3-Unit Multifamily
For Sale
$720,000
2023 N Main Street, Flagstaff, AZ 86004
Three occupied rentals comprise a single-family home and a duplex.
Property Size2,663 SF
Price / SF$270.37
Days on Market11
Property Features for 2023 N Main Street
General Information
Standard status
Active
Size
2,663 SF
Property subtype
Residential Income
Occupancy
100%
Lease Term
1 Year +
Units
Unit Mix
2 x 2BR/1BA, 1 x 3BR/1BA
Multifamily Units
3
Additional Details
Gross Income
$57,600
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$2,457
Building Details
Building Size
2,663 SF
Year Built
1984
Buildings
2
Units
3
Listing Agency:
Highland Meadows Real Estate
Listed By:
Danielle Worthington · License #BR526281000
(928) 635-0376
Source:
Highlandmeadowsrealestate
Added: Oct 15
Changed: Oct 24
Last Checked: Oct 24 at 2:45PM
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 Highland Meadows Real Estate
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Investment Insights
Based on property information with market context.
At 2023 N Main Street in Flagstaff, this 2,663-square-foot multifamily property combines a single-family home with a duplex. The home has 2 bedrooms and 1 bathroom and was built in 1935. Built in 1984, the duplex contains one 3-bedroom, 1-bath unit and one 2-bedroom, 1-bath unit. All three residences have been remodeled and are occupied by tenants.
The lower-level duplex residence includes a fenced yard and attached shed. Off-street parking is available for tenants across the property.
The lower-level duplex residence includes a fenced yard and attached shed. Off-street parking is available for tenants across the property.
Key Highlights
- Three occupied rental units: a 2‑bedroom home and two duplex residences
- Single‑family home built in 1935; duplex built in 1984
- Duplex unit mix: 3 bedrooms/1 bath and 2 bedrooms/1 bath
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,541
Cap Rate
3.13%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$450,820
$450.8K
Cap Rate 7%
$322,014
$322.0K
Cap Rate 9%
$250,456
$250.5K
Market Conditions
NOI Build-Up for 2,663 SF
Gross rent
$43.1K $16.20/SF
− Vacancy
−$2.2K −$0.81/SF
EGI
$41.0K $15.39/SF
− OpEx
−$18.4K −$6.93/SF
NOI
$22.5K $8.46/SF
Area
Coconino County, AZ
Vacancy
5.00%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$450,820
Cap Rate 7%
$322,014
Cap Rate 9%
$250,456
Alternative Uses
Best Use
Apartment 5plus
$322.0K
$281.8K – $375.7K
NOI $22,541 @ 7.0% cap · market cap 3.13%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$736.2K
$644.2K – $858.9K
NOI $51,535 @ 7.0% cap · market cap 7.16%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,012
Businesses Nearby
Explore this area
Business Placement
Demographics for 86004, AZ
38,451
Population
16,550
Households
2.3
Avg Household Size
37
Median Age
44%
College-Educated
95%
High-School Grad
914.5 sq mi
ZIP Area
42
Density / Sq Mi
$77,486
Median Household Income
$42,659
Median Earnings
$1,611
Median Rent
$464,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Multifamily property - Three occupied rentals comprise a single-family home and a duplex.
Where is this multifamily property located?
The property is located at 2023 N Main Street Flagstaff, AZ.
What is the asking price?
The asking price for this property is $720,000.
What are key features of this property?
This property features: Three occupied rental units: a 2‑bedroom home and two duplex residences; Single‑family home built in 1935; duplex built in 1984; Duplex unit mix: 3 bedrooms/1 bath and 2 bedrooms/1 bath
