827 Lincoln Avenue, Prescott, AZ 86301 (MLS# 1080196)

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Property Description
An exceptional opportunity in Prescott offering four separate homes on one parcel, creating flexibility for investors, multi-generational living, or those seeking a private family compound close to downtown. Each residence has its own address, fenced yard, and dedicated parking, providing privacy and independence while still sharing a single property. The layout allows an owner to live in one home while renting the others for potential income, or create a unique multi-generational retreat where everyone enjoys their own private space. The property may also offer vacation rental potential (with upgrading) and the possibility of adding another unit (buyer to verify with the City). Located less than one mile from historic downtown Prescott and Whiskey Row, the property provides easy access to restaurants, shopping, entertainment, and local events while maintaining the charm and character that define old Prescott. All units are fully rented with excellent tenants on month-to-month leases, offering flexibility for a new owner. The property has a strong rental history, and residents would like to remain. All tenants have expressed interest in staying and are willing to sign one-year leases during the inspection period. For investors, the seller reports a net operating income of $45,530 after expenses, representing approximately a 7.6% cap rate. Seller currently pays HO insurance, flood insurance (less than $2,000 annually), and water, sewer, and trash. Two homes have newer roofs. Units 829 and 831 feature HVAC mini-split systems, and Unit 829 includes a tankless water heater. Please note that all units are currently occupied. Showings require a letter of intent and a minimum of 48 hours notice. Certainly some deferred maintenance that needs to be tackled, thus the great cap rate and as-is price of $600,000. Perfect for the 'just getting started' investor that is willing to build sweat equity while still earning a great return.

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