$1,400,000
Prescott, AZ 86301
MLS# 1068140
Status: Closed
5889 sqft
1 / 22
Property Description
Investment Opportunity: 20-Unit Apartment Complex in Prime Location Discover a rare value-add opportunity with this 20-unit apartment complex, ideally situated between Willow and Watson Lakes in the Dells. This property presents a unique chance for savvy investors to unlock its full potential and capitalize on a thriving rental market. Gross rent, NOI and GRM numbers are based on pro-forma. More details available for serious inquiries.
Details
Maps
Contract/Address/Legal
On-Market Date: 2024-10-14
List Price/SqFt: 272
Rent/Lease: No
Neighborhood: N/A
REO/Short Sale: Not Applicable
Zoning: RS-35 and C1-2
Assessor's Book #: 106
Assessor's Map #: 13
Assessor's Parcel #: 18
Assessor Parcel Ltr: C
Legal: AN IRREG PCL ADJ TO THE WLY R/W OF US 89 THE NORTH COR LYNG APPRO X 900' W & 1060' S FROM THE N4 COR SEC 13-14-2W CONT .87AC
General Property Description
Aprx Acres: 0.92
Lot #: na
Lot Size: 39902
Bedrooms Possible: 21
HOA Y/N: No
Buildings: 2
Source of Measuremnt: County Assessor
Stories: 1
Management: Owner
Gross Vol/Yr $: 264777
Vac Rate %: 0
CAM $: 47000
More than 5 Units: Yes
Total Liveable SqFt: 5889
Year Built: 1963
NOI $: 220777
Cap %: 13.9
Baths - Full: 20
Tax Info
Taxes: 6321
Tax Year: 2023
Remarks & Misc
Directions: 89A and Willow Lake Road
North on 89A past Lillian Lane
Turn West into driveway
If you pass Gate Road on 89A you have gone too far
Remarks: Investment Opportunity: 20-Unit Apartment Complex in Prime Location
Discover a rare value-add opportunity with this 20-unit apartment complex, ideally situated between Willow and Watson Lakes in the Dells. This property presents a unique chance for savvy investors to unlock its full potential and capitalize on a thriving rental market.
Gross rent, NOI and GRM numbers are based on pro-forma. More details available for serious inquiries.
Status Change Info
Sold Price/SqFt: 238
Financing: Conventional
Under Contract Date: 2025-01-22
Sold Date: 2025-02-28
Sold Price: $1,400,000
Building Type
5+ Units: 1
Construction
Frame - Wood: 1
Cooling
Evaporative Cooling: 1
Room Refrigeration: 1
External Amenities
None: 1
Flooring
See Remarks: 1
Heating
Baseboard: 1
Owner Pays
Gas/Propane: 1
Trash: 1
Water: 1
Possession
At Recordation: 1
Records Available
None: 1
Road Frontage Type
Highway: 1
Road Surface Type
Paved: 1
Road Responsibility
State Maintained Road: 1
Roof
Asphalt Shingle: 1
Showing Requirements
Call Listing Office: 1
Terms & Conditions
1031 Exchange: 1
Conventional: 1
Other - See Remarks: 1
Utilities Installed
220: 1
Natural Gas: 1
Water - Private Well: 1
WWT - City Sewer: 1
Water Heater
Two or More: 1
Unit 1
# BA: 1
Unit 1 Parking
1 Car: 1
Unit 1 Info
Other - See Remarks: 1
Unit 2
# BA: 1
SqFt: 224
Unit 2 Parking
1 Car: 1
Unit 2 Info
Other - See Remarks: 1
Unit 3
# BA: 1
SqFt: 384
Unit 3 Parking
1 Car: 1
Unit 3 Info
Other - See Remarks: 1
ContractAddressLegal
Original List Price: 1599999
Listing Date: 2024-10-10
Status: Closed
Listing Price: 1599999
Street #: 3220
Direction: N
Street Name: State Route 89
City/Township: Prescott
State: AZ
Zip Code: 86301
County: Yavapai
Tax Parcel: 106-13-018C
Property Features
Building Type: 5+ Units
Construction: Frame - Wood
Cooling: Evaporative Cooling; Room Refrigeration
External Amenities: None
Flooring: See Remarks
Heating: Baseboard
Owner Pays: Gas/Propane; Trash; Water
Possession: At Recordation
Records Available: None
Road Frontage Type: Highway
Road Surface Type: Paved
Road Responsibility: State Maintained Road
Roof: Asphalt Shingle
Showing Requirements: Call Listing Office
Utilities Installed: 220; Natural Gas; Water - Private Well; WWT - City Sewer
Water Heater: Two or More
Unit 1 Parking: 1 Car
Unit 1 Info: Other - See Remarks
Unit 2 Parking: 1 Car
Unit 2 Info: Other - See Remarks
Unit 3 Parking: 1 Car
Unit 3 Info: Other - See Remarks
Listing Office: Prescott Commercial Real Estate
Last Updated: March - 03 - 2025
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.