Victorian 1924 Historic Home Repurposed To Tri-Plex Furnished Rental
305 N Mount Vernon Ave
Prescott, AZ 86301
Highlights
- - 2,203 sq. ft. building with 3 units professionally managed
- - Built in 1924, renovated in 2018 and 2022
- - All tastefully furnished with kitchenettes, updated bathrooms
- - City of Prescott BR Zoning allows residential and commercial uses
- - Located Near Downtown Prescott approximately 0.6 miles
- - Currently at 50% occupancy, Strong Upside potential
- - Management in Place for Absentee Ownership
- - Ideal Short Term or Long Term Furnished Rental Portfolio
- - Historic charm with modern updates
- - Strong potential for increased returns
Description
This historic Victorian styled home was built in 1924 is approximately a 2,203 sq. ft. building on a 7,405 sq. ft. lot. Zoned BR which allows Residental and Commercial Uses.
Most recently renovated in 2022. Separate entrances to each unit, 3 hvac and separate meters. Repurposed as 3 furnished short term residentail rental units which are professionally managed. Near Downtown Prescott District prime location. 2023 was the 1st full year in operation as a short term rental triplex generated over $80,000 gross income. Currently at 50% occupancy, there is significant potential for increased returns. With its historical charm and modern updates, this property presents an attractive and lucrative investment for those seeking to expand their rental portfolio.
Nestled in the picturesque city of Prescott, AZ, the location offers an ideal blend of natural beauty and urban convenience. Surrounded by stunning mountain landscapes and well-maintained parks, the area provides a serene and inviting setting for potential investors. Residents can enjoy the vibrant downtown district with its charming shops, delicious dining options, and cultural attractions. Nearby points of interest, including the charming Courthouse Square and the scenic Watson Lake, offer endless opportunities for relaxation and recreation. The area's inviting atmosphere and proximity to essential amenities make it an attractive choice for investors seeking a promising Multifamily / Single Family Rental Portfolio opportunity.
