121 N Willow Street, Prescott, AZ 86305

$875,000
Property Type: Multi-Family Square Footage: 3,600 Lot Size (sq. ft.): 12,197 Status: Active
Current Price: $875,000 List Date: 1/15/2026 Last Modified: 1/15/2026

Description

Here's your opportunity to own a piece of Prescott history! This charming 4-plex features lovely original details, wood floors, and the classic Prescott character buyers love. Ideally located close to downtown, this property offers excellent flexibility for investors—continue operating as long-term rentals, explore short-term rental potential (buyer to verify), or create a unique multi-generational living setup. The property is currently owner-managed and operating at an approximate 6.7% cap rate. Tenants are month-to-month and would like to remain, providing immediate income. With its prime location and multiple use options, this is a rare investment opportunity with strong upside.

More Information MLS# 1078795

Contract/Address/Legal

List Price/SqFt: 243 Rent/Lease: Yes Neighborhood: N/A REO/Short Sale: Not Applicable Zoning: MF-H Assessor's Book #: 113 Assessor's Map #: 11 Assessor's Parcel #: 81 Legal: MURPHYS 1ST SUB LOTS 4 AND 5 LESS THE EAST 30 FT THEREOF

General Property Description

Aprx Acres: 0.28 Lot #: 4 & 5 Lot Size: 12,197 Source of Measuremnt: County Assessor Stories: 2 Management: Owner Solar Y/N: No More than 5 Units: No Total Liveable SqFt: 3600 Year Built: 1914 NOI $: 58800 Cap %: 6.8 Baths - Full: 4

Tax Info

Taxes: 1323 Tax Year: 2025

Remarks & Misc

Directions: West on Gurley, Right on Garden, Left on Western. Left on Willow, Willow to Gurley is one way only and you cannot turn down Willow, you MUST go around the block. Can access from Norris or Ash also. Remarks: Here's your opportunity to own a piece of Prescott history! This charming 4-plex features lovely original details, wood floors, and the classic Prescott character buyers love. Ideally located close to downtown, this property offers excellent flexibility for investors—continue operating as long-term rentals, explore short-term rental potential (buyer to verify), or create a unique multi-generational living setup. The property is currently owner-managed and operating at an approximate 6.7% cap rate. Tenants are month-to-month and would like to remain, providing immediate income. With its prime location and multiple use options, this is a rare investment opportunity with strong upside.

Building Type

Fourplex: 1

Construction

Frame - Wood: 1

Cooling

Ceiling Fan(s): 1 Room Refrigeration: 1

External Amenities

Fence: 1 Patio/Deck/Balcony: 1

Flooring

Wood: 1 Other: 1

Heating

Natural Gas: 1 Wall Unit: 1

Owner Pays

Gas/Propane: 1 Sewer: 1 Trash: 1 Water: 1

Records Available

None: 1

Road Frontage Type

City Street: 1

Road Surface Type

Paved: 1

Road Responsibility

City Maintained Road: 1

Roof

Asphalt Shingle: 1

Terms & Conditions

1031 Exchange: 1 Conventional: 1 Other - See Remarks: 1

Utilities Installed

Electricity: 1 Individual Meter: 1 Natural Gas: 1 Water - City: 1 WWT - City Sewer: 1

Water Heater

Natural Gas: 1

Unit 1

Unit ID: 1 # BR: 2 # BA: 1 SqFt: 900 Tenant Utilities: electricity Rent $: 1100

Unit 1 Parking

Off Street: 1

Unit 1 Info

Ceiling Fan(s): 1 Fire/Smoke Detectors: 1 Porch/Patio: 1 Range/Oven: 1 Refrigerator: 1

Unit 2

Unit ID: 2 # BR: 2 # BA: 1 SqFt: 900 Tenant Utilities: electricity Rent $: 1200

Unit 2 Parking

Off Street: 1

Unit 2 Info

Ceiling Fan(s): 1 Fire/Smoke Detectors: 1 Porch/Patio: 1 Range/Oven: 1 Refrigerator: 1

Unit 3

Unit ID: 3 # BR: 2 # BA: 1 SqFt: 900 Tenant Utilities: electricity Rent $: 1400

Unit 3 Parking

Off Street: 1

Unit 3 Info

Ceiling Fan(s): 1 Fire/Smoke Detectors: 1 Porch/Patio: 1 Range/Oven: 1 Refrigerator: 1

Unit 4

Unit ID: 4 # BR: 3 # BA: 1.5 SqFt: 900 Tenant Utilities: electricity Rent $: 1200

Unit 4 Parking

Off Street: 1

Unit 4 Info

Ceiling Fan(s): 1 Porch/Patio: 1 Range/Oven: 1 Refrigerator: 1

ContractAddressLegal

Original List Price: 875000 Listing Date: 2026-01-15 Status: Active Listing Price: 875000 Street #: 121 Direction: N Street Name: Willow St Suffix: Street City/Township: Prescott State: AZ Zip Code: 86305 County: Yavapai Tax Parcel: 113-11-081

Property Features

Building Type: Fourplex Construction: Frame - Wood Cooling: Ceiling Fan(s); Room Refrigeration External Amenities: Fence; Patio/Deck/Balcony Flooring: Wood; Other Heating: Natural Gas; Wall Unit Owner Pays: Gas/Propane; Trash; Water Records Available: None Road Frontage Type: City Street Road Surface Type: Paved Road Responsibility: City Maintained Road Roof: Asphalt Shingle Utilities Installed: Electricity; Individual Meter; Natural Gas; Water - City; WWT - City Sewer Water Heater: Natural Gas Unit 1 Parking: Off Street Unit 1 Info: Ceiling Fan(s); Fire/Smoke Detectors; Porch/Patio; Range/Oven; Refrigerator Unit 2 Parking: Off Street Unit 2 Info: Ceiling Fan(s); Fire/Smoke Detectors; Porch/Patio; Range/Oven; Refrigerator Unit 3 Parking: Off Street Unit 3 Info: Ceiling Fan(s); Fire/Smoke Detectors; Porch/Patio; Range/Oven; Refrigerator Unit 4 Parking: Off Street Unit 4 Info: Ceiling Fan(s); Porch/Patio; Range/Oven; Refrigerator
Listing Office: eXp Realty
Last Updated: January - 15 - 2026
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