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Paul Simari

prescottpaulrealty@gmail.com +1(928) 232-2792

Listed by Delex Realty, LLC

$ 3,286,000

Est. payment -/mo

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Active

320 S Cortez ST Prescott, AZ 86303

0.34 Acres Lot

UPDATED:

Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Subdivision Prescott Original Township

MLS Listing ID 1076780

HOA Y/N false

Year Built 1942

Annual Tax Amount $2,859

Tax Year 2024

Lot Size 0.340 Acres

Acres 0.34

Source paar

Property 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.Title is being held open see private remarks.

Location

State AZ

County Yavapai

Interior

Heating Baseboard, Electric

Cooling Ceiling Fan(s)

Flooring Laminate, Tile, Vinyl, Wood

Exterior

Exterior Feature Laundry Facilities

Utilities Available Cable Available, Electricity Available, Natural Gas Available, Phone Available

Roof Type Asphalt

Street Surface Alley Paved,Asphalt,Paved

Road Frontage City Street

Building

Structure Type Brick

Others

Acceptable Financing 1031 Exchange, Cash, Conventional

Listing Terms 1031 Exchange, Cash, Conventional

Prescott Area Association of Realtors (PAAR MLS)

Nearby Locations

SCHOOLSPROPERTIES

Elementary Schools 13

10

Abia Judd Elementary School

Public | KG - 4
7

Skyview School

Public | KG - 8
5

Granite Mountain Middle School

Public | 5 - 6
5

Lincoln Elementary School

Public | KG - 4
5

Taylor Hicks Elementary School

Public | KG - 4
0

Primavera School

Private | PK - 6
0

Miller Valley School

Public | KG - 8
0

Willow Creek Charter School

Public | KG - 8
0

Sacred Heart School

Private | PK - 8
0

Christian Academy of Prescott

Private | PK - 7
0

Washington Traditional School

Public | KG - 8
0

La Tierra Community School

Public | KG - 6
0

Mountain Oak Charter School

Public | KG - 8

Middle Schools 1

6

Mile High Middle School

Public | 7 - 8

High Schools 5

4

Prescott High School

Public | 9 - 12
3

Northpoint Expeditionary Learning Academy

Public | 9 - 12
1

Kestrel High School

Public | 9 - 12
0

Mijted - Prescott High School

Public | 9 - 12
0

Mijted - Mountain Institute Central Campus

Public | 9 - 12

School and business data provided by Attom Data.

Paul Simari

Agent | SASA679860000

+1(928) 232-2792

Paul Simari

320 S Cortez ST Prescott, AZ 86303

Key Details

Location

Interior

Exterior

Building

Others

Nearby Locations

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320 S Cortez ST