25-Unit Apartment
For Sale
$1,395,000
1221 E 3rd Street, Winslow, AZ 86047
Residential Income, Winslow, AZ
Property Size10,413 SF
Price / SF$133.97
Days on Market472
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Property Features for 1221 E 3rd Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Appliances
Refrigerators
Directions
From 1-40 and Park Drive, South on Park Drive to N Berry Ave, left on 2nd Street to Alder. There are 2 buildings, 1220 E 2nd Street, and 1221 E 3rd Street.
Subdivision
20 - Winslow
Standard status
Active
APN
10334003b
Size
10,413 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
Legal Description
TAYLOR ADDN:LOTS 1 & 2, BLOCK 2 OUT OF 103-34-003 FOR '98 ROLL
Utilities
Utilities
Cable Available
Heating system
Natural Gas, Electric (Heating)
Cooling system
Multi Units
Amenities
on-site management
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: Oct 7
Last Checked: Oct 15 at 2:06PM
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 25-unit property comprising two connected buildings on two parcels, with 10,413 square feet in total. Built in 1962, the buildings have asphalt roofing, natural gas and electric heating, and multiple cooling units. Refrigerators are included.
Capital work includes replacement gas water heaters and electrical panel and conduit updates. Apartment improvements made during turnover include laminate flooring, appliances, and cabinetry. The property is fully occupied and has on-site management; the owner currently pays all utilities.
Capital work includes replacement gas water heaters and electrical panel and conduit updates. Apartment improvements made during turnover include laminate flooring, appliances, and cabinetry. The property is fully occupied and has on-site management; the owner currently pays all utilities.
Key Highlights
- 25 apartments across two connected buildings on two parcels
- 10,413 square feet; built in 1962
- Fully occupied with on‑site management
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$73,344
Cap Rate
5.26%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,466,880
$1.5M
Cap Rate 7%
$1,047,771
$1.0M
Cap Rate 9%
$814,933
$814.9K
Market Conditions
NOI Build-Up for 10,413 SF
Gross rent
$144.9K $13.92/SF
− Vacancy
−$11.6K −$1.11/SF
EGI
$133.4K $12.81/SF
− OpEx
−$60.0K −$5.76/SF
NOI
$73.3K $7.04/SF
Area
Navajo County, AZ
Vacancy
8.00%
Lease Rate
$13.92 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,466,880
Cap Rate 7%
$1,047,771
Cap Rate 9%
$814,933
Alternative Uses
Best Use
Apartment 5plus
$1.05M
$916.8K – $1.22M
NOI $73,344 @ 7.0% cap · market cap 5.26%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.83M
$2.48M – $3.30M
NOI $198,078 @ 7.0% cap · market cap 14.20%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
25
Residential units
100%
Occupancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
206
Businesses Nearby
Explore this area
Business Placement
Demographics for 86047, AZ
14,168
Population
4,932
Households
2.9
Avg Household Size
36
Median Age
8%
College-Educated
81%
High-School Grad
1,676.3 sq mi
ZIP Area
8
Density / Sq Mi
$50,062
Median Household Income
$29,846
Median Earnings
$875
Median Rent
$113,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Two connected buildings on separate parcels feature recent building-system and apartment upgrades.
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 apartments across two connected buildings on two parcels; 10,413 square feet; built in 1962; Fully occupied with on‑site management
