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3 E Cottage Ave 10 Unit Apartment Building $2,066,250 CAD ($206,625 CAD/Unit) Flagstaff, AZ 86001
Investment Highlights
- Fully renovated in 2024 with updated interiors and refreshed exterior improvements.
- Proforma cap rate of 6.5%, offering strong income potential.
- Established rental history with consistent occupancy and demand in a supply-constrained market.
- Located within walking distance to NAU, downtown Flagstaff, and key transit routes.
- Well-balanced unit mix designed to attract a broad tenant base.
- Upside opportunities include potential rent adjustments and operational efficiencies.
Executive Summary
This fully renovated 10-unit apartment complex in downtown Flagstaff offers a compelling investment opportunity in one of Northern Arizona’s strongest rental markets. The property is located just steps from historic Route 66 and within walking distance to Northern Arizona University, ensuring a steady stream of tenant demand from both students and professionals. Extensive 2024 renovations have introduced modern interior finishes and updated exterior enhancements, reducing near-term capital expenditure requirements.
The asset includes a diverse unit mix along with an on-site coin-operated laundry facility, further enhancing income potential. With a proforma cap rate of 6.5% and a stable operating environment, this property offers immediate cash flow and strong long-term appreciation prospects. Investors benefit from minimal inventory competition in the Flagstaff multifamily sector and dependable rental demand driven by continued enrollment growth and a robust local economy.
The asset includes a diverse unit mix along with an on-site coin-operated laundry facility, further enhancing income potential. With a proforma cap rate of 6.5% and a stable operating environment, this property offers immediate cash flow and strong long-term appreciation prospects. Investors benefit from minimal inventory competition in the Flagstaff multifamily sector and dependable rental demand driven by continued enrollment growth and a robust local economy.
Property Facts
| Price | $2,066,250 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $206,625 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.23 AC |
| No. Units | 10 | Building Size | 3,573 SF |
| Property Type | Multifamily | No. Stories | 1 |
| Property Subtype | Apartment | Year Built/Renovated | 1930/2024 |
| Zoning | HR - High Density Residential | ||
| Price | $2,066,250 CAD |
| Price Per Unit | $206,625 CAD |
| Sale Type | Investment |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.23 AC |
| Building Size | 3,573 SF |
| No. Stories | 1 |
| Year Built/Renovated | 1930/2024 |
| Zoning | HR - High Density Residential |
Amenities
Unit Amenities
- Air Conditioning
Site Amenities
- Courtyard
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 8 | - | - |
| 2+1 | 2 | - | - |
Moderately walkable
60/100
Very drivable
80/100
Some public transit
50/100
Moderately bikeable
70/100
Property Taxes
| Parcel Numbers | Improvements Assessment | $0 CAD | |
| Land Assessment | $0 CAD | Total Assessment | $58,778 CAD |
Property Taxes
Parcel Numbers
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$58,778 CAD
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3 E Cottage Ave
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