Three-Unit Multifamily
For Sale
$699,000
615 W Hillside Ave, Prescott, AZ 86301
Centrally located Prescott triplex with two 2-bedroom units and one 1-bedroom unit.
Property Size2,199 SF
Price / SF$317.87
Days on Market151
Property Features for 615 W Hillside Ave
General Information
Standard status
Active
Size
2,199 SF
Property subtype
Multi-Family
Occupancy
100%
Additional Details
Multifamily Units
3
Building Details
Year Built
1934
Tenancy
Multi
Listing Agency:
Keller Williams Arizona Realty
Listed By:
David Coyne · License #SA691411000
(928) 363-6330
Source:
Searchprescotthouses
Added: May 28
Changed: Oct 25
Last Checked: Oct 24 at 5:14PM
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 Keller Williams Arizona Realty
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Investment Insights
Based on property information with market context.
This property is a fully rented three-unit multifamily investment in Prescott. The building includes two separate 2-bedroom, 1-bath units at 615 and 613 W Hillside Avenue. Those units were originally built in 1934. A third unit at 611 W Hillside Avenue provides a 1-bedroom, 1-bath layout and was built in 1995.
The asset is positioned in the heart of Prescott, within convenient proximity to downtown Prescott and a range of shopping, dining, and local amenities. This central setting supports everyday accessibility for residents.
For investors or owner-operators seeking a small residential income property, the current configuration offers a mix of unit sizes—two larger 2-bedroom homes alongside a separate 1-bedroom residence—within one three-unit structure. Because the property is described as fully rented, it may appeal to buyers looking to take over an income-producing asset with existing tenants already in place. Units are individually addressed within the same overall property, simplifying property-level management while maintaining distinct living spaces.
The asset is positioned in the heart of Prescott, within convenient proximity to downtown Prescott and a range of shopping, dining, and local amenities. This central setting supports everyday accessibility for residents.
For investors or owner-operators seeking a small residential income property, the current configuration offers a mix of unit sizes—two larger 2-bedroom homes alongside a separate 1-bedroom residence—within one three-unit structure. Because the property is described as fully rented, it may appeal to buyers looking to take over an income-producing asset with existing tenants already in place. Units are individually addressed within the same overall property, simplifying property-level management while maintaining distinct living spaces.
Key Highlights
- Triplex in central Prescott with 3 total units: two 2‑bedroom, 1‑bath units and one 1‑bedroom, 1‑bath unit
- Two units at 615 and 613 are 2BD/1BA and were originally built in 1934
- Separate unit at 611 is a 1BD/1BA and was built in 1995
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,177
Cap Rate
3.60%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$503,540
$503.5K
Cap Rate 7%
$359,671
$359.7K
Cap Rate 9%
$279,744
$279.7K
Market Conditions
NOI Build-Up for 2,199 SF
Gross rent
$38.3K $17.40/SF
− Vacancy
−$2.3K −$1.04/SF
EGI
$36.0K $16.36/SF
− OpEx
−$10.8K −$4.91/SF
NOI
$25.2K $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 Rate 5%
$503,540
Cap Rate 7%
$359,671
Cap Rate 9%
$279,744
Alternative Uses
Best Use
Multifamily LT 5
$359.7K
$314.7K – $419.6K
NOI $25,177 @ 7.0% cap · market cap 3.60%
Second Best
Apartment 5plus
$334.8K
$293.0K – $390.7K
NOI $23,439 @ 7.0% cap · market cap 3.35%
Theoretical Best
Warehouse
$736.7K
$644.6K – $859.4K
NOI $51,566 @ 7.0% cap · market cap 7.38%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,966
Businesses Nearby
Explore this area
Business Placement
Demographics for 86301, AZ
25,115
Population
13,863
Households
1.8
Avg Household Size
57
Median Age
37%
College-Educated
96%
High-School Grad
33.4 sq mi
ZIP Area
752
Density / Sq Mi
$71,962
Median Household Income
$33,989
Median Earnings
$1,580
Median Rent
$495,100
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
Frequently Asked Questions
What type of property is this?
Triplex - Centrally located Prescott triplex with two 2-bedroom units and one 1-bedroom unit.
Where is this triplex located?
The property is located at 615 W Hillside Ave Prescott, AZ.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Triplex in central Prescott with 3 total units: two 2‑bedroom, 1‑bath units and one 1‑bedroom, 1‑bath unit; Two units at 615 and 613 are 2BD/1BA and were originally built in 1934; Separate unit at 611 is a 1BD/1BA and was built in 1995
