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222 S Penn Avenue, Prescott, AZ 86303

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For Sale

$550,000

1,920 sqft

Estimated Payment

$      /mo. †

APR for 30 years

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  • Multi-Family (2-4 Units)
    Property type

  • $286.46
    Price per square foot

  • Over 50 Years Old
    Age

Explore this Property

Turnkey duplex active vacation rental with two 2 bedroom/1 bath apartments, less than 1 mile from Courthouse Plaza--the center of downtown Prescott! Each unit has 960sf of tastefully decorated, low maintenance living space.Recent improvements include new solid bamboo flooring in living room and bedrooms, new water heaters, new central air conditioning, upgraded electrical systems, improved access and parking pad (all 2020-2021); Pergo flooring in kitchens and stack washer/dryers in both units plus unit b furnace and refrigerator all approx. 8 years old; all furniture, accessories and sundries only 5 years old including Samsung smart tv's in living rooms and bedrooms. Easy access from front and rear of the property.This property has been successfully operating as a professionally managed vacation rental for the past 5 years.Gross income for 2024 $62,775, Net receipts $41,536 after management, cleaning, and maintenance/supply costs.Subtract utilities, property tax, insurance and maintenance/repairs/supplies (10,884) not included in the management fees yields an NOI of $30,652 (CAP rate 5.57%). 2025 YTD Net receipts after management, cleaning and maintenance/supply costs $29,569 yielding expected net receipts of 44,354, a 6% increase year over year.
MLS# 1075356

Courtesy Of Keller Williams Integrity First

(480) 854-2400

Property Features

  • Age
    Over 50 Years Old
  • Amenities
    Ceiling Fan
  • Architecture Style
    Other
  • Cooling System
    Ceiling Fan(s)
  • Exterior Type
    Block
  • Floor Covering
    Laminate, Tile, Wood
  • Lot Size
    0.19 Acres
  • Roof Type
    Asphalt

Map and Directions

Directions to 222 S Penn Avenue, Prescott, AZ 86303

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Monthly Payment Breakdown

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† Based on a 30-year fixed rate of 3.38% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.