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    345 W Johnson Ave Colorado City, AZ 86021

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    Pending
    $1,250,000

    Multi Family, Split-Level, 2 story + basement - Colorado City, AZ

    Type:Multi Family
    Property size:
    13,000 SF
    Lot size:
    0.94 Acres
    Added:
    Oct 8, 2025
    Days on Market:
    204
    Last Refresh:
    Apr 29 at 9:06 pm

    Property Features for 345 W Johnson Ave

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Multi Family
    Zoning
    Residential
    Bedrooms
    19
    Rooms
    Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5
    Patio and Porch features
    Patio, Deck
    Interior features
    Ceiling Fans, Fireplace- Wood, Wood Burning Stove, Flooring- Carpet, Flooring- Laminate
    Exterior features
    Curb & Gutter, Fenced- Partial, Landscape- Partial, Sidewalks, Trees, View Of Mountains, Deck(s) Uncovered, Patio- Covered
    Fencing
    Fenced
    Fireplace
    1
    Appliances
    Dishwasher, Dryer, Garbage Disposer, Microwave, Range, Refrigerator, Washer, Washer/Dryer Combo, Water - Softener
    Standard status
    Pending
    APN
    404-53-392
    Size
    13,000 SF
    Lot size
    0.94 Acres

    Taxes and HOA fees

    Tax Annual Amount
    3393

    Utilities

    Heating system
    Electric (Heating), Wood (Heating)
    Cooling system
    Central Air, Electric, Wall Unit(s)

    Building Details

    Year built
    1987
    Number of units
    7
    Flooring type
    Carpet, Laminate, Tile
    Building materials
    Frame, Stucco
    Roof type
    Shingle
    Architectural style
    Other

    We can help!

    Listing Contact
    Janetta Jessop

    Listing agent Janetta Jessop License #SA708289000

    Listing office eXp Realty 10 N. Rainbow, Scottsdale, AZ

    Listing date Oct 8, 2025

    MLS# 1501059 Listing URL

    Copyright © 2026 Fredonia MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Multifamily Property in Colorado City

    This multifamily property in Colorado City, Arizona, features seven units with a total of 19 bedrooms and 16.5 bathrooms. Situated on a 0.94-acre lot, the property generates $10,000 per month in income, with all units currently leased. Each unit has its own outdoor entry. Recent remodeling includes a finished basement, high-end tile, LVP flooring, carpet, updated appliances, and granite countertops. The property is professionally managed and located in a strong rental market. The building has a split-level, two-story design with a basement and a total size of 13,000 square feet. Ample parking is available for tenants.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Map

    City
    Colorado City
    County
    Mohave
    State
    Arizona
    Longitude
    -112.9816882
    Latitude
    36.9863547

    Nearby Similar for Sale

    • $520,000

      Remodeled Duplex on Large Lot

      Remodeled duplex with expansion potential in Colorado City, Arizona.
      645 S Barlow Street, Colorado City, AZ 86021
      View Details
    • $520,000
      2,634 SF

      Remodeled Duplex on Large Lot

      Remodeled duplex on a large lot with expansion potential.
      465 S Barlow St, Colorado City, AZ 85021
      View Details

    FAQs

    What type of property is this?
    Apartment building - Seven-unit multifamily property generating $10,000 monthly income in Colorado City.
    Where is this apartment building located?
    The property is located at 345 W Johnson Ave Colorado City, AZ.
    What is the asking price?
    The asking price for this property is $1,250,000.
    What are key features of this property?
    This property features: Generates $10,000/month in cash flow with all 7 units fully leased.; Recently remodeled with updated appliances, granite countertops, high‑end tile, LVP flooring, and carpet throughout.; 7‑unit multifamily property with 19 bedrooms and 16.5 bathrooms on a nearly 1‑acre lot.
    (435) 319-9434
    We can help!
    Listing Contact
    Janetta Jessop
    Real Estate License ID: SA708289000
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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