843 Sunset AvePrescott, AZ 86305

Property Details for 843 Sunset Ave

Year built

1979

Lot size

0.30 AC

Property size (Sq ft)

5,544 SF

Property type

Residential income properties

Property subtype

Multifamily properties

Description

This exceptional 6-unit apartment building, located at 843 Sunset Ave, Prescott, AZ 86305, presents a compelling investment opportunity. The property boasts a total of 5,544 square feet, situated on a 0.3-acre lot. Built in 1979, this two-story building is zoned MF-M and features six generously sized units, each offering 924 square feet of living space, including two bedrooms and one full bathroom. Each unit is equipped with a fireplace and laundry hookups, adding to their appeal. Residents enjoy the convenience of designated covered parking. Recent upgrades include tasteful interior renovations and fresh exterior paint, enhancing both aesthetics and value. The property's strong financial performance is highlighted by a current NOI of $83,688 and a pro-forma NOI of $105,706, translating to a 6.00% cap rate and a pro-forma cap rate of 7.58%. The asking price is $1,395,000, representing a price per unit of $232,500 and a price per square foot of $271. This multifamily property offers a blend of attractive features, strong financial performance, and significant upside potential in the thriving Prescott, Arizona market. The property's APN is 111-11-137A. This is a turnkey investment ready for immediate income generation. The property's location in Prescott offers investors access to a growing market with strong rental demand.

Location Insight

City

Prescott

County

Yavapai

State

Arizona

Latitude

34.5557

Longitude

-112.484

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