520 S Cortez Street, Prescott, AZ 86303

$1,250,000
Property Type: Multi-Family Square Footage: 5,609 Lot Size (sq. ft.): 22,651 Status: Active
Current Price: $1,250,000 List Date: 1/08/2026 Last Modified: 1/12/2026

Description

Exceptional Multi-Family Opportunity Near Downtown Prescott. Offered for the first time on the market, this rare four-plex is ideally located just moments from historic downtown Prescott, providing an outstanding opportunity for investors or owner-occupants alike. The property features four distinct floor plans constructed from 12 inch poured concrete walls, 4 inch thick concrete with steel web flooring girders. It includes a spacious owner's unit offering just over 1,600 square feet, perfect for comfortable on-site living while generating rental income from the remaining units with a beautiful covered temperature controlled Arizona room with west facing views. The four-plex presents an immediate income producing opportunity, with additional upside through light renovations and updates to further enhance value and long term returns, with a future elevator through a uniquely design shaft already on site. Situated on a triple lot, the property has exterior covered parking, paved road and alley access, a fenced in garden area, along with a motorhome pad with full hookups available. The property also offers significant future potential, as current zoning allows for the expansion of an additional multi-family building, making this a compelling value add or development play. With its prime proximity to downtown amenities, dining, and entertainment, and opportunities like this rarely coming available, this is a truly special Prescott investment property that blends location, income, and future growth potential.

More Information MLS# 1078584

Contract/Address/Legal

List Price/SqFt: 223 Rent/Lease: No Neighborhood: N/A REO/Short Sale: Not Applicable Zoning: MF-H Assessor's Book #: 109 Assessor's Map #: 14 Assessor's Parcel #: 44 Assessor Parcel Ltr: e Legal: PRESCOTT ORIGINAL TOWNSITE M&P 4/22,BLK 38 LOTS 9,11 & 13

General Property Description

Aprx Acres: 0.52 Lot #: 9 Lot Size: 22,651 Bedrooms Possible: 11 HOA Y/N: No Buildings: 1 Source of Measuremnt: County Assessor Stories: 2 Management: Owner Solar Y/N: No More than 5 Units: No Total Liveable SqFt: 5609 Year Built: 1996 Baths - Full: 4

Tax Info

Taxes: 2938 Tax Year: 2025 Builder Name: Unknown

Remarks & Misc

Directions: From Downtown Prescott Courthouse Square, South on Cortez to Home on Right. Remarks: Exceptional Multi-Family Opportunity Near Downtown Prescott. Offered for the first time on the market, this rare four-plex is ideally located just moments from historic downtown Prescott, providing an outstanding opportunity for investors or owner-occupants alike. The property features four distinct floor plans constructed from 12 inch poured concrete walls, 4 inch thick concrete with steel web flooring girders. It includes a spacious owner's unit offering just over 1,600 square feet, perfect for comfortable on-site living while generating rental income from the remaining units with a beautiful covered temperature controlled Arizona room with west facing views. The four-plex presents an immediate income producing opportunity, with additional upside through light renovations and updates to further enhance value and long term returns, with a future elevator through a uniquely design shaft already on site. Situated on a triple lot, the property has exterior covered parking, paved road and alley access, a fenced in garden area, along with a motorhome pad with full hookups available. The property also offers significant future potential, as current zoning allows for the expansion of an additional multi-family building, making this a compelling value add or development play. With its prime proximity to downtown amenities, dining, and entertainment, and opportunities like this rarely coming available, this is a truly special Prescott investment property that blends location, income, and future growth potential.

Office/Member Info

Listing Exclusions: No

Building Type

Fourplex: 1 Other - See Remarks: 1

Construction

Block: 1 Frame - Wood: 1 Stucco: 1 Other - See Remarks: 1

Cooling

Ceiling Fan(s): 1 Central Refriger: 1 Other: 1

External Amenities

Landscaped: 1 Patio/Deck/Balcony: 1 Other - See Remarks: 1

Flooring

Carpet: 1 Tile: 1

Heating

Heat Pump: 1 Natural Gas: 1

Owner Pays

None: 1

Records Available

None: 1

Road Frontage Type

City Street: 1

Road Surface Type

Asphalt: 1 Paved: 1

Road Responsibility

City Maintained Road: 1

Roof

Metal: 1

Showing Requirements

Vacant Go Show: 1

Terms & Conditions

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

Utilities Installed

Cable TV: 1 Electricity: 1 Individual Meter: 1 Natural Gas: 1 Telephone: 1 Water - City: 1 WWT - City Sewer: 1 Other - See Remarks: 1

