25-Unit Apartment
1221 E 3rd Street Winslow, AZ 86047
For Sale
$1,395,000
MULTI_FAMILY - Winslow, AZ
Property Size5,984 SF
Price / SF$233.12
Days on Market393
Property Features for 1221 E 3rd Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Appliances
Refrigerators
Standard status
Active
APN
10334003b
Size
5,984 SF
Taxes and HOA fees
Tax Year
2024
Tax Description
TAYLOR ADDN:LOTS 1 & 2, BLOCK 2 OUT OF 103-34-003 FOR '98 ROLL
Tax Annual Amount
1561
Utilities
Utilities
Cable Available
Heating system
Electric (Heating), Natural Gas
Cooling system
Multi Units
Building Details
Year built
1962
Number of units
25
Roof type
Asphalt
Listing Agency:
Linton Real Estate
(928) 779-4411
Listed By:
Michelle M Linton
(928) 600-3974
Added: Jul 1, 2025
Changed: Jul 14
Last Checked: Jul 28 at 10:06AM
MLS# 201628
Copyright © 2026 Northern Arizona Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
College View Apartments is a fully occupied 25-unit multifamily investment spanning two contiguous buildings across two parcels in Winslow, Arizona. The property has documented gross scheduled income growth during 2025, and ongoing market rent analysis indicates additional upside toward a higher annual gross figure.
Recent capital improvements include new gas water heaters and updated electrical panels and conduit. Unit-level upgrades completed at turnover feature laminate flooring, new appliances, and updated cabinetry.
For additional detail, full financials including 2025 operating statements and normalized adjustments are available upon request.
Recent capital improvements include new gas water heaters and updated electrical panels and conduit. Unit-level upgrades completed at turnover feature laminate flooring, new appliances, and updated cabinetry.
For additional detail, full financials including 2025 operating statements and normalized adjustments are available upon request.
Key Highlights
- 25‑unit multifamily investment in Winslow, AZ, spanning two contiguous buildings across two parcels
- Fully occupied; 2025 Gross Scheduled Income rose from $194,100 to $243,900
- Documented rent growth with current market rent analysis showing potential to $280,500 annually
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $83.3k | $13.92 |
| − Vacancy | −$6.7k | −$1.11 |
| EGI | $76.6k | $12.81 |
| − OpEx | −$34.5k | −$5.76 |
| NOI | $42.1k | $7.04 |
5,984 SF · lease $13.92/SF/yr · vacancy 8.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$602.1K
$526.9K – $702.5K
NOI $42,148 @ 7.0% cap · market cap 3.02%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.63M
$1.42M – $1.90M
NOI $113,829 @ 7.0% cap · market cap 8.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Apartment building - Fully occupied 25-unit multifamily property across two contiguous buildings on two parcels in Winslow, Arizona.
Where is this apartment building located?
The property is located at 1221 E 3rd Street Winslow, AZ.
What is the asking price?
The asking price for this property is $1,395,000.
What are key features of this property?
This property features: 25‑unit multifamily investment in Winslow, AZ, spanning two contiguous buildings across two parcels; Fully occupied; 2025 Gross Scheduled Income rose from $194,100 to $243,900; Documented rent growth with current market rent analysis showing potential to $280,500 annually
