College View Apartments 1220 E Second St 25 Unit Apartment Building $1,964,509 CAD ($78,580 CAD/Unit) 7.16% Cap Rate Winslow, AZ 86047

College View Apartments presents a rare opportunity to acquire a fully occupied, 25-unit multifamily asset in Northern Arizona with immediate cash flow and built-in upside.
This two-building portfolio includes a mix of studio, one-bedroom, and two-bedroom units, appealing to a broad tenant base. The property is in C-class condition, with recent capital improvements that include newer 12,000 BTU mini-split A/C units, updated electrical panels, water heaters, and roof work. Several units have been partially renovated, while others offer additional value-add potential. All units are currently rented on month-to-month terms, providing flexibility for management and rent increases.
Stabilized Asset with Operational Upside
College View Apartments is a 25-unit multifamily investment spanning two contiguous buildings on two parcels in Winslow, Arizona, along the I-40 corridor. The property is fully leased and offers investors a rare combination of documented rent growth, completed capital improvements, and a clear, disclosed path to stabilized cash flow.
Investment Highlights
Fully leased, 25 units across two buildings
Gross Scheduled Income grew from $194,100 to $243,900 during 2025, with current market rent analysis showing $280,500 in annual potential — approximately $36,600 in documented remaining upside. 2025 Pro Forma NOI of $99,906, reflecting a 7.16% cap rate at the current list price (current in-place rent with one-time, seller-disclosed adjustments — full itemized pro forma available)Recently completed capital improvements: new gas water heaters, updated electrical panels and conduit, and unit-level upgrades at turnover including flooring, appliances, and cabinetry. On-site management; utilities (water, sewer, trash, electric, gas, cable) included in rent, supporting strong tenant retention
Free and clear — no assumable debt to navigate. Recently reduced from $1,690,000 to $1,395,000 ($233/sq ft on 5,984 sq ft)
Built in 1962, zoned C66 (commercial), corner-adjacent lot totaling approximately 0.26–0.9 acres across two parcels. Leases are month-to-month, providing flexibility to continue repositioning rents to market.
A full pro forma operating statement — showing 2024 actual, 2025 actual, 2025 pro forma, and 2026 year-to-date figures with every adjustment sourced — along with the current rent roll and P&L, is available upon request.
Situated in Winslow, AZ—a supply-constrained rental market with minimal multifamily competition
Proximity to employment, services, and schools
Easy access to I-40 and major regional corridors
Ideal for Investors Seeking:
Turnkey acquisition with in-place income
Light value-add repositioning
Long-term hold or 1031 exchange opportunity
Low-maintenance building systems post-renovation
This is a solid investment opportunity with strong fundamentals and a clear path to higher returns through simple operational adjustments. Contact us today for full financials, rent roll, and showing instructions.