2010 E Route 66
- 12,864 SF Building
- 19 Units. Asking Price is $181,579/Door
- $268.19/SF
- Built in 1965, Renovated in 2015
- Zoned HC (Highway Commercial)
- Located in Flagstaff, AZ
- Convenient Access to Route 66
- Prime Location for Multifamily or Hospitality Investment
- Attractive Investment Opportunity
Property Description
Prime opportunity for multifamily investors to acquire a fully remodeled 19-unit property on 0.89 acres at a high-traffic, signalized intersection in Flagstaff. Zoned for mixed-use, the property also presents flexibility for hospitality or retail uses. Ideal for diversifying income streams or expanding tenant offerings. The subject property is a unique mixed-use investment situated on approximately 38,768 square feet of land and containing approximately 12,864 square feet of improvements. The property consists of apartment units, commercial space, and storage areas, providing multiple income opportunities. It is important to note that the property is not currently operating at its full income-producing potential, which has a direct impact on the Income Approach. Specifically: Building 2, the two-story residential building, contains one apartment unit that is unfinished to the studs. Because this unit is not rentable in its current condition, it produces no income. Completion of this unit would provide additional rental revenue. Building 1 is a mixed-use commercial building. The second-floor apartment is occupied, while the entire ground-floor commercial space remains in white-shell condition and is currently vacant. Once tenant improvements are completed and the space is leased, the property should realize additional income not reflected in the current operating statements. Accordingly, the property's current income understates its long-term earning potential. Benefit from Flagstaff’s strong rental demand, limited inventory, and year-round economic drivers. Whether you hold as a pure multifamily play or explore hospitality this is a standout investment with long-term upside.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $3,450,000 |
| No. of Units: | 19 |
| Year Built: | 1965 |
| Lot Size: | 0.89 Acres |
| Opportunity Zone: | No |
| Price per unit: | $181,579 |
| Property Website | Click Here |
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