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    320 S Cortez St Prescott, AZ 86303

    For Sale
    $3,286,000

    MULTI_FAMILY - Prescott, AZ

    Lot size:
    0.34 Acres
    Days on Market:
    67
    Last Refresh:
    Dec 6 at 11:06 am

    Property Features for 320 S Cortez St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Zoning
    residential
    APN
    7
    Exterior features
    Laundry Facilities
    Lot size
    0.34 Acres

    Utilities

    Utilities
    Cable Available
    Heating system
    Electric (Heating), Baseboard
    Cooling system
    Ceiling Fan(s)
    Water source
    Public

    Building Details

    Year built
    1942
    Number of units
    17
    Flooring type
    Tile, Vinyl, Laminate, Wood
    Building materials
    Brick
    Roof type
    Asphalt

    Delex Realty, LLC 003

    Listing agent Michael A Aldridge (602) 762-4830

    Listing date Oct 1, 2025

    Copyright © 2025 Prescott Area Association of Realtors®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Historic Prescott Apartment Complex

    Located in downtown Prescott, Arizona, the Pillars is a historic 17-unit apartment complex built in 1919. The property, situated at 320 S. Cortez Street, is a well-maintained building with classic architectural features. The unit mix includes 7 studios and 10 one-bedroom apartments. Some units retain original hardwood flooring. The property includes on-site, coin-operated laundry facilities and a gated lower-level entrance with private parking. The brick-and-concrete building is located on a 0.34-acre lot. Some units have mountain and city views. The complex is located steps away from Prescott's Courthouse Square, offering convenient access to shopping, dining, and local events. The property offers a reliable revenue source and significant upside potential for a new owner through strategic enhancements and market-rate adjustments. 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 total interior livable area is approximately 10,000 square feet.
    Property Profile Location Intelligence

    Current Use by Public Records

    Village Apartment Apartment Building Pillars Apartment Building Prescott Advertising Property Maintenance

    Suggested Use

    Law Firm Restaurant Dental Office Spa & Massage Realty agency Hair Salon Nail Salon Building Supply Clothing Store Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Prescott
    County
    Yavapai
    State
    Arizona
    Longitude
    -112.46925
    Latitude
    34.537343

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    FAQs

    What type of property is this?
    Apartment building - Historic 17-unit apartment complex in downtown Prescott, Arizona.
    Where is this apartment building located?
    The property is located at 320 S Cortez St Prescott, AZ.
    What is the asking price?
    The asking price for this property is $3,286,000.
    What are key features of this property?
    This property features: - Prime Downtown Prescott Location: Steps from Courthouse Square with walkable access to amenities.; - Proven Income Stream with Upside Potential through renovations.; - Historic Charm and Unique Appeal: Built in 1919 with some original hardwood floors.
    (602) 762-4830
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    320 S Cortez St Prescott, AZ 86303
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    Prescott, AZ 86303
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    320 S Cortez St Prescott, AZ 86303
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