601 S Cortez Street

    Prescott, AZ 86303
    • $3,350,000
    • STATUS: Active
    • ON SITE: 159 days
    • MLS #: 5939951
    UPDATED: 37 min ago
    $3,350,000
    • 0
      BEDS
    • N/A
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1961
    County:
    Area:

    School Ratings & Info

    School District:

    Description

    Cortez Circle is a well maintained 38-unit apartment community located in the Downtown area of Prescott, Arizona. The unit mix consists of four different floor plans from Studios to 2-bedrooms, with many of the apartments being 2-story townhome style units. Ownership has been in the process of renovating the complex. As of now, 17 apartments have been renovated at a cost between $3,000 & $6,000/unit. This includes paint, vinyl hardwood plank flooring, carpet, new microwave ovens, reframing of stairs, and more. These apartments easily bring an additional $50 - $150/month in rent - with little to no resistance - meaning a new owner can continue this plan with the remaining 21 apartments.

    Monthly Payment Calculator



    © 2019 Arizona Regional Multiple Listing Service, Inc. All rights reserved. All information should be verified by the recipient and none is guaranteed as accurate by ARMLS. The ARMLS logo indicates a property listed by a real estate brokerage other than The Kenny Klaus Team | Keller Williams Integrity First. Data last updated 2019-11-21T00:11:17.193.
    www.klausteam.com/homes/95946437

    601 S Cortez Street Prescott, AZ 86303

    • Price: $3,350,000
    • Status: Active
    • Updated: 37 min ago
    • MLS #: 5939951
    0
    Beds
    0
    Baths
    0
    ½ Baths
    N/A
    Acres
    1961
    Built
    Neighborhood:
    Cortez Street Apartments
    County:
    Yavapai
    Area:
    Prescott
    School District:
    000 - Out of Area
    Property Description
    Cortez Circle is a well maintained 38-unit apartment community located in the Downtown area of Prescott, Arizona. The unit mix consists of four different floor plans from Studios to 2-bedrooms, with many of the apartments being 2-story townhome style units. Ownership has been in the process of renovating the complex. As of now, 17 apartments have been renovated at a cost between $3,000 & $6,000/unit. This includes paint, vinyl hardwood plank flooring, carpet, new microwave ovens, reframing of stairs, and more. These apartments easily bring an additional $50 - $150/month in rent - with little to no resistance - meaning a new owner can continue this plan with the remaining 21 apartments.
    Exterior Features

    Construction BrickFrame - Wood Construction Finish Painted Covered Parking Spaces 50.00 Exterior Amenities Desert LandscapingPartially FencedCable Tv AvailablePatio/BalconySeparate Storage Lot Size Dimensions Cortez Circle - 38 Units in Prescott For Sale Parking Free Roads ConcreteSidewalk(S) Roofing Comp Shingle Total Parking Spaces 100.00

    Interior Features

    1 Bedroom Unit Avg Sq Ft 96250 1 Bedroom Unit Baths 1 2 Bedroom Unit Avg Sq Ft 995 2 Bedroom Units Baths 1 3 Bedroom Unit Avg Sq Ft 0 3 Bedroom Unit Baths 0 4 Bedroom Unit Avg Sq Ft 0 4 Bedroom Unit Baths 0 Appliances Included F/S Oven/RangeRefrigeratorMicrowave Cooling Electric Refrigeratd Efficiency Unit Avg Sq Ft 455 Efficiency Unit Baths 1 Floors CarpetOther (See Remarks)Wood Heating Gas Interior Amenities UnfurnishedVertical Blinds

    Property Features

    1 Bedroom Unit Avg Rent 755.00 1 Bedroom Units 8 2 Bedroom Unit Avg Rent 978.00 2 Bedroom Units 24 3 Bedroom Unit Avg Rent 0.00 3 Bedroom Units 0 4 Bedroom Unit Avg Rent 0.00 4 Bedroom Units 0 Adjusted Gross Inc 0.00 Annual Elec Exp 0.00 Annual Gas Exp 0.00 Annual Ins Exp 0.00 Annual Land Lse Exp 0.00 Annual Landscape Exp 0.00 Annual Legal And Acctg 0.00 Annual Maint Exp 0.00 Annual Mgmt Exp 0.00 Annual Other Expense 0.00 Annual Ownr Asoc Fee 0.00 Annual Pad Fee 0.00 Annual Rplcmnt Rsrvs 0.00 Annual Trash Exp 0.00 Annual Wtr Swr Exp 0.00 Community Amenities Pool(S)Exercise Room Cross Street Cortez Circle & Leroux Street Efficiency Unit Avg Rent 646.00 Efficiency Units 6 Electric Aps Gas Sw Gas Gross Annual Sch Inc 0.00 Hoa YN No Net Operating Income 272180.00 New Financing Other (See Remarks) Operating Exp 12832.18 Other Income 0.00 Other Type House + Rental Units Owner Pays Other (See Remarks) Project Type 100+ Units Sale Includes Land & Building Sewer Sewer - Public Source Of Financial Data Provided By OwnerProvided By Accntnt Status Update Multiple Offers Recd Tax Municipality Prescott Taxes 12832.18 Tenant Pays Other (See Remarks) Vacancy Allowance 0.00 Water City Franchise Zoning -

    Listing courtesy of Sperry Commercial.


    © 2019 Arizona Regional Multiple Listing Service, Inc. All rights reserved. All information should be verified by the recipient and none is guaranteed as accurate by ARMLS. The ARMLS logo indicates a property listed by a real estate brokerage other than The Kenny Klaus Team | Keller Williams Integrity First. Data last updated 2019-11-21T00:11:17.193.
     
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