Water Heater

Natural Gas: 1 Two or More: 1

Unit 1

Unit ID: A # BR: 2 # BA: 2.5 SqFt: 1709

Unit 1 Parking

2 Car: 1 Off Street: 1 Other - See Remarks: 1

Unit 1 Info

Ceiling Fan(s): 1 Den/Family Room: 1 Dishwasher: 1 Disposal: 1 Fire/Smoke Detectors: 1 Fireplace: 1 Laundry Room: 1 Microwave: 1 Porch/Patio: 1 Range/Oven: 1 Refrigerator: 1 Storage Room: 1 Storm Windows/Doors: 1 W/D Connection: 1 Other - See Remarks: 1

Unit 2

Unit ID: B # BR: 2 # BA: 1 SqFt: 1109

Unit 2 Parking

2 Car: 1 Off Street: 1 Other - See Remarks: 1

Unit 2 Info

Dishwasher: 1 Disposal: 1 Fire/Smoke Detectors: 1 Laundry Room: 1 Microwave: 1 Range/Oven: 1 Refrigerator: 1 W/D Connection: 1 Other - See Remarks: 1

Unit 3

Unit ID: C # BR: 2 # BA: 2 SqFt: 1395

Unit 3 Parking

2 Car: 1 Off Street: 1 Other - See Remarks: 1

Unit 3 Info

Den/Family Room: 1 Dishwasher: 1 Disposal: 1 Fire/Smoke Detectors: 1 Laundry Room: 1 Microwave: 1 Range/Oven: 1 Refrigerator: 1 W/D Connection: 1 Other - See Remarks: 1

Unit 4

Unit ID: D # BR: 2 # BA: 2 SqFt: 1395

Unit 4 Parking

2 Car: 1 Off Street: 1 Other - See Remarks: 1

Unit 4 Info

Den/Family Room: 1 Dishwasher: 1 Disposal: 1 Fire/Smoke Detectors: 1 Laundry Room: 1 Microwave: 1 Range/Oven: 1 Refrigerator: 1 W/D Connection: 1 Other - See Remarks: 1

ContractAddressLegal

Original List Price: 1250000 Listing Date: 2026-01-07 Status: Active Listing Price: 1250000 Street #: 520 Direction: S Street Name: Cortez St Suffix: Street City/Township: Prescott State: AZ Zip Code: 86303 Subdivision: Prescott Original Township County: Yavapai Tax Parcel: 109-14-044e

Property Features

Building Type: Fourplex; Other - See Remarks Construction: Block; Frame - Wood; Stucco; Other - See Remarks Cooling: Ceiling Fan(s); Central Refriger; Other External Amenities: Landscaped; Patio/Deck/Balcony; Other - See Remarks Flooring: Carpet; Tile Heating: Heat Pump; Natural Gas Owner Pays: None Records Available: None Road Frontage Type: City Street Road Surface Type: Asphalt; Paved Road Responsibility: City Maintained Road Roof: Metal Showing Requirements: Vacant Go Show Utilities Installed: Cable TV; Electricity; Individual Meter; Natural Gas; Telephone; Water - City; WWT - City Sewer; Other - See Remarks Water Heater: Natural Gas; Two or More Unit 1 Parking: 2 Car; Off Street; Other - See Remarks Unit 1 Info: Ceiling Fan(s); Den/Family Room; Dishwasher; Disposal; Fire/Smoke Detectors; Fireplace; Laundry Room; Microwave; Porch/Patio; Range/Oven; Refrigerator; Storage Room; Storm Windows/Doors; W/D Connection; Other - See Remarks Unit 2 Parking: 2 Car; Off Street; Other - See Remarks Unit 2 Info: Dishwasher; Disposal; Fire/Smoke Detectors; Laundry Room; Microwave; Range/Oven; Refrigerator; W/D Connection; Other - See Remarks Unit 3 Parking: 2 Car; Off Street; Other - See Remarks Unit 3 Info: Den/Family Room; Dishwasher; Disposal; Fire/Smoke Detectors; Laundry Room; Microwave; Range/Oven; Refrigerator; W/D Connection; Other - See Remarks Unit 4 Parking: 2 Car; Off Street; Other - See Remarks Unit 4 Info: Den/Family Room; Dishwasher; Disposal; Fire/Smoke Detectors; Laundry Room; Microwave; Range/Oven; Refrigerator; W/D Connection; Other - See Remarks
Listing Office: Better Homes And Gardens Real Estate Bloomtree Realty
Last Updated: January - 12 - 2026
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