320 S Cortez Street, Prescott, AZ 86303
Local realty services provided by:Better Homes and Gardens Real Estate BloomTree Realty
320 S Cortez Street,Prescott, AZ 86303
$3,286,000
- - Beds
- - Baths
- 8,143 sq. ft.
- Multi-family
- Active
Listed by: michael a aldridge
Office: delex realty, llc.
MLS#:1076780
Source:AZ_PAAR
Price summary
- Price:$3,286,000
- Price per sq. ft.:$403.54
About this home
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 highlightsHistoric 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 potentialThis 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 detailsAddress: 320 S. Cortez St., Prescott, AZ 86303Total units: 17Year built: 1919Total interior livable area: ~10,000 sq ftLot size: 0.34 acresFeatures: On-site laundry, gated parking, historic details, mountain and city views from some unitsFor 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.
Contact an agent
Home facts
- Year built:1942
- Listing ID #:1076780
- Added:43 day(s) ago
- Updated:November 10, 2025 at 06:02 PM
Rooms and interior
- Living area:8,143 sq. ft.
Heating and cooling
- Cooling:Ceiling Fan(s)
- Heating:Baseboard, Electric
Structure and exterior
- Year built:1942
- Building area:8,143 sq. ft.
- Lot area:0.34 Acres
Finances and disclosures
- Price:$3,286,000
- Price per sq. ft.:$403.54
- Tax amount:$2,859 (2024)
New listings near 320 S Cortez Street
- New
$995,000Active3 beds 3 baths2,671 sq. ft.5740 W Johnny Mullins Drive, Prescott, AZ 86305
MLS# 1077669Listed by: PRESCOTT LUXURY REALTY & INVESTMENTS - New
$998,000Active3 beds 4 baths2,529 sq. ft.2984 La Questa, Prescott, AZ 86305
MLS# 1077675Listed by: EXP REALTY - New
$375,000Active2 beds 1 baths1,210 sq. ft.609 Douglas Avenue, Prescott, AZ 86301
MLS# 1077676Listed by: KELLER WILLIAMS ARIZONA REALTY - New
$759,990Active3 beds 3 baths2,641 sq. ft.7049 Wallflower Way, Prescott, AZ 86305
MLS# 1077666Listed by: DH AZ REALTY, LLC - New
$159,000Active0.78 Acres4573 S Loma Drive, Prescott, AZ 86303
MLS# 1077663Listed by: KMF REAL ESTATE - Coming Soon
$440,000Coming Soon2 beds 2 baths316 S Cortez Street, Prescott, AZ 86303
MLS# 1077655Listed by: WEST USA REALTY, INC. - New
$429,000Active4 beds 2 baths1,644 sq. ft.824 W Rosser Street, Prescott, AZ 86301
MLS# 1077651Listed by: GENTRY REAL ESTATE - New
$364,999Active2 beds 3 baths1,338 sq. ft.212 Creekside Circle #2c, Prescott, AZ 86303
MLS# 1077647Listed by: SUPERLATIVE REALTY - New
$850,000Active3 beds 2 baths2,207 sq. ft.10901 N Deer Hill Lane, Prescott, AZ 86305
MLS# 1077648Listed by: EXP REALTY - New
$259,900Active2 beds 2 baths1,648 sq. ft.2244 Quail Drive #2244, Prescott Valley, AZ 86327
MLS# 1077640Listed by: CLARK REALTY HOMES AND LAND