520 S Cortez Street, Prescott, AZ 86303
- $1,185,000
- List Price
- $1,185,000
- Price Change
- ▼ $65,000 1777087543
- Year Built
- 1996
- Acres
- 0.52
- MLS#
- 1078584
- Subdivision
- Prescott Original Township
- Lot Size
- 22,651
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.
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Additional Information
- Builder Name
- Unknown
- Construction
- Block, Frame, Other, Stucco
- Cooling
- Ceiling Fan(s), Central Refriger, Other
- Exterior Features
- Other, Balcony
- Flooring
- Carpet, Tile
- Heating
- Heat Pump, Natural Gas
- Owner Pays
- None
- REO/Short Sale
- Not Applicable
- Roof
- Metal
- Stories
- 2
- Taxes
- $2,938
- Tax Year
- 2025
- Water Heater
- Natural Gas, Two or More
- Zoning
- MF-H
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Listing courtesy of Better Homes And Gardens Real Estate Bloomtree Realty.