Five-Unit Apartment
For Sale
$999,000
622 Western Ave, Prescott, AZ 86305
Fully occupied apartment property with individually metered utilities and month-to-month tenancies.
Property Size3,198 SF
Price / SF$312.38
Days on Market191
Property Features for 622 Western Ave
General Information
Standard status
Active
Size
3,198 SF
Property subtype
Multi-Family
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
Listing Agency:
Arizona Commercial
Listed By:
Abigail Chartier · License #SA710066000
(928) 642-3032
Source:
Searchprescotthouses
Added: Apr 9
Changed: Oct 1
Last Checked: Oct 14 at 11:04PM
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
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Investment Insights
Based on property information with market context.
Built in 1930, this 3,198-square-foot apartment building contains five units with a varied configuration: three 2-bedroom/1-bath residences, one 1-bedroom/1-bath residence, and one studio. The property is fully occupied, and all tenants are on month-to-month arrangements.
Gas and electric service are separately metered for each unit, supporting straightforward utility administration. The building is located at 622 Western Ave in Prescott, Arizona, with the property described as being at Downtown Prescott.
Gas and electric service are separately metered for each unit, supporting straightforward utility administration. The building is located at 622 Western Ave in Prescott, Arizona, with the property described as being at Downtown Prescott.
Key Highlights
- Five‑unit apartment building totaling 3,198 square feet
- Unit mix includes three 2‑bedroom/1‑bath units, one 1‑bedroom/1‑bath unit, and one studio
- Fully occupied property
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
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Current Use
Lease Details
5
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
2,842
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
Check the figures for this property
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?
Apartment building - Fully occupied apartment property with individually metered utilities and month-to-month tenancies.
Where is this apartment building located?
The property is located at 622 Western Ave 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 building totaling 3,198 square feet; Unit mix includes three 2‑bedroom/1‑bath units, one 1‑bedroom/1‑bath unit, and one studio; Fully occupied property
