320 S Cortez Street, Prescott, AZ 86303

$3,286,000
Property Type: Multi-Family Square Footage: 8,143 Lot Size (sq. ft.): 14,810 Status: Active
Current Price: $3,286,000 List Date: 6/04/2026 Last Modified: 8/23/2026

Overview

Description

Prime investment opportunity in the heart of Downtown Prescott. The Pillars, located at 320 S. Cortez Street, is a historic 17-unit multifamily property featuring 7 studio and 10 one-bedroom apartments in a highly desirable, walkable location near Courthouse Square, shopping, dining, entertainment and local events. The approximately 10,000 SF brick-and-concrete building sits on 0.34 acres and offers historic architectural character, with select units featuring original hardwood flooring. Several units have been updated, providing additional opportunity to renovate remaining units and enhance rental income. Property amenities include on-site coin-operated laundry, gated lower-level access, and private parking. Some units offer city and mountain views. The desirable unit mix established rental history and prime downtown location make this a compelling opportunity for investors seeking a well-positioned multifamily asset with value-add potential. 17 Units | 7 Studios | 10 One-Bedrooms ...

Supplements: The Pillars Apartments, Historical significance. Research confirms The Pillars apartment building at 320 S. Cortez St. was constructed in 1919 and is located within the historic downtown area of Prescott, Arizona. While it is not individually listed as a National Register Historic District property, its age and location make it a contributing elem ...

Listing Details MLS# 1082558

ContractAddressLegal

Original List Price
3286000
Listing Price
3286000
Street #
320
Direction
S
Street Name
Cortez
St Suffix
Street
City/Township
Prescott
State
AZ
Zip Code
86303
Subdivision
Prescott Original Township
County
Yavapai
Tax Parcel
109-03-016c

General Property Description

Lot #
7
Bedrooms Possible
17
Aprx Acres
0.34
Total Liveable SqFt
8143
Source of Measuremnt
County Assessor
Buildings
Yes
Year Built
1942
Management
Mgmt Company
Gross Vol/Yr $
254579
NOI $
182003
Vac Rate %
5
Cap %
5.54
HOA Y/N
No
Solar Y/N
No
Baths - Full
17
More than 5 Units
Yes

Tax Info

Taxes
2950
Tax Year
2025

Unit 1

# BR
17
# BA
17

More Information

Property Features

Building Type: 5+ Units Construction: Brick Cooling: Ceiling Fan(s) External Amenities: Laundry Facilities Flooring: Laminate; Tile; Vinyl; Wood Heating: Baseboard; Electric Owner Pays: Electric; Gas/Propane; Sewer; Trash; Water Records Available: None Road Frontage Type: City Street Road Surface Type: Alley Paved; Asphalt; Paved Road Responsibility: City Maintained Road Roof: Asphalt Shingle Utilities Installed: 220; Cable TV; Electricity; Natural Gas; Telephone; Water - City Water Heater: Central Boiler; Electric; Natural Gas
Listing Office: Delex Realty
Last Updated: August - 23 - 2026
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