500 Copper Basin Road, Prescott, AZ 86303

New Listing
$1,649,000
Property Type: Multi-Family Square Footage: 4,686 Lot Size (sq. ft.): 19,602 Status: Active
Current Price: $1,649,000 List Date: 5/01/2025 Last Modified: 5/01/2025

Description

Situated amidst the vibrant shops and dining establishments along Highway 89 and in Downtown Prescott, this delightful rental property is ideally positioned just a few blocks from the Prescott Courthouse. Previously known as the Pine View Motel, the new ownership has undertaken significant renovations, transforming it into a profitable venture. Spanning a total of 4,686 square feet, this accommodation features 15 units, comprising 2 suites and 13 studio rooms. These rooms are available for rental periods of 6 or 12 months and currently have a waiting list, resulting in little to no vacancies at the property. Additional revenue is generated from the laundry facilities and late payment fees. The current NOI for this property stands at $138,889.73 representing a 8.42 CAP Rate.

More Information MLS# 1068257

ContractAddressLegal

Original List Price: 1649000 Listing Date: 2024-10-16 Status: Active Listing Price: 1649000 Street #: 500 Street Name: Copper Basin St Suffix: Road City/Township: Prescott State: AZ Zip Code: 86303 County: Yavapai Tax Parcel: 109-09-078A

General Property Description

Lot #: -- Lot Size: 19602 Aprx Acres: 0.45 Total Liveable SqFt: 4686 Source of Measuremnt: Owner Buildings: 5 Stories: 2 Year Built: 1962 Management: Owner Gross Vol/Yr $: 190697 NOI $: 138889 Cap %: 8.42 CAM $: 52807 HOA Y/N: No Baths - Full: 15 More than 5 Units: Yes

Tax Info

Taxes: 3876 Tax Year: 2023

Property Features

Building Type: 5+ Units Construction: Frame - Wood Cooling: Ceiling Fan(s) External Amenities: Laundry Facilities; Patio/Deck/Balcony; Separate Storage Flooring: Laminate; Tile Heating: Natural Gas Owner Pays: Electric; Gas/Propane; Trash; Water Records Available: None Road Frontage Type: City Street Road Surface Type: Concrete Road Responsibility: City Maintained Road Roof: Asphalt Shingle Utilities Installed: Master Meter; Natural Gas; Underground; Water - City; WWT - City Sewer Water Heater: Electric
Listing Office: Prescott Commercial Real Estate
Last Updated: May - 01 - 2025
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