320 S Cortez Street, Prescott, AZ 86303 (MLS# 1082558)

320 S Cortez Street, Prescott, AZ 86303

New Listing

$3,286,000

Property Type: Multi-Family Square Footage: 8,143 Lot Size (sq. ft.): 14,810 Status: Active

Current Price: $3,286,000 List Date: 6/04/2026 Last Modified: 6/04/2026

Overview

Description

Prime Investment Opportunity: Historic 17-Unit Apartment Complex in Downtown Prescott. Presenting a rare and lucrative opportunity to acquire a historic multi-family property at 320 S. Cortez Street, located in the heart of downtown Prescott, Arizona. This well-maintained, 17-unit apartment building, known as The Pillars, offers a compelling investment in a highly desirable and stable rental market. Property highlights • Historic charm: Built in 1919, this property boasts classic architectural features, and some units retain original hardwood flooring, offering residents a unique and sought-after living experience. • Ideal unit mix: The building consists of 17 units, including 7 studios and 10 one-bedroom apartments, appealing to a wide range of tenants seeking downtown living. • Prime downtown location: The complex is steps away from Prescott's iconic Courthouse Square, a destination for shopping, dining, and local events. Its central location ensures consistently ... (Read more) Prime Investment Opportunity: Historic 17-Unit Apartment Complex in Downtown Prescott. Presenting a rare and lucrative opportunity to acquire a historic multi-family property at 320 S. Cortez Street, located in the heart of downtown Prescott, Arizona. This well-maintained, 17-unit apartment building, known as The Pillars, offers a compelling investment in a highly desirable and stable rental market. Property highlights • Historic charm: Built in 1919, this property boasts classic architectural features, and some units retain original hardwood flooring, offering residents a unique and sought-after living experience. • Ideal unit mix: The building consists of 17 units, including 7 studios and 10 one-bedroom apartments, appealing to a wide range of tenants seeking downtown living. • Prime downtown location: The complex is steps away from Prescott's iconic Courthouse Square, a destination for shopping, dining, and local events. Its central location ensures consistently high demand from tenants who desire a walkable, vibrant lifestyle. • On-site amenities: A valuable feature for both tenants and investors, the property includes on-site, coin-operated laundry facilities and a gated lower-level entrance with private parking. • Proven income stream: With a solid history as a rental property, this investment offers a reliable revenue source and significant upside potential for a new owner through strategic enhancements and market-rate adjustments. • Solid construction: The brick-and-concrete building has an average construction quality and stands on a 0.34-acre lot, providing a durable foundation for long-term ownership. Investment potential This offering is perfect for investors looking to expand their portfolio with a high-demand, income-generating asset in Prescott, a market known for its strong rental performance. The Pillars provides a unique blend of historic appeal and modern investment stability. Some units have already been upgraded, and with an opportunity to continue renovations, a new owner can further increase property value and rental income. The Prescott rental market is consistently strong due to the city's robust local economy, popular tourist attractions, and a steady influx of new residents. As a relatively low-rise building, The Pillars offers a more intimate residential experience compared to larger, modern complexes. Property details • Address: 320 S. Cortez St., Prescott, AZ 86303 • Total units: 17 • Year built: 1919 • Total interior livable area: ~10,000 sq ft • Lot size: 0.34 acres • Features: On-site laundry, gated parking, historic details, mountain and city views from some units For more information and to schedule a private viewing, contact our commercial real estate specialist Michael Aldridge 602.762.4830. This exceptional opportunity won't last long. Title is being held open see private remarks.

Listing Details MLS# 1082558

ContractAddressLegal

Original List Price: 3286000
Listing Price: 3286000
Street #: 320
Direction: S
Street Name: Cortez
St Suffix: Street
City/Township: Prescott
State: AZ
Zip Code: 86303
Subdivision: Prescott Original Township
County: Yavapai
Tax Parcel: 109-03-016c

General Property Description

Lot #: 7
Bedrooms Possible: 17
Aprx Acres: 0.34
Total Liveable SqFt: 8143
Source of Measuremnt: County Assessor
Buildings: Yes
Year Built: 1942
Management: Mgmt Company
Gross Vol/Yr $: 254579
NOI $: 182003
Vac Rate %: 5
Cap %: 5.54
HOA Y/N: No
Solar Y/N: No
Baths - Full: 17
More than 5 Units: Yes
CAM $: 0

