Home Details for 827 LINCOLN Avenue

An exceptional opportunity in Prescott offering four separate homes on one parcel, creating flexibility for investors, multi-generational living, or those seeking a private family compound close to downtown. Each residence has its own address, fenced yard, and dedicated parking, providing privacy and independence while still sharing a single property. The layout allows an owner to live in one home while renting the others for potential income, or create a unique multi-generational retreat where everyone enjoys their own private space. The property may also offer vacation rental potential and the possibility of adding another unit (buyer to verify with the City). Located less than one mile from historic downtown Prescott and Whiskey Row, the property provides easy access to restaurants, shopping, entertainment, and local events while maintaining the charm and character that define old Prescott. All units are fully rented with excellent tenants on month-to-month leases, offering flexibility for a new owner. The property has a strong rental history, and residents would like to remain. All tenants have expressed interest in staying and are willing to sign one-year leases during the inspection period. Each home has its own address, adding convenience and flexibility for tenants. For investors, the seller reports a operating income of $45,530 after expenses, representing approximately a 6.5% cap rate. Seller currently pays HO insurance, flood insurance (less than $2,000 annually), and water, sewer, and trash. An extensive remodel completed in January 2018 included new windows, siding, interior and exterior paint, flooring, updated kitchens and bathrooms, and numerous additional improvements. Two homes have newer roofs. Units 829 and 831 feature HVAC mini-split systems, and Unit 829 includes a tankless water heater. Please note that all units are currently occupied. In order to see the property, a letter of intent and a minimum of 48 hours notice is required. The sellers also have another nearby property available and may consider a discount for buyers purchasing both. Please inquire about the additional listing at 737 Dameron.

• Cooling Information

  • Ceiling Fan(s)
  • Other
  • Wall/Window Unit(s)

• Heating Information

  • See Remarks
  • Electric
  • Natural Gas

• Parking

  • Off Street
  • Other

• Water Features

  • Public