Remodeled Three-Unit
For Sale
$759,000
1490 W Gurley St, Prescott, AZ 86305
Updated Prescott property with rental-ready units, central air, ceiling fans, and six parking spaces.
Property Size1,902 SF
Price / SF$399.05
Days on Market130
Property Features for 1490 W Gurley St
General Information
Standard status
Active
Size
1,902 SF
Units
Unit Mix
3 x 1BR/1BA
Multifamily Units
3
Additional Details
Sprinkler System
Yes
Building Details
Year Built
1983
Buildings
1
Listing Agency:
Arizona Commercial
(928) 710-2094
Listed By:
Denise Raney
Source:
Legacyren
Added: Apr 24
Changed: Aug 29
Last Checked: Aug 30 at 7:38PM
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 Arizona Commercial
Investment Insights
Based on property information with market context.
This 1,902-square-foot triplex at 1490 W Gurley Street in Prescott contains three one-bedroom, one-bathroom units. The 1983 building has undergone extensive remodeling and includes contemporary interior updates, central air, ceiling fans, and a sprinkler system. Six parking spaces serve the property.
The units are configured for short- to medium-term rental use and have an established rental history. Their current setup supports flexible occupancy formats while retaining a consistent three-unit layout. The property combines updated interiors with practical building and parking features in a single multifamily asset.
The units are configured for short- to medium-term rental use and have an established rental history. Their current setup supports flexible occupancy formats while retaining a consistent three-unit layout. The property combines updated interiors with practical building and parking features in a single multifamily asset.
Key Highlights
- 1,902‑square‑foot triplex with three one‑bedroom, one‑bathroom units
- Extensively remodeled building with updated contemporary interiors
- Configured and serviced for short- to medium‑term rentals
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$21,776
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
2.87%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$435,520
$435.5K
Cap Rate 7%
$311,086
$311.1K
Cap Rate 9%
$241,956
$242.0K
Market Conditions
NOI Build-Up for 1,902 SF
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.
Gross rent
$33.1K $17.40/SF
− Vacancy
−$2.0K −$1.04/SF
EGI
$31.1K $16.36/SF
− OpEx
−$9.3K −$4.91/SF
NOI
$21.8K $11.45/SF
Area
Yavapai County, AZ
Vacancy
6.00%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$435,520
Cap Rate 7%
$311,086
Cap Rate 9%
$241,956
Alternative Uses
Best Use
Multifamily LT 5
$311.1K
$272.2K – $362.9K
NOI $21,776 @ 7.0% cap · market cap 2.87%
Second Best
Apartment 5plus
$289.6K
$253.4K – $337.9K
NOI $20,273 @ 7.0% cap · market cap 2.67%
Theoretical Best
Warehouse
$637.2K
$557.5K – $743.4K
NOI $44,602 @ 7.0% cap · market cap 5.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
276
Businesses Nearby
Explore this area
Business Placement
Demographics for 86305, AZ
19,555
Population
10,920
Households
1.8
Avg Household Size
62
Median Age
47%
College-Educated
97%
High-School Grad
588.5 sq mi
ZIP Area
33
Density / Sq Mi
$78,802
Median Household Income
$37,630
Median Earnings
$1,132
Median Rent
$627,100
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Updated Prescott property with rental-ready units, central air, ceiling fans, and six parking spaces.
Where is this triplex located?
The property is located at 1490 W Gurley St Prescott, AZ.
What is the asking price?
The asking price for this property is $759,000.
What are key features of this property?
This property features: 1,902‑square‑foot triplex with three one‑bedroom, one‑bathroom units; Extensively remodeled building with updated contemporary interiors; Configured and serviced for short- to medium‑term rentals
