$3,600,000
Prescott, AZ 86305
MLS# 1060688
13288 sqft
1 / 35
Property Description
Multi Unit Income Property in the heart of Prescott! The Landings stands as a beacon of investment opportunity. This multi-unit income property, boasting 16 meticulously designed apartments, invites discerning investors to indulge in the breathtaking panorama of majestic mountains that adorn the horizon. 15 Units are 2 bedroom 2 bathroom and one unit is a 1 bedroom 1 bathroom. Electricity is on individual meters for each unit. The consistently high occupancy rates underscore the desirability of this investment gem. All units are live-on-one level, have updated paint & flooring and full kitchens. Shared coin laundry room for additional income potential annually. Plenty of concrete parking for tenants and their guests. Separate storage closets at end of building too!
Details
Maps
Contract/Address/Legal
Original List Price: 4250000
Listing Date: 2023-11-22
Status: Active
Listing Price: 3600000
List Price/SqFt: 271
Rent/Lease: No
Street #: 849
Street Name: Sunset
St Suffix: Avenue
City/Township: Prescott
State: AZ
Zip Code: 86305
Subdivision: Gardenland Tract
Neighborhood: N/A
County: Yavapai
Zoning: MF-M
REO/Short Sale: Not Applicable
Tax Parcel: 111-11-136B
Assessor's Book #: 111
Assessor's Map #: 11
Assessor's Parcel #: 136
Assessor Parcel Ltr: B
Legal: LOT 22 & THE S 48 FT OF LOT 21 CONT .48AC GARDENLAND TRACT BOOK 2 PAGE 11A
General Property Description
Lot #: 22
Lot Size: 20988
Aprx Acres: 0.48
Total Liveable SqFt: 13288
Source of Measuremnt: County Assessor
Year Built: 1980
Management: Mgmt Company
Gross Vol/Yr $: 204475
NOI $: 152755
Vac Rate %: 2
Cap %: 4.13
CAM $: 3683
GRM: 18.1
HOA Y/N: No
Baths - Full: 16
More than 5 Units: Yes
Tax Info
Taxes: 4560
Tax Year: 2023
Remarks & Misc
Directions: Highway 89 S East to Sheldon St, R on Montezuma St, Straight on Whipple St, L on Miller Valley Rd, R on Whipple L on Sunset Ave to Sign on L.
Office/Member Info
Listing Exclusions: No
Compensation: 3
Compensation Type: %
Unit 1
Unit ID: 1
# BR: 2
# BA: 2
SqFt: 800
Rent $: 1200
Unit 2
Unit ID: 3
# BR: 2
# BA: 2
SqFt: 800
Rent $: 1224
Unit 3
Unit ID: 4
# BR: 2
# BA: 2
SqFt: 800
Rent $: 1000
Unit 4
Unit ID: 5
# BR: 2
# BA: 2
SqFt: 800
Rent $: 1224
Unit 5
Unit ID: 10
# BR: 1
# BA: 1
SqFt: 400
Rent $: 875
Property Features
Building Type: 5+ Units; Residential+
Construction: Frame - Wood
Cooling: Room Refrigeration
External Amenities: Landscaped; Laundry Facilities
Flooring: Carpet; Laminate
Heating: Baseboard; Electric
Owner Pays: Trash; Water
Records Available: None
Road Frontage Type: City Street
Road Surface Type: Asphalt; Paved
Road Responsibility: City Maintained Road
Roof: Asphalt Shingle
Terms & Conditions: 1031 Exchange; Conventional; Free and Clear; Owner Leased Back
Utilities Installed: 220; Electricity; Individual Meter; Telephone; Underground; Water - City; WWT - City Sewer
Water Heater: Electric; Two or More
Unit 1 Parking: Other - See Remarks
Unit 1 Info: Dishwasher; Disposal; Porch/Patio; Range/Oven; Refrigerator; Other - See Remarks
Unit 2 Parking: Off Street
Unit 2 Info: Dishwasher; Disposal; Porch/Patio; Range/Oven; Refrigerator; Other - See Remarks
Unit 3 Parking: Off Street
Unit 3 Info: Dishwasher; Disposal; Porch/Patio; Range/Oven; Refrigerator; Other - See Remarks
Unit 4 Parking: Off Street; Other - See Remarks
Unit 4 Info: Dishwasher; Disposal; Porch/Patio; Range/Oven; Refrigerator; Other - See Remarks
Unit 5 Parking: Off Street; Other - See Remarks
Unit 5 Info: Dishwasher; Disposal; Porch/Patio; Range/Oven; Refrigerator
Supplements
Great central location with city & mountain views including Thumb Butte and Granite Mountain. Proximity to essential amenities such as the hospital, restaurants, and shopping further enhances the property's appeal. Property is zoned MF-M. Don't miss this RARE opportunity to own investment property in the heart of Prescott Arizona! Come view this property before it's gone!
Listing Office: Realty Executives AZ Territory
Last Updated: April - 25 - 2024
The listing broker’s offer of compensation is the dollar amount or percentage of sale price the listing broker offers to pay a broker who (a) participates in the multiple listing service where the listing broker filed the listing and (b) procures the buyer for a successful transaction.
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.