520 S Cortez Street
Property Description
Exceptional Multi-Family Opportunity Near Downtown Prescott. Offered for the first time on the market, this rare four-plex is ideally located just moments from historic downtown Prescott, providing an outstanding opportunity for investors or owner-occupants alike. The property features four distinct floor plans constructed from 12 inch poured concrete walls, 4 inch thick concrete with steel web flooring girders. It includes a spacious owner's unit offering just over 1,600 square feet, perfect for comfortable on-site living while generating rental income from the remaining units with a beautiful covered temperature controlled Arizona room with west facing views. The four-plex presents an immediate income producing opportunity, with additional upside through light renovations and updates to further enhance value and long term returns, with a future elevator through a uniquely design shaft already on site. Situated on an oversized lot, the property has exterior covered parking, paved road and alley access, a fenced in garden area, along with a motorhome pad with full hookups available. The property also offers significant future potential, as current zoning allows for the expansion of an additional multi-family building, making this a compelling value add or development play. With its prime proximity to downtown amenities, dining, and entertainment, and opportunities like this rarely coming available, this is a truly special Prescott investment property that blends location, income, and future growth potential.
Broker Details
Arizona Property Brokerage (928) 848-3400
MLS ID: 7448 State License Number: SA647953000
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | 2-4 Units |
| Price: | $1,130,000 |
| No. of Units: | 4 |
| Year Built: | 1996 |
| Opportunity Zone: | No |
| Price per unit: | $282,500 |
| Property Website | Click Here |
| Number of Bedrooms: | 8 |
| Number of Bathrooms: | 7 |
ID: 3yd-PAARAZ-1078584
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