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849 Sunset Avenue, Prescott, AZ 86305

$3,600,000
Property Type: Multi-Family Square Footage: 13,288 Lot Size (sq. ft.): 20,909 Status: Active
Current Price: $3,600,000 List Date: 11/22/2023 Last Modified: 4/25/2024

Description

Multi Unit Income Property in the heart of Prescott! The Landings stands as a beacon of investment opportunity. This multi-unit income property, boasting 16 meticulously designed apartments, invites discerning investors to indulge in the breathtaking panorama of majestic mountains that adorn the horizon. 15 Units are 2 bedroom 2 bathroom and one unit is a 1 bedroom 1 bathroom. Electricity is on individual meters for each unit. The consistently high occupancy rates underscore the desirability of this investment gem. All units are live-on-one level, have updated paint & flooring and full kitchens. Shared coin laundry room for additional income potential annually. Plenty of concrete parking for tenants and their guests. Separate storage closets at end of building too!

Supplements: Great central location with city & mountain views including Thumb Butte and Granite Mountain. Proximity to essential amenities such as the hospital, restaurants, and shopping further enhances the property's appeal. Property is zoned MF-M. Don't miss this RARE opportunity to own investment property in the heart of Prescott Arizona! Come view this property before it's gone!

More Information MLS# 1060688

Contract/Address/Legal

Original List Price: 4250000 Listing Date: 2023-11-22 Status: Active Listing Price: 3600000 List Price/SqFt: 271 Rent/Lease: No Street #: 849 Street Name: Sunset St Suffix: Avenue City/Township: Prescott State: AZ Zip Code: 86305 Subdivision: Gardenland Tract Neighborhood: N/A County: Yavapai Zoning: MF-M REO/Short Sale: Not Applicable Tax Parcel: 111-11-136B Assessor's Book #: 111 Assessor's Map #: 11 Assessor's Parcel #: 136 Assessor Parcel Ltr: B Legal: LOT 22 & THE S 48 FT OF LOT 21 CONT .48AC GARDENLAND TRACT BOOK 2 PAGE 11A

General Property Description

Lot #: 22 Lot Size: 20988 Aprx Acres: 0.48 Total Liveable SqFt: 13288 Source of Measuremnt: County Assessor Year Built: 1980 Management: Mgmt Company Gross Vol/Yr $: 204475 NOI $: 152755 Vac Rate %: 2 Cap %: 4.13 CAM $: 3683 GRM: 18.1 HOA Y/N: No Baths - Full: 16 More than 5 Units: Yes

Tax Info

Taxes: 4560 Tax Year: 2023

Remarks & Misc

Directions: Highway 89 S East to Sheldon St, R on Montezuma St, Straight on Whipple St, L on Miller Valley Rd, R on Whipple L on Sunset Ave to Sign on L.

Office/Member Info

Listing Exclusions: No Compensation: 3 Compensation Type: %

Unit 1

Unit ID: 1 # BR: 2 # BA: 2 SqFt: 800 Rent $: 1200

Unit 2

Unit ID: 3 # BR: 2 # BA: 2 SqFt: 800 Rent $: 1224

Unit 3

Unit ID: 4 # BR: 2 # BA: 2 SqFt: 800 Rent $: 1000

Unit 4

Unit ID: 5 # BR: 2 # BA: 2 SqFt: 800 Rent $: 1224

Unit 5

Unit ID: 10 # BR: 1 # BA: 1 SqFt: 400 Rent $: 875

Property Features

Building Type: 5+ Units; Residential+ Construction: Frame - Wood Cooling: Room Refrigeration External Amenities: Landscaped; Laundry Facilities Flooring: Carpet; Laminate Heating: Baseboard; Electric Owner Pays: Trash; Water Records Available: None Road Frontage Type: City Street Road Surface Type: Asphalt; Paved Road Responsibility: City Maintained Road Roof: Asphalt Shingle Terms & Conditions: 1031 Exchange; Conventional; Free and Clear; Owner Leased Back Utilities Installed: 220; Electricity; Individual Meter; Telephone; Underground; Water - City; WWT - City Sewer Water Heater: Electric; Two or More Unit 1 Parking: Other - See Remarks Unit 1 Info: Dishwasher; Disposal; Porch/Patio; Range/Oven; Refrigerator; Other - See Remarks Unit 2 Parking: Off Street Unit 2 Info: Dishwasher; Disposal; Porch/Patio; Range/Oven; Refrigerator; Other - See Remarks Unit 3 Parking: Off Street Unit 3 Info: Dishwasher; Disposal; Porch/Patio; Range/Oven; Refrigerator; Other - See Remarks Unit 4 Parking: Off Street; Other - See Remarks Unit 4 Info: Dishwasher; Disposal; Porch/Patio; Range/Oven; Refrigerator; Other - See Remarks Unit 5 Parking: Off Street; Other - See Remarks Unit 5 Info: Dishwasher; Disposal; Porch/Patio; Range/Oven; Refrigerator
Listing Office: Realty Executives AZ Territory
Last Updated: April - 25 - 2024

The listing broker’s offer of compensation is the dollar amount or percentage of sale price the listing broker offers to pay a broker who (a) participates in the multiple listing service where the listing broker filed the listing and (b) procures the buyer for a successful transaction.

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