320 S Cortez Street

Prime Investment Opportunity: Historic 17-Unit Apartment Complex in Downtown Prescott. Presenting a rare and lucrative opportunity to acquire a historic multi-family property at 320 S. Cortez Street, located in the heart of downtown Prescott, Arizona. This well-maintained, 17-unit apartment building, known as The Pillars, offers a compelling investment in a highly desirable and stable rental market.Property highlightsHistoric charm: Built in 1919, this property boasts classic architectural features, and some units retain original hardwood flooring, offering residents a unique and sought-after living experience.Ideal unit mix: The building consists of 17 units, including 7 studios and 10 one-bedroom apartments, appealing to a wide range of tenants seeking downtown living.Prime downtown location: The complex is steps away from Prescott's iconic Courthouse Square, a destination for shopping, dining, and local events. Its central location ensures consistently high demand from tenants who desire a walkable, vibrant lifestyle.On-site amenities: A valuable feature for both tenants and investors, the property includes on-site, coin-operated laundry facilities and a gated lower-level entrance with private parking.Proven income stream: With a solid history as a rental property, this investment offers a reliable revenue source and significant upside potential for a new owner through strategic enhancements and market-rate adjustments.Solid construction: The brick-and-concrete building has an average construction quality and stands on a 0.34-acre lot, providing a durable foundation for long-term ownership.Investment potentialThis offering is perfect for investors looking to expand their portfolio with a high-demand, income-generating asset in Prescott, a market known for its strong rental performance. The Pillars provides a unique blend of historic appeal and modern investment stability. Some units have already been upgraded, and with an opportunity to continue renovations, a new owner can further increase property value and rental income.The Prescott rental market is consistently strong due to the city's robust local economy, popular tourist attractions, and a steady influx of new residents. As a relatively low-rise building, The Pillars offers a more intimate residential experience compared to larger, modern complexes.Property detailsAddress: 320 S. Cortez St., Prescott, AZ 86303Total units: 17Year built: 1919Total interior livable area: ~10,000 sq ftLot size: 0.34 acresFeatures: On-site laundry, gated parking, historic details, mountain and city views from some unitsFor more information and to schedule a private viewing, contact our commercial real estate specialist Michael Aldridge 602.762.4830. This exceptional opportunity won't last long.Title is being held open see private remarks.