609 S Granite St 3 Unit Apartment Building $1,627,137 CAD ($542,379 CAD/Unit) 1.80% Cap Rate Prescott, AZ 86303

This is an outstanding opportunity for a vacation rental business or long term rental investment. All units are currently STR (Vacation Rentals) but can easily be converted to long-term. All units are fully furnished (which will be included in the sale of the property making it easy to continue running as STR) Units are all currently managed by a property manager which can continue if the new investor wishes to continue. The current occupancy of the units average around 55-60%, this allows for many options for increasing monthly income. New investor my keep Main House as STR and convert back duplex units to long-term rentals, potentially allowing immediate increase in monthly income. Investor may opt to live in one of the units and keep others as STR or long-term. All units were Updated/Refreshed in 2023/2024. New Roof over entire complex in 2023. New mini-splits added.
Great location, 1/2 mile from the well know historic Prescott Down Town Courthouse Plaza and Whiskey Row. Very walkable for most individuals. Prescott is well know for it's outdoor activities such as off-roading, hiking, kayaking, horseback riding, and biking, along with many other activities.
The main house was build in 1924 (Not registered as a Historic Property) The original wood flooring, wood interior doors, and original tin ceilings were re-finished, adding a beautiful original vintage vibe. Lovely chandeliers and ceiling fans add to the homes charm. The cabinets in kitchen and bathrooms are all new. The main house is a 2/2 with approx. 850 sq. ft. Parking area in front of the unit, sufficient for 3 vehicles. Back yard is completely fenced in with pavers, AstroTurf, string lighting, BBQ, and table and chairs.
The back Duplex was built in 1970 and was completely Refreshed in 2023/2024, including new roof and new kitchen and bathroom cabinets. Both units are 3 bed/1 bath units with approx. 1000 sq. ft. Units have separate entrances on opposite sides of the building allowing for guest privacy. Parking and access are via the alley way. Both units have parking for 2 vehicles with additional parking along alley way. Both units have outdoor areas with table and chairs. Both units have their own washer and dryer within the unit. Units have ceiling fans in the living room and bedrooms, a mini-split in living room, and cadet heaters in the bedrooms.