Historic 17-Unit Apartment
320 S Cortez Street Prescott, AZ 86303
320 S Cortez Street, Prescott, AZ, 86303
$3,286,000
For Sale
$3,286,000
MULTI_FAMILY - Prescott, AZ
Property Size10,000 SF
Lot Size0.34 Acres
Price / SF$328.60
Days on Market50
Property Features for 320 S Cortez Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- residential
- Bedrooms
- 17
- Bathrooms
- 17
- Rooms
- Bedroom 6, Bathroom 12, Bathroom 14, Bedroom 16, Bedroom 11, Bedroom 10, Bathroom 5, Bathroom 1, Bathroom 15, Bathroom 7, Bathroom 3, Bedroom 4, Bedroom 2, Bathroom 10, Bathroom 17, Bedroom 12, Bedroom 15, Bedroom 5, Bathroom 9, Bathroom 8, Bedroom 3, Bedroom 1, Bathroom 11, Bathroom 4, Bedroom 14, Bathroom 16, Bedroom 7, Bathroom 6, Bedroom 9, Bathroom 2, Bedroom 13, Bedroom 17, Bathroom 13, Bedroom 8
- Exterior features
- Laundry Facilities
- Standard status
- Active
- APN
- 7
- Lot size
- 0.34 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Description
- PRESCOTT ORIGINAL TOWNSITE PER MP 4/22 LOT 7 & 9 BLK 26 LESS THE N 8' OF THE E 52.2'
- Tax Annual Amount
- 2950
Utilities
- Utilities
- Cable Available
- Heating system
- Baseboard, Electric (Heating)
- Cooling system
- Ceiling Fan(s)
- Water source
- Public
Building Details
- Year built
- 1942
- Number of units
- 17
- Flooring type
- Laminate, Vinyl, Tile, Wood
- Building materials
- Brick
- Roof type
- Asphalt
Listing agency
Delex Realty, LLC
(602) 910-3002
Listed by
Michael A Aldridge · License #SA571999000
(602) 762-4830
Added: Jun 3 Updated: Jul 22 at 12:33AM Checked: Jul 22 at 5:06AM
MLS# 1082558
Copyright © 2026 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.
Investment Insights
Based on property information with market context.
This historic 17-unit apartment building, known as The Pillars, was built in 1919 and features a brick-and-concrete construction. The unit mix includes 7 studios and 10 one-bedroom apartments. Some units retain original hardwood flooring, preserving original historic character within the residential interiors. The property also includes on-site, coin-operated laundry facilities and a gated lower-level entrance with private parking for residents.
Located in downtown Prescott, the complex is described as steps away from Courthouse Square, placing it near shopping, dining, and local events. The building sits on a 0.34-acre lot and includes mountain and city views from some units. It is presented as a long-standing residential income property under residential zoning.
For investors and owner-operators seeking a small, low-rise multifamily with on-site laundry and resident parking, The Pillars offers a straightforward configuration with studio and one-bedroom options. The building’s historic details and partially preserved original finishes may appeal to tenants looking for downtown character, while the existing on-site amenities support convenient day-to-day living.
Located in downtown Prescott, the complex is described as steps away from Courthouse Square, placing it near shopping, dining, and local events. The building sits on a 0.34-acre lot and includes mountain and city views from some units. It is presented as a long-standing residential income property under residential zoning.
For investors and owner-operators seeking a small, low-rise multifamily with on-site laundry and resident parking, The Pillars offers a straightforward configuration with studio and one-bedroom options. The building’s historic details and partially preserved original finishes may appeal to tenants looking for downtown character, while the existing on-site amenities support convenient day-to-day living.
Key Highlights
- 17‑unit apartment building at 320 S. Cortez St., Prescott, AZ (86303) on a 0.34‑acre lot
- Unit mix includes 7 studios and 10 one‑bedroom apartments
- Approx. 10,000 SF interior livable area with multiple bedrooms and bathrooms across the 17 units
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $204.0k | $20.40 |
| − Vacancy | −$10.2k | −$1.02 |
| EGI | $193.8k | $19.38 |
| − OpEx | −$87.2k | −$8.72 |
| NOI | $106.6k | $10.66 |
10,000 SF · lease $20.40/SF/yr · vacancy 5.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.52M
$1.33M – $1.78M
NOI $106,590 @ 7.0% cap · market cap 3.24%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$3.35M
$2.93M – $3.91M
NOI $234,498 @ 7.0% cap · market cap 7.14%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Village Apartment
Apartment Building
Pillars
Apartment Building
Prescott Advertising
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FAQs
What type of property is this?
Apartment building - Brick-and-concrete 1919 multifamily with on-site coin laundry and gated lower-level private parking.
Where is this apartment building located?
The property is located at 320 S Cortez Street 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: 17‑unit apartment building at 320 S. Cortez St., Prescott, AZ (86303) on a 0.34‑acre lot; Unit mix includes 7 studios and 10 one‑bedroom apartments; Approx. 10,000 SF interior livable area with multiple bedrooms and bathrooms across the 17 units
