Pacaso, a tech-enabled marketplace that helps people buy and co-own a luxury second home, has purchased its second property in metro Phoenix — this time from "Malcolm in the Middle" child star Frankie Muniz.

The home closed for $4.8 million, a bit less than its listing price of $4.9 million.

San Francisco-based Pacaso now has the home at 8307 E. Gary Road, Scottsdale, listed for $746,000 per share.

This type of arrangement isn't a timeshare; instead it allows co-owners to book stays throughout the year, depending on the portion of share purchased. Pacaso actually prohibits homeowners from renting the home — short-term and long-term rentals are not allowed. Only owners and their guests are allowed to occupy a Pacaso home.

Joe Maehler, chief acquisitions officer for Pacaso, said he looks for homes that are high end, are turnkey and offer premium amenities and modern conveniences.

The home is in a prime location near the Waste Management Phoenix Open golf tournament site, Barrett-Jackson and Scottsdale Quarter.

"Owners of this property are going to be surrounded by shopping, amazing restaurants, golf, and anything else they may need in the heart of Scottsdale," he said.

Click here for a peek into the home:

By Angela Gomez - Senior Reporter, Phoenix Business Journal
July 24th, 2022.