$1,040,000
Prescott, AZ 86301
MLS# 1035067
Status: Closed
4563 sqft
1 / 16
Property Description
The Willis Commons is an 8-unit apartment complex that is being offered For Sale at $1,095,000 which is $136,875/unit and a 7.0% going in Cap Rate. The property is a 2-story interior walk-up complex and is comprised of +/-4,563 sf. This building was originally constructed in 1900 and has undergone various renovations, upgrades, and modernizations in the recent past. The property is situated on the southwest corner Willis & Alarcon on a .06 acres with street frontage and viability from both streets and is only a few blocks from the Courthouse Square. All units include a refrigerators, microwaves, cooktops, a kitchen sink and electric heaters. Each unit ranges in size from approx. 300 sf to 700 sf with a unit mix of 6 studios and two 1-bedroom units. All utilities including internet and cabl
Details
Maps
Contract/Address/Legal
List Price/SqFt: 240
Rent/Lease: Yes
REO/Short Sale: Not Applicable
Zoning: DTB
Assessor's Book #: 113
Assessor's Map #: 16
Assessor's Parcel #: 67
Legal: PRESCOTT E 52.8' LOT 1 BLK 10 AP1
General Property Description
Aprx Acres: 0.06
Lot #: 1
Lot Size: 2582
Source of Measuremnt: County Assessor
Stories: 2
Management: Owner
More than 5 Units: Yes
Total Liveable SqFt: 4563
Year Built: 1945
Baths - Full: 8
Tax Info
Taxes: 2303
Tax Year: 2020
Remarks & Misc
Directions: From downtown Prescott head east on gurley st. Turn Left on Alacron and go 1 block to Willis St. This two story apartment complex is located on the South West Corner of E. Willis St and Alarcon.
Remarks: The Willis Commons is an 8-unit apartment complex that is being offered For Sale at $1,095,000 which is $136,875/unit and a 7.0% going in Cap Rate. The property is a 2-story interior walk-up complex and is comprised of +/-4,563 sf. This building was originally constructed in 1900 and has undergone various renovations, upgrades, and modernizations in the recent past. The property is situated on the southwest corner Willis & Alarcon on a .06 acres with street frontage and viability from both streets and is only a few blocks from the Courthouse Square. All units include a refrigerators, microwaves, cooktops, a kitchen sink and electric heaters. Each unit ranges in size from approx. 300 sf to 700 sf with a unit mix of 6 studios and two 1-bedroom units. All utilities including internet and cabl
Status Change Info
Sold Price/SqFt: 228
Financing: Conventional
Under Contract Date: 2020-12-29
Sold Date: 2021-03-03
Sold Price: $1,040,000
Building Type
5+ Units: 1
Other - See Remarks: 1
Construction
Block: 1
Brick: 1
Cooling
Ceiling Fan(s): 1
Other: 1
See Remarks: 1
External Amenities
Landscaped: 1
Laundry Facilities: 1
Other - See Remarks: 1
Flooring
Carpet: 1
Vinyl: 1
Heating
Other: 1
See Remarks: 1
Owner Pays
All: 1
Other - See Remarks: 1
Possession
At Recordation: 1
Records Available
None: 1
Road Frontage Type
City Street: 1
Road Surface Type
Paved: 1
Road Responsibility
City Maintained Road: 1
Roof
Asphalt Shingle: 1
Other - See Remarks: 1
Utilities Installed
Cable TV: 1
Electricity: 1
Master Meter: 1
Natural Gas: 1
Telephone: 1
Water - City: 1
WWT - City Sewer: 1
Water Heater
Central Boiler: 1
Natural Gas: 1
ContractAddressLegal
Original List Price: 1095000
Listing Date: 2020-12-28
Status: Closed
Listing Price: 1095000
Street #: 223
Direction: E
Street Name: Willis
St Suffix: Street
City/Township: Prescott
State: AZ
Zip Code: 86301
County: Yavapai
Tax Parcel: 113-16-067
Property Features
Building Type: 5+ Units; Other - See Remarks
Construction: Block; Brick
Cooling: Ceiling Fan(s); Other; See Remarks
External Amenities: Landscaped; Laundry Facilities; Other - See Remarks
Flooring: Carpet; Vinyl
Heating: Other; See Remarks
Owner Pays: All; Other - See Remarks
Possession: At Recordation
Records Available: None
Road Frontage Type: City Street
Road Surface Type: Paved
Road Responsibility: City Maintained Road
Roof: Asphalt Shingle; Other - See Remarks
Utilities Installed: Cable TV; Electricity; Master Meter; Natural Gas; Telephone; Water - City; WWT - City Sewer
Water Heater: Central Boiler; Natural Gas
Supplements
The Willis Commons is an 8-unit apartment complex that is being offered For Sale at $1,095,000 which is $136,875/unit and a 7.0% going in Cap Rate. The property is a 2-story interior walk-up complex and is comprised of +/-4,563 sf. This building was originally constructed in 1900 and has undergone various renovations, upgrades, and modernizations in the recent past. The property is situated on the southwest corner Willis & Alarcon on a .06 acres with street frontage and viability from both streets and is only a few blocks from the Courthouse Square. All units include a refrigerators, microwaves, cooktops, a kitchen sink and electric heaters. Each unit ranges in size from approx. 300 sf to 700 sf with a unit mix of 6 studios and two 1-bedroom units. All utilities including internet and cable TV are included with the rent. Property amenities include 2 sets of guest coin operated laundry machines, 2 storage rooms and ample street parking adjacent to the property. The property enjoys an excellent rental history and stays full due to its convenient downtown Prescott location. Residences typically leased on either 6 month or 1-Year leases with security deposits and one month's rent paid in advance. There is currently a waiting list for rooms at the property.
Listing Office: Better Homes And Gardens Real Estate Bloomtree Realty
Last Updated: June - 20 - 2023
The data relating to real estate for sale on this site comes from the Broker Reciprocity/IDX of Prescott Area Association of REALTORS. Information provided is thought to be reliable but is not guaranteed to be accurate. IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.Real estate listings held by brokerage firms other than the website owner, are indicated by detailed information about them such as the name of the listing firms. Copyright© 2020 Prescott Area Association of REALTORS. All rights reserved.