance
FeatureDetails
Size 22,000 sq ft total on 9 acres
Purchase Price $12.1 million (2021)
Sale Price $30 million (2025)
Profit $17.9 million in 4 years
Buyer Oasis Sereno LLC (linked to Jordan Peterson)
This estate ranks among Arizona’s priciest sales, approaching the $33.5 million record set for a Paradise Valley property. Its location near Camelback Mountain offers stunning desert views and an elite neighbourhood.
Exterior & Grounds
A Desert Oasis Like No Other
The expansive grounds surrounding the Meruelo estate are a key driver of its value. Over 100 olive trees and 20 fruit trees create a verdant, Mediterranean atmosphere uncommon in Arizona’s desert climate. Adding to this lush setting is a 1,900-square-foot greenhouse, a rare luxury that sustains greenery year-round despite the arid environment.
Security and Privacy
Privacy is paramount here. The gated 9-acre estate ensures seclusion from neighbours and the public eye. The extensive olive groves and carefully maintained landscaping enhance the sense of an exclusive retreat, which is highly coveted among Paradise Valley’s elite.
Value Behind the Land
One of the secrets behind the $30 million price tag is the land itself—comparable lots in Paradise Valley, especially large ones over several acres, command Premium prices. The unique combination of size, location, and landscaping makes this estate a rare find in a market where land scarcity is driving up costs.
Interior Highlights
Renovated Elegance Meets Rustic Charm
Step inside, and you’ll find a masterful blend of modern luxury and rustic heritage. The interior features reclaimed Pennsylvania barn wood floors and exposed beams, creating a warm, inviting atmosphere. A standout centrepiece is the Mexican cathedral stone fireplace, which adds historic character while providing grand scale and warmth.
Spacious Living Areas
The main house’s 15,000 sq ft open spaces are designed for both comfort and entertaining. From expansive living rooms to formal dining areas, every corner balances elegance with a relaxed hacienda vibe. Large windows invite natural light and frame panoramic views of the desert and mountains.
Guest Houses for Family and Friends
Two additional guest homes on the property offer privacy and convenience for visitors or extended family. Each guest house is fully equipped with bedrooms and bathrooms, making the estate ideal for hosting and multi-generational living.
Luxury Features at a Glance
- Custom fireplaces and exquisite woodwork add artistic touches throughout the home.
- Expansive bedrooms and bathrooms ensure comfort and space for residents and guests alike.
- Preservation of the original 1972 architecture, paired with modern upgrades, creates a unique living experience that respects heritage while embracing luxury.
Sale Secrets Revealed
Timeline of the Flip
Alex Meruelo purchased the property in 2021 during his tenure as Coyotes owner. Following challenges with arena development and his decision to sell the team, he listed the house in November 2024 for $28.9 million. The deal closed in May 2025 for $30 million, marking a swift, highly profitable turnaround.
What Fueled the Profit?
Several factors contributed to the impressive $17.9 million profit:
- Renovations that enhanced the home’s appeal and livability.
- A booming Arizona luxury real estate market, especially post-pandemic, with increased demand for spacious estates.
- The scarcity of large, private parcels like this 9-acre lot in Paradise Valley.
Buyer Buzz
The buyer, Oasis Sereno LLC, has links to Canadian psychologist Jordan Peterson through family connections. This purchase is part of a reported $50 million-plus investment spree in the Phoenix area, highlighting the growing interest of out-of-state investors in Arizona’s luxury market.
Market
This sale ranks as the second-highest home sale ever in Arizona, just shy of the $33.5 million record. It reflects a strong appetite for exclusive luxury properties with unique features and prime locations.
Lifestyle in Alex Meruelo House
A Desert Retreat for an NHL Owner
For Meruelo, this property served as more than a home—it was a retreat where business, family, and leisure converged. Hosting family gatherings, business meetings, and events related to his sports ventures, the estate offered privacy and luxury in one package.
Paradise Valley: A Celebrity Haven
The area attracts athletes and celebrities like Devin Booker and Larry Fitzgerald, who appreciate the privacy, stunning views, and proximity to Phoenix’s vibrant sports scene. Meruelo’s property fits perfectly within this lifestyle, combining exclusivity with convenience.
Paradise Valley Market Insights
Luxury Market Trends
Paradise Valley remains one of the hottest luxury real estate markets in Arizona. Record-breaking sales, including estates exceeding 20,000 square feet, define the current landscape. Buyers are seeking spacious properties with privacy and unique features.
Investment Tips
Meruelo’s 150%-plus return in under four years highlights the flip potential in Paradise Valley. Investors looking for similar opportunities should focus on:
- Properties with large lots and unique landscaping
- Homes that blend historic charm with modern upgrades
- Areas with limited inventory, where scarcity drives value
Where Does Alex Meruelo Currently Live?
Alex Meruelo, the Cuban-American billionaire and former Arizona Coyotes owner, no longer resides at his primary Paradise Valley, Arizona mansion, which he sold in May 2025 for $30 million after purchasing it in 2021 for $12.1 million. He retains ownership of other upscale properties in Paradise Valley, including homes at 5102 North Wilkinson Road (where his son lives), 6116 North 38th Place, and 6305 East McDonald Drive.
