5-Unit Apartment
For Sale
Contact for pricing
622/624 Western Ave. 201/201 1/2/203 Garden St., Prescott, AZ 86305
Fully occupied property with a varied unit mix, separate gas and electric metering, and month-to-month tenancies.
Property Size3,198 SF
Price / SF$312.38
Days on Market222
Property Features for 622/624 Western Ave. 201/201 1/2/203 Garden St.
General Information
Standard status
Active
Size
3,198 SF
Property subtype
Multifamily
Zoning
BG - Business General
Occupancy
100%
Units
Unit Mix
3 x 2BR/1BA, 1 x 1BR/1BA, 1 x studio
Multifamily Units
5
Additional Details
Gross Income
$86,160
Building Details
Year Built
1930
Buildings
4
Stories
1
Units
5
Tenancy
Multi
Construction
garden
Listing Agency:
Arizona Commercial Real Estate
Listed By:
Abigail Chartier · License #SA710066000
(928) 642-3032
Source:
Crexi
Added: Mar 9
Changed: Oct 4
Last Checked: Oct 16 at 9:16AM
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 Real Estate
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 5-unit apartment property contains three 2-bedroom/1-bath units, one 1-bedroom/1-bath unit, and one studio. The 3,198-square-foot building was constructed in 1930 and is fully occupied. Gas and electric service are individually metered for each unit, while month-to-month tenancy provides flexibility for future ownership.
The property is located at 622/624 Western Ave. and 201/201 1/2/203 Garden St. in Prescott, Arizona. Zoning is BG - Business General. The combination of five residences, varied layouts, separate utility metering, and existing occupancy provides a straightforward multifamily configuration.
The property is located at 622/624 Western Ave. and 201/201 1/2/203 Garden St. in Prescott, Arizona. Zoning is BG - Business General. The combination of five residences, varied layouts, separate utility metering, and existing occupancy provides a straightforward multifamily configuration.
Key Highlights
- Five‑unit apartment property with three 2‑bedroom/1‑bath units, one 1‑bedroom/1‑bath unit, and one studio
- 3,198 square feet constructed in 1930
- Fully occupied with month‑to‑month tenancies
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$34,087
Cap Rate
3.41%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$681,740
$681.7K
Cap Rate 7%
$486,957
$487.0K
Cap Rate 9%
$378,744
$378.7K
Market Conditions
NOI Build-Up for 3,198 SF
Gross rent
$65.2K $20.40/SF
− Vacancy
−$3.3K −$1.02/SF
EGI
$62.0K $19.38/SF
− OpEx
−$27.9K −$8.72/SF
NOI
$34.1K $10.66/SF
Area
Yavapai County, AZ
Vacancy
5.00%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$681,740
Cap Rate 7%
$486,957
Cap Rate 9%
$378,744
Alternative Uses
Best Use
Apartment 5plus
$487.0K
$426.1K – $568.1K
NOI $34,087 @ 7.0% cap · market cap 3.41%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$1.07M
$937.4K – $1.25M
NOI $74,992 @ 7.0% cap · market cap 7.51%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
2,931
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
Frequently Asked Questions
What type of property is this?
Apartment building - Fully occupied property with a varied unit mix, separate gas and electric metering, and month-to-month tenancies.
Where is this apartment building located?
The property is located at 622/624 Western Ave. 201/201 1/2/203 Garden St. Prescott, AZ.
What is the asking price?
The asking price for this property is $999,000.
What are key features of this property?
This property features: Five‑unit apartment property with three 2‑bedroom/1‑bath units, one 1‑bedroom/1‑bath unit, and one studio; 3,198 square feet constructed in 1930; Fully occupied with month‑to‑month tenancies
