575 Campbell StPrescott, AZ 86301

Property Details for 575 Campbell St

Year built

1981

Lot size

0.60 AC

Property size (Sq ft)

8,460 SF

Property type

Apartment buildings

Description

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.

Location Insight

City

Prescott

County

Yavapai

State

Arizona

Latitude

34.5513

Longitude

-112.473

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