Tax Info

Taxes: 2950
Tax Year: 2025
Assessments $: 0

Unit 1

# BR: 17
# BA: 17

Contract/Address/Legal

List Price/SqFt: 404
Rent/Lease: No
REO/Short Sale: Not Applicable
Zoning: residential
Assessor's Book #: 109
Assessor's Map #: 3
Assessor's Parcel #: 16
Assessor Parcel Ltr: c
Legal: PRESCOTT ORIGINAL TOWNSITE PER MP 4/22 LOT 7 & 9 BLK 26 LESS THE N 8' OF THE E 52.2'

Remarks & Misc

Directions: From the Court house Plaza, on the corner of Gurley st and Cortez street. Go South on Cortez street approximately .3 of a mile and you will see the building on the right side of Cortez street.
Remarks: Prime Investment Opportunity: Historic 17-Unit Apartment Complex in Downtown Prescott. Presenting a rare and lucrative opportunity to acquire a historic multi-family property at 320 S. Cortez Street, located in the heart of downtown Prescott, Arizona. This well-maintained, 17-unit apartment building, known as The Pillars, offers a compelling investment in a highly desirable and stable rental market. Property highlights • Historic charm: Built in 1919, this property boasts classic architectural features, and some units retain original hardwood flooring, offering residents a unique and sought-after living experience. • Ideal unit mix: The building consists of 17 units, including 7 studios and 10 one-bedroom apartments, appealing to a wide range of tenants seeking downtown living. • Prime downtown location: The complex is steps away from Prescott's iconic Courthouse Square, a destination for shopping, dining, and local events. Its central location ensures consistently high demand from tenants who desire a walkable, vibrant lifestyle. • On-site amenities: A valuable feature for both tenants and investors, the property includes on-site, coin-operated laundry facilities and a gated lower-level entrance with private parking. • Proven income stream: With a solid history as a rental property, this investment offers a reliable revenue source and significant upside potential for a new owner through strategic enhancements and market-rate adjustments. • Solid construction: The brick-and-concrete building has an average construction quality and stands on a 0.34-acre lot, providing a durable foundation for long-term ownership. Investment potential This offering is perfect for investors looking to expand their portfolio with a high-demand, income-generating asset in Prescott, a market known for its strong rental performance. The Pillars provides a unique blend of historic appeal and modern investment stability. Some units have already been upgraded, and with an opportunity to continue renovations, a new owner can further increase property value and rental income. The Prescott rental market is consistently strong due to the city's robust local economy, popular tourist attractions, and a steady influx of new residents. As a relatively low-rise building, The Pillars offers a more intimate residential experience compared to larger, modern complexes. Property details • Address: 320 S. Cortez St., Prescott, AZ 86303 • Total units: 17 • Year built: 1919 • Total interior livable area: ~10,000 sq ft • Lot size: 0.34 acres • Features: On-site laundry, gated parking, historic details, mountain and city views from some units For more information and to schedule a private viewing, contact our commercial real estate specialist Michael Aldridge 602.762.4830. This exceptional opportunity won't last long. Title is being held open see private remarks.

More Information

Office/Member Info

Listing Exclusions: No

Building Type

5+ Units: Yes

Construction

Brick: Yes

Cooling

Ceiling Fan(s): Yes

External Amenities

Laundry Facilities: Yes

Flooring

Laminate: Yes
Tile: Yes
Vinyl: Yes
Wood: Yes

Heating

Baseboard: Yes
Electric: Yes

Owner Pays

Electric: Yes
Gas/Propane: Yes
Sewer: Yes
Trash: Yes
Water: Yes

Records Available

None: Yes

Road Frontage Type

City Street: Yes

Road Surface Type

Alley Paved: Yes
Asphalt: Yes
Paved: Yes

Road Responsibility

City Maintained Road: Yes

Roof

Asphalt Shingle: Yes

Terms & Conditions

1031 Exchange: Yes
Conventional: Yes

Utilities Installed

220: Yes
Cable TV: Yes
Electricity: Yes
Natural Gas: Yes
Telephone: Yes
Water - City: Yes

Water Heater

Central Boiler: Yes
Electric: Yes
Natural Gas: Yes

Property Features

Building Type: 5+ Units Construction: Brick Cooling: Ceiling Fan(s) External Amenities: Laundry Facilities Flooring: Laminate; Tile; Vinyl; Wood Heating: Baseboard; Electric Owner Pays: Electric; Gas/Propane; Sewer; Trash; Water Records Available: None Road Frontage Type: City Street Road Surface Type: Alley Paved; Asphalt; Paved Road Responsibility: City Maintained Road Roof: Asphalt Shingle Utilities Installed: 220; Cable TV; Electricity; Natural Gas; Telephone; Water - City Water Heater: Central Boiler; Electric; Natural Gas

Listing Office: Delex Realty, LLC

Last Updated: June - 04 - 2026

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