USAAZPrescottPrescott Original Township320 S Cortez St

$3,258,600

320 S Cortez St, Prescott, AZ

Name: 320 S Cortez St, For Sale in Prescott - eXp Realty
Brand: DeLex Realty, LLC
SKU: 1076780
Price: 3258600 CAD

Real Estate

For Sale

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Key Facts
Description
Map

Key Facts

Type

Levels Residential Income

Size -

Garage No

HOA Fees

Taxes $2,859

Days Active 0

Approx. Age 1942

MLS® Number 1076780

Property Address:

Average square foot calculated using Size range provided by listing agent.

Description

Prime Investment Opportunity: Historic 17-Unit Apartment Complex in Downtown Prescott. Presenting a rare and lucrative opportunity to acquire a historic multi-family property at 320 S. Cortez Street, located in the heart of downtown Prescott, Arizona. This well-maintained, 17-unit apartment building, known as The Pillars, offers a compelling investment in a highly desirable and stable rental market.Property highlightsHistoric charm: Built in 1919, this property boasts classic architectural features, and some units retain original hardwood flooring, offering residents a unique and sought-after living experience.Ideal unit mix: The building consists of 17 units, including 7 studios and 10 one-bedroom apartments, appealing to a wide range of tenants seeking downtown living.Prime downtown location: The complex is steps away from Prescott's iconic Courthouse Square, a destination for shopping, dining, and local events. Its central location ensures consistently high demand from tenants who desire a walkable, vibrant lifestyle.On-site amenities: A valuable feature for both tenants and investors, the property includes on-site, coin-operated laundry facilities and a gated lower-level entrance with private parking.Proven income stream: With a solid history as a rental property, this investment offers a reliable revenue source and significant upside potential for a new owner through strategic enhancements and market-rate adjustments.Solid construction: The brick-and-concrete building has an average construction quality and stands on a 0.34-acre lot, providing a durable foundation for long-term ownership.Investment potentialThis offering is perfect for investors looking to expand their portfolio with a high-demand, income-generating asset in Prescott, a market known for its strong rental performance. The Pillars provides a unique blend of historic appeal and modern investment stability. Some units have already been upgraded, and with an opportunity to continue renovations, a new owner can further increase property value and rental income.The Prescott rental market is consistently strong due to the city's robust local economy, popular tourist attractions, and a steady influx of new residents. As a relatively low-rise building, The Pillars offers a more intimate residential experience compared to larger, modern complexes.Property detailsAddress: 320 S. Cortez St., Prescott, AZ 86303Total units: 17Year built: 1919Total interior livable area: ~10, 000 sq ftLot size: 0.34 acresFeatures: On-site laundry, gated parking, historic details, mountain and city views from some unitsFor more information and to schedule a private viewing, contact our commercial real estate specialist Michael Aldridge 602.762.4830. This exceptional opportunity won't last long.Show Description

MLS® Number1076780

Locker

Ensuite LaundryNo

Balcony

Furnished

Laundry Level

Exposure

ExteriorLaundry Facilities

GarageNo

Approx. Age1942

Stories

Pets

Corp Number

Included in Maintenance Fee

Heat

Hydro

Water

Building Insurance

Condo Taxes

Cable TV

Central Air

Parking Maintenance

Utilities

HeatBaseboard, Electric

A/CCeiling Fan(s)

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Extras

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