SCOTTSDALE, Ariz. - If you purchase a certain piece of land off Old Mine Rd. in North Scottsdale, just north of Cave Creek, you will literally be sitting on a gold mine.

Preston Westmoreland with Russ Lyon Sotheby's International Realty is selling the old Gold Hill gold mine along with 117 acres of land.

"This is the largest parcel of land available in Scottsdale and it's patented land," said Westmoreland.

The land also features a natural spring and goes up to 4,800 feet.

The main attraction though, the old gold mine.

"In the 1870s, a man named William Rowe discovered gold here, and almost immediately the San Francisco Chronicle had an article out that said, 'Gold discovered in Arizona,' and it set off a mini gold rush," said Westmoreland.

Eventually a small village formed at the site.

"They built a bunk house, a boarding house, blacksmith shop and an assay office," said Westmoreland.

Behind a door with a heavy duty lock, sits the labyrinth of tunnels that hundreds of miners chiseled away by hand.

"There's at least 30 different layers of tunnels inside this mountain that go hundreds of feet down and hundreds of feet up," said Westmoreland.

The tunnels follow the old fault line where the gold was pulled from the 1870s through the 1930s.

“If you got down there and restored the mine and opened it up, you could safely say there’s $60 million worth of gold left in these rocks," said Westmoreland.

More than 100 acres of land, the mine, and mineral rights associated with the land are all for sale for $2.79 million.

For more information, visit www.luxurydeserthideaways.com/goldhill.