For Sale
$2,195,000

575 Campbell StPrescott, AZ 86301

12-unit apartment complex, high ROI

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional investment opportunity presents a 12-unit multifamily property located at 575 Campbell St, Prescott, AZ 86301, in Yavapai County. The property consists of three one-story buildings totaling 8,460 square feet on a 0.6-acre lot, built in 1981 and renovated in 2022. The complex comprises three fourplexes, featuring eleven 2-bedroom, 1-bathroom units and one 1-bedroom, 1-bathroom unit. Ample parking is available with 20 spaces provided for residents. The property is zoned MF-M and offers a current Net Operating Income (NOI) of $128,604, resulting in a 5.86% capitalization rate. A pro-forma NOI of $162,036 is projected, yielding a 7.38% pro-forma cap rate, reflecting potential for increased profitability through market rent adjustments. The asking price is $2,195,000, translating to $182,917 per unit and $259.46 per square foot. This prime Prescott location is minutes from the downtown area, benefiting from a robust rental market. The property's strong cash flow and potential for appreciation make it an attractive investment opportunity. The APN is 113-03-028B / 113-03-028B / 113-02-028A. There is no ground lease.

Highlights

  • 12-unit multifamily property in Prescott, AZ.
  • Three one-story buildings totaling 8,460 square feet on a 0.6-acre lot.
  • Eleven 2-bedroom/1-bathroom units and one 1-bedroom/1-bathroom unit.
  • 20 parking spaces.
  • Current NOI of $128,604, 5.86% cap rate; Pro-forma NOI of $162,036, 7.38% pro-forma cap rate.
  • Asking price: $2,195,000 ($182,917 per unit, $259.46 per square foot).

Property Details for 575 Campbell St

Property type
Apartment buildings
Square Feet
8,460 SF
Year Built/Renovated
1981/2022
Buildings
3
Stories
1
Lot Size (sq. ft)
26,136 SF
Units
12

Location Insight

City
Prescott
County
Yavapai
State
Arizona
Latitude
34.5512509
Longitude
-112.473155
575 Campbell St, Prescott, Arizona

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575 Campbell St
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