Luxury Apartments in Prescott,
For Sale
Contact for pricing
Pending
1257 White Spar Rd, Prescott, AZ 86303
Boutique multifamily community with modern finishes and tranquil environment.
Property Size63,808 SF
Lot Size3.18 Acres
Days on Market212
Property Features for 1257 White Spar Rd
General Information
Standard status
Pending
Size
63,808 SF
Class
A
Total Parking Spaces
94
Lot size
3.18 Acres
Property subtype
Multifamily
Zoning
MF-H
Investment Type
Stabilized
Building Details
Year Built
2024
Buildings
7
Stories
2
Units
39
Listing Agency:
Better Homes and Gardens BloomTree Realty
Listed By:
Raymond Zogob · License #AZ SA553424000
(619) 997-3329
Source:
Crexi
Added: Mar 9
Changed: Oct 2
Last Checked: Oct 5 at 4:44PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Better Homes and Gardens BloomTree Realty
Investment Insights
Based on property information with market context.
Cala Luxury Apartments, a 39-unit multifamily community, is located in Prescott, Arizona. Situated on approximately 3.18 acres of MF-H zoned land, the property consists of seven two-story buildings. Each building is fully fire-sprinklered, and every unit has a private water meter. The community provides three floor plans, including 38 two-bedroom, two-bath units ranging from approximately 1,073 to 1,499 square feet, and one one-bedroom unit of approximately 1,026 square feet. Each unit includes a private one-car garage with an automatic opener, high-quality finishes, and modern conveniences. Interior features include energy-efficient mini-split heating and cooling systems, large-capacity washers and dryers (or stacked units), Delta plumbing fixtures, instant hot water systems, and smart panels with dedicated high-speed fiber optic internet access. Kitchen features include upgraded stainless steel appliances, dishwashers, garbage disposals, Kohler black farmhouse sinks with gooseneck faucets, granite countertops, and high-end cabinetry with soft-close drawers. The property is located less than two miles from Prescott’s Downtown Courthouse Square, offering convenient access to dining, shopping, and entertainment. Residents can enjoy views of the surrounding pine forest and convenient access to nearby trailheads. The property offers investors the opportunity to acquire a newly delivered multifamily asset.
Key Highlights
- Newly built (2024) luxury apartments in a desirable mountain setting of Prescott, Arizona.
- Prime location: close to downtown Prescott's Courthouse Square and nearby trailheads.
- Spacious floor plans with high‑quality finishes and modern conveniences.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$680,129
Cap Rate
4.69%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$13,602,580
$13.6M
Cap Rate 7%
$9,716,129
$9.7M
Cap Rate 9%
$7,556,989
$7.6M
Market Conditions
NOI Build-Up for 63,808 SF
Gross rent
$1.30M $20.40/SF
− Vacancy
−$65.1K −$1.02/SF
EGI
$1.24M $19.38/SF
− OpEx
−$556.5K −$8.72/SF
NOI
$680.1K $10.66/SF
Area
Yavapai County, AZ
Vacancy
5.00%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$13,602,580
Cap Rate 7%
$9,716,129
Cap Rate 9%
$7,556,989
Alternative Uses
Best Use
Apartment 5plus
$9.72M
$8.50M – $11.34M
NOI $680,129 @ 7.0% cap · market cap 4.69%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$21.38M
$18.70M – $24.94M
NOI $1,496,285 @ 7.0% cap · market cap 10.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
114
Businesses Nearby
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Business Placement
Demographics for 86303, AZ
18,201
Population
12,255
Households
1.5
Avg Household Size
61
Median Age
41%
College-Educated
96%
High-School Grad
107.2 sq mi
ZIP Area
170
Density / Sq Mi
$68,656
Median Household Income
$44,428
Median Earnings
$1,309
Median Rent
$502,400
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
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Frequently Asked Questions
What type of property is this?
Apartment building - Boutique multifamily community with modern finishes and tranquil environment.
Where is this apartment building located?
The property is located at 1257 White Spar Rd Prescott, AZ.
What is the asking price?
The asking price for this property is $14,500,000.
What are key features of this property?
This property features: Newly built (2024) luxury apartments in a desirable mountain setting of Prescott, Arizona.; Prime location: close to downtown Prescott's Courthouse Square and nearby trailheads.; Spacious floor plans with high‑quality finishes and modern conveniences.
