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Address
601 S Cortez Street Prescott, AZ
Price
$ 3,350,000
Property Attributes
  • MLS#5939951
  • TypeMulti-Family
  • CountyYAVAPAI
  • CityPrescott
  • NeighborhoodCortez Street Apartments
  • Zip86303
  • Style
  • Year Built1961
  • Taxes12832
  • Price$ 3,350,000
  • Bedrooms56
  • Full Bathrooms32
  • Half Bathrooms0
  • Sqr Footage793880
Listing Provided Courtesy Of:
Sperry Commercial
Property Description

Cortez Circle is a well maintained 38-unit apartment community located in the Downtown area of Prescott, Arizona. The unit mix consists of four different floor plans from Studios to 2-bedrooms, with many of the apartments being 2-story townhome style units. Ownership has been in the process of renovating the complex. As of now, 17 apartments have been renovated at a cost between $3,000 & $6,000/unit. This includes paint, vinyl hardwood plank flooring, carpet, new microwave ovens, reframing of stairs, and more. These apartments easily bring an additional $50 - $150/month in rent - with little to no resistance - meaning a new owner can continue this plan with the remaining 21 apartments.

Price History
6/14/2019 Listed $3,350,000

General Features

1 Bedroom Units: Avg Rent 755.00
2 Bedroom Units: Avg Rent 978.00
3 Bedrooms Units: Avg Rent 0.00
4 Bedrooms Units: Avg Rent 0.00
Construction Brick, Frame - Wood
Features Pool(s), Exercise Room
Map Code/Grid C82
Net Income 272180.00
New Financing Other (See Remarks)
Owner Pays Other (See Remarks)
Property Type F
Public Remarks Cortez Circle is a well maintained 38-unit apartment community located in the Downtown area of Prescott, Arizona. The unit mix consists of four different floor plans from Studios to 2-bedrooms
School District 000 - Out of Area
Status Active
Subdivision Cortez Street Apartments
Tenant Pays Other (See Remarks)
Year Built 1961
Zoning -

Interior Features

1 Bedroom Units: # 1 Bedroom Units 8
1 Bedroom Units: # Baths 1
1 Bedroom Units: Avg Sqft 96250
2 Bedroom Units: # 2 Bedroom Units 24
2 Bedroom Units: # Baths 1
2 Bedroom Units: Avg Sqft 995
Appliances Included F/S Oven/Range, Refrigerator, Microwave
Cooling Electric Refrigeratd
Electric APS
Floors Carpet, Other (See Remarks), Wood
Gas SW Gas
Heating Gas
Interior Features Unfurnished, Vertical Blinds
Total Number of Units 38.00

Exterior Features

Sale Includes Land & Building
Const - Finish Painted
Covered Parking Spcs 50.00
Exterior Features Desert Landscaping, Partially Fenced, Cable TV Available, Patio/Balcony, Separate Storage
Lot Size Dimensions CORTEZ CIRCLE - 38 Units in Prescott for Sale
Parking Free
Roof Comp Shingle
Sewer Sewer - Public
Total Parking Spcs 100.00
Water City Franchise

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Master On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Zip Code Average in 86303

Price
AVG $1.35M
$3.35M
Taxes
AVG $3,972
$12,832
Visits
AVG 108
328
Year Built
AVG 1948
1961

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