215 E Willis Street, Prescott, AZ 86301
New Listing
$1,600,000
Property Type:
Multi-Family
Square Footage:
5,687
Lot Size (sq. ft.):
4,792
Status:
Active
Current Price:
$1,600,000
List Date:
7/01/2025
Last Modified:
7/01/2025
Description
PRIME LOCATION in Downtown Prescott (walking distance from ''The Square'') apartment building for vacation rental business or long-term leases. This building is currently operating with 5 long-term lease units and 3 vacation units (hosted on Airbnb) - no limitations to a new buyer making ALL of them vacation rentals if desired. Building underwent a significant renovation in 2020 that included: all new electrical, new HVAC systems, new central hot water & full interior upgrade. Vacation units are fully furnished, functional & turn-key-ready to continue operating (included in price). Units are Individually-metered. Coin-Op laundry facilities are available on-site. Historically, vacation rentals are fetching 2-2.5x of long-term leases so don't miss out on this amazing investment opportunity!
More Information MLS# 1074559
ContractAddressLegal
Original List Price: 1600000
Listing Date: 2025-07-01
Status: Active
Listing Price: 1600000
Street #: 215
Direction: E
Street Name: Willis
St Suffix: Street
City/Township: Prescott
State: AZ
Zip Code: 86301
Subdivision: None
County: Yavapai
Tax Parcel: 113-16-066
General Property Description
Lot #: 1
Lot Size: 4,792
Aprx Acres: 0.11
Total Liveable SqFt: 5687
Source of Measuremnt: County Assessor
Buildings: 1
Stories: 2
Year Built: 1905
Management: Mgmt Company
Gross Vol/Yr $: 140078
NOI $: 103675
Vac Rate %: 5
Cap %: 6.5
GRM: 11.4
Baths - Full: 8
More than 5 Units: Yes
Tax Info
Taxes: 1596
Tax Year: 2024
Unit 1
Unit ID: 1A
# BR: 1
# BA: 1
SqFt: 672
Tenant Utilities: All
Unit 2
Unit ID: 1B
# BR: 1
# BA: 1
SqFt: 611
Tenant Utilities: All
Unit 3
Unit ID: 1C
# BR: 1
# BA: 1
SqFt: 420
Tenant Utilities: All
Unit 4
Unit ID: 1D
# BR: 1
# BA: 1
SqFt: 495
Tenant Utilities: All
Unit 5
Unit ID: 2A
# BR: 1
# BA: 1
SqFt: 569
Tenant Utilities: All
Property Features
Building Type: 5+ Units
Construction: Brick; Frame - Wood; Stone
Cooling: Ceiling Fan(s); Heat Pump; Mini-Split
External Amenities: Fence; Laundry Facilities
Flooring: Vinyl
Heating: Forced Air; Heat Pump
Owner Pays: Other - See Remarks
Records Available: None
Road Frontage Type: City Street
Road Surface Type: Alley Paved; Paved
Road Responsibility: City Maintained Road
Roof: Metal
Utilities Installed: 220; Electricity; Individual Meter; Natural Gas; Water - City; WWT - City Sewer
Water Heater: Central Boiler; Natural Gas; Re-Circulating
Unit 1: Furniture
Unit 1 Parking: None; Other - See Remarks
Unit 1 Info: Ceiling Fan(s); Dishwasher; Disposal; Fire/Smoke Detectors; Range/Oven; Refrigerator; Storage Room; Other - See Remarks
Unit 2 Parking: None; Other - See Remarks
Unit 2 Info: Ceiling Fan(s); Dishwasher; Disposal; Fire/Smoke Detectors; Range/Oven; Refrigerator
Unit 3 Parking: None; Other - See Remarks
Unit 3 Info: Ceiling Fan(s); Dishwasher; Disposal; Fire/Smoke Detectors; Range/Oven; Refrigerator
Unit 4 Parking: None; Other - See Remarks
Unit 4 Info: Ceiling Fan(s); Dishwasher; Fire/Smoke Detectors; Range/Oven; Refrigerator; Other - See Remarks
Unit 5 Parking: None; Other - See Remarks
Unit 5 Info: Ceiling Fan(s); Dishwasher; Disposal; Fire/Smoke Detector; Range/Oven; Refrigerator
Documents
Floor Plan ›Listing Office: Southwest Homes Realty
Last Updated: July - 01 - 2025
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