$3,286,000
Prescott, AZ 86303
MLS# 1082558
8143 sqft
1 / 8
Property Description
Prime investment opportunity in the heart of Downtown Prescott. The Pillars, located at 320 S. Cortez Street, is a historic 17-unit multifamily property featuring 7 studio and 10 one-bedroom apartments in a highly desirable, walkable location near Courthouse Square, shopping, dining, entertainment and local events. The approximately 10,000 SF brick-and-concrete building sits on 0.34 acres and offers historic architectural character, with select units featuring original hardwood flooring. Several units have been updated, providing additional opportunity to renovate remaining units and enhance rental income. Property amenities include on-site coin-operated laundry, gated lower-level access, and private parking. Some units offer city and mountain views. The desirable unit mix established rental history and prime downtown location make this a compelling opportunity for investors seeking a well-positioned multifamily asset with value-add potential. 17 Units | 7 Studios | 10 One-Bedrooms | Approx. 10,000 SF | 0.34 Acres For additional information or to schedule a private showing, contact Michael Aldridge at 602-762-4830. This exceptional opportunity won't last long. Historical significance of the Pillars is outlined in the More... section. Title is being held open see private remarks.
Details
Maps
Contract/Address/Legal
List Price/SqFt: 404
Rent/Lease: No
REO/Short Sale: Not Applicable
Zoning: residential
Assessor's Book #: 109
Assessor's Map #: 3
Assessor's Parcel #: 16
Assessor Parcel Ltr: c
Legal: PRESCOTT ORIGINAL TOWNSITE PER MP 4/22 LOT 7 & 9 BLK 26 LESS THE N 8' OF THE E 52.2'
General Property Description
Aprx Acres: 0.34
Lot #: 7
Lot Size: 14,810
Bedrooms Possible: 17
HOA Y/N: No
Buildings: 1
Source of Measuremnt: County Assessor
Management: Mgmt Company
Gross Vol/Yr $: 254579
Vac Rate %: 5
CAM $: 0
Solar Y/N: No
More than 5 Units: Yes
Total Liveable SqFt: 8143
Year Built: 1942
NOI $: 182003
Cap %: 5.54
Baths - Full: 17
Tax Info
Taxes: 2950
Assessments $: 0
Tax Year: 2025
Remarks & Misc
Directions: From the Court house Plaza, on the corner of Gurley st and Cortez street. Go South on Cortez street approximately .3 of a mile and you will see the building on the right side of Cortez street.
Remarks: Prime investment opportunity in the heart of Downtown Prescott. The Pillars, located at 320 S. Cortez Street, is a historic 17-unit multifamily property featuring 7 studio and 10 one-bedroom apartments in a highly desirable, walkable location near Courthouse Square, shopping, dining, entertainment and local events.
The approximately 10,000 SF brick-and-concrete building sits on 0.34 acres and offers historic architectural character, with select units featuring original hardwood flooring. Several units have been updated, providing additional opportunity to renovate remaining units and enhance rental income.
Property amenities include on-site coin-operated laundry, gated lower-level access, and private parking. Some units offer city and mountain views. The desirable unit mix established rental history and prime downtown location make this a compelling opportunity for investors seeking a well-positioned multifamily asset with value-add potential.
17 Units | 7 Studios | 10 One-Bedrooms | Approx. 10,000 SF | 0.34 Acres
For additional information or to schedule a private showing, contact Michael Aldridge at 602-762-4830.
This exceptional opportunity won't last long. Historical significance of the Pillars is outlined in the More... section.
Title is being held open see private remarks.
Office/Member Info
Listing Exclusions: No
Building Type
5+ Units: 1
Construction
Brick: 1
Cooling
Ceiling Fan(s): 1
External Amenities
Laundry Facilities: 1
Flooring
Laminate: 1
Tile: 1
Vinyl: 1
Wood: 1
Heating
Baseboard: 1
Electric: 1
Owner Pays
Electric: 1
Gas/Propane: 1
Sewer: 1
Trash: 1
Water: 1
Records Available
None: 1
Road Frontage Type
City Street: 1
Road Surface Type
Alley Paved: 1
Asphalt: 1
Paved: 1
Road Responsibility
City Maintained Road: 1
Roof
Asphalt Shingle: 1
Terms & Conditions
1031 Exchange: 1
Conventional: 1
Utilities Installed
220: 1
Cable TV: 1
Electricity: 1
Natural Gas: 1
Telephone: 1
Water - City: 1
Water Heater
Central Boiler: 1
Electric: 1
Natural Gas: 1
Unit 1
# BR: 17
# BA: 17
ContractAddressLegal
Original List Price: 3286000
Listing Date: 2026-06-03
Status: Active
Listing Price: 3286000
Street #: 320
Direction: S
Street Name: Cortez
St Suffix: Street
City/Township: Prescott
State: AZ
Zip Code: 86303
Subdivision: Prescott Original Township
County: Yavapai
Tax Parcel: 109-03-016c
Property Features
Building Type: 5+ Units
Construction: Brick
Cooling: Ceiling Fan(s)
External Amenities: Laundry Facilities
Flooring: Laminate; Tile; Vinyl; Wood
Heating: Baseboard; Electric
Owner Pays: Electric; Gas/Propane; Sewer; Trash; Water
Records Available: None
Road Frontage Type: City Street
Road Surface Type: Alley Paved; Asphalt; Paved
Road Responsibility: City Maintained Road
Roof: Asphalt Shingle
Utilities Installed: 220; Cable TV; Electricity; Natural Gas; Telephone; Water - City
Water Heater: Central Boiler; Electric; Natural Gas
Supplements
The Pillars Apartments, Historical significance.
Research confirms The Pillars apartment building at 320 S. Cortez St. was constructed in 1919 and is located within the historic downtown area of Prescott, Arizona. While it is not individually listed as a National Register Historic District property, its age and location make it a contributing element to the city's broader historical character. The building's significance is primarily as an early-20th-century residential structure in the original township of Prescott.
Early 20th-century construction
" Built in 1919, the building represents an early period of multi-family housing development in Prescott, following the city's incorporation in 1864.
" The property's age and use illustrate the city's growth and development beyond its initial territorial-era structures and residences, a period defined by mining and political activity.
Contribution to Prescott's historic fabric
" The building's location on S. Cortez Street places it within the historically significant downtown area, close to landmarks like the Yavapai County Courthouse Plaza and the surrounding commercial district. This area is known for its well-preserved early 20th-century architecture.
" The presence of multi-family residences like The Pillars in the downtown area reflects the mixed-use nature of early American cities, where residential, commercial, and government buildings coexisted in close proximity.
" The building's original hardwood floors and classic architectural features, mentioned in property records, are characteristic of its era and provide a tangible link to Prescott's architectural history.
Context within Prescott's historic preservation efforts
" The City of Prescott has an active Historic Preservation program, overseen by a commission, to protect its historic resources.
" While The Pillars may not have a specific individual designation, it is situated in a neighborhood that has been historically valued for its character. The example is the nearby Fleury's Addition, which is recognized for its middle-class architecture from the early 1900s.
The Pillars fits within this general context of early 20th-century urban residential development. Ultimately, The Pillars is historically significant for being a surviving example of early 20th-century downtown residential architecture in Prescott, contributing to the overall historic character of the original township.
Listing Office: Delex Realty
Last Updated: August - 23 - 2026
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