309 S Montezuma Street
Prescott, AZ 86303
$3,400,000
Built in 1905, The Aspens on Montezuma presents a unique opportunity to acquire a charming, 20-unit multifamily community in the heart of historic Prescott, Arizona. Situated just blocks from the iconic Courthouse Plaza and Whiskey Row, the property offers residents exceptional walkability to downtown's restaurants, boutique retailers, entertainment venues, and year-round community events. Its distinctive architectural character and potential for targeted interior and exterior improvements provide investors with an opportunity to enhance the property's competitive positioning while preserving its historic appeal.
| Listing Id: | 7090790 |
|---|---|
| Property Type: | Multiple Dwelling |
| Status: | Active |
| City: | Prescott |
| Year Built: | 1905 |
| Appliances: | Refrigerator, Built-In Gas Oven |
| Bathrooms Total Integer: | 20 |
| State Or Province: | AZ |
| Zoning: | NA |
| Parcel Number: | 109-03-015 |
| Roof: | Composition |
| Insurance Expense: | $5,154 |
| Listing Terms: | Conventional, 1031 Exchange, Cash |
| Gross Income: | $340,848 |
| Tax Year: | 2026 |
| Number Of Buildings: | 2 |
| Net Operating Income: | $244,029 |
| Vacancy Allowance Rate: | 0.05 |
| Postal City: | Prescott |
| Covered Spaces: | 0.0 |
| Disclosures: | None |
| Road Surface Type: | Asphalt |
| Location Tax Legal Assessor's Parcel #3: | $15.00 |
| Location Tax Legal Tax Municipality3: | Prescott |
| Ownership: | Fee Simple |
| Efficiency Units # Efficiency Units: | 16 |
| Efficiency Units Avg Sq Ft5: | 290 |
| 1 Bedroom Units # 1 Bedroom Units: | 3 |
| 1 Bedroom Units Avg Sq Ft4: | 517 |
| 2 Bedroom Units # 2 Bedroom Units: | 1 |
| 2 Bedroom Units Avg Sq Ft3: | 1,200 |
| Basement Yn: | No |
| Gas: | Unisource |
| Environmental: | None |
| List Price: | $3,400,000 |
|---|---|
| Bedrooms Total: | 21 |
| Tax Annual Amount: | $3,982 |
| Waterfront?: | No |
| County Or Parish: | Yavapai |
| Postal Code: | 86303 |
| Number Of Units Total: | 20 |
| Cooling: | Electric |
| Heating?: | Yes |
| Cooling?: | Yes |
| Electric: | APS |
| Parking Features: | 1 Space/Unit |
| Heating: | Electric |
| Listing Contract Date: | 2026-10-06 |
| Water Source: | Master Meter |
| Sewer: | Public Sewer |
| Maintenance Expense: | $22,224 |
| Lot Size Dimensions: | 15,565 |
| Operating Expense: | $92,867 |
| Owner Pays: | Water, Sewer, Gas |
| Construction Materials: | Wood Frame, Stucco |
| Location Tax Legal Legal2Tax Legal Description: | LOTS 6 8 BLOCK 26 PRESCOTT BOOK 4 PAGE 22 |
| Gardener Expense: | $16,420 |
| Open Parking Spaces: | 20.0 |
| Financial Data Source: | Owner, Projected Proforma |
| Professional Management Expense: | $15,175 |
| Community Features: | No Pool |
| Electric Expense: | $18,412 |
| Gross Scheduled Income: | $358,787 |
| Other Expense: | $2,500 |
| Location Tax Legal Assessor's Map #3Tax Map Number: | $3.00 |
| Location Tax Legal Marketing Name2: | The Aspens on Montezuma |
| Income Expenses Annual Legal Acctg: | $4,000.00 |
| Income Expenses Owner Association: | No |
| Income Expenses Annual Rplcmnt Rsrvs: | $5,000.00 |
| Pmt Rate Info Equity: | $3,400,000.00 |
| Bathrooms Full: | 20 |
| Bathrooms Half: | 0 |
| Efficiency Units Avg Rent: | $1,246.00 |
| Efficiency Units # Baths: | 1 |
| 1 Bedroom Units Avg Rent2: | $1,609.00 |
| 1 Bedroom Units # Baths2: | 1 |
| 2 Bedroom Units Avg Rent3: | $1,925.00 |
| 2 Bedroom Units # Baths3: | 1 |
| Approval Status: | Yes |
| Tenant Pays: | Electricity |
| Const - Finish: | Stucco |
| Project Type: | 13 - 24 Units |
| Sale Includes: | Land & Building |
Listing Courtesy of: Marcus & Millichap
480-600-2626
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© 2026 Arizona Regional MLS.
Arizona Regional MLS data last updated on October 08, 2026 02:14 PM - MT.
Property Last Updated: October 08, 2026 02:14 PM - MT
