121 N Willow Street, Prescott, AZ 86305

$745,000

Property Type: Multi-Family Square Footage: 3,600 Lot Size (sq. ft.): 12,197 Status: Closed

Current Price: $745,000 List Date: 1/15/2026 Last Modified: 2/26/2026

Overview

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.

Listing Details MLS# 1078795

ContractAddressLegal

Original List Price: 875000
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

General Property Description

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

Tax Info

Taxes: 1323
Tax Year: 2025

Status Change Info

Under Contract Date: 2026-02-06
Sold Date: 2026-02-26
Sold Price/SqFt: 207
Financing: Cash

Unit 1

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

Unit 2

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

More Information

Unit 3

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

Unit 4

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

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 Possession: At Recordation 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: February - 26 - 2026

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