827 Lincoln Avenue, Prescott, AZ 86301

$675,000
Property Type: Multi-Family Square Footage: 2,902 Lot Size (sq. ft.): 15,682 Status: Active
Current Price: $675,000 List Date: 3/12/2026 Last Modified: 4/06/2026

Description

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 net 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. Showings require a letter of intent and a minimum of 48 hours notice. 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.

More Information MLS# 1080196

Contract/Address/Legal

List Price/SqFt: 233 Rent/Lease: Yes Neighborhood: N/A REO/Short Sale: Not Applicable Zoning: MF-M Assessor's Book #: 113 Assessor's Map #: 5 Assessor's Parcel #: 64 Assessor Parcel Ltr: a Legal: PRESCOTT LYONS SUBD THE SOUTH 40 FT OF LOT 8 & THE S 75 FT OF LOT 6 & THAT PTN OF ABAND ALLEY LYING SOUTH OF AFOREMENTIONED LOTS 1 391 826

General Property Description

Aprx Acres: 0.36 Lot #: 8 HOA Y/N: No Buildings: 5 Source of Measuremnt: County Assessor Stories: 1 Management: Owner Solar Y/N: No Total Liveable SqFt: 2902 Year Built: 1954 Cap %: 6.5 Baths - Full: 4

Tax Info

Taxes: 1370 Tax Year: 2025

Remarks & Misc

Directions: From Downtown....Montezuma heading North to Whipple. Once road turns into Whipple, Turn Left on Lincoln to property on left. Remarks: 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 net 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. Showings require a letter of intent and a minimum of 48 hours notice. 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.

Building Type

Fourplex: 1

Construction

Frame - Wood: 1

Cooling

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

External Amenities

Fence: 1 Patio/Deck/Balcony: 1

Flooring

Carpet: 1 Tile: 1 Wood: 1

Heating

Electric: 1 Natural Gas: 1 Wall Unit: 1 See Remarks: 1

Owner Pays

Sewer: 1 Trash: 1 Water: 1

Records Available

None: 1

Road Frontage Type

City Street: 1

Road Surface Type

Paved: 1

Road Responsibility

City Maintained Road: 1

Roof

Asphalt Shingle: 1

Terms & Conditions

1031 Exchange: 1 Conventional: 1

Utilities Installed

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

Water Heater

Natural Gas: 1 Two or More: 1

Unit 1

Unit ID: 827 # BR: 2 # BA: 2 SqFt: 750 Tenant Utilities: elec & gas Rent $: 1125

Unit 1 Parking

3+ Car: 1 Off Street: 1

Unit 1 Info

Ceiling Fan(s): 1 Fire/Smoke Detectors: 1 Porch/Patio: 1 Range/Oven: 1 Refrigerator: 1

Unit 2

Unit ID: 829 # BR: 1 # BA: 1 SqFt: 512 Tenant Utilities: elec & gas Rent $: 1025

Unit 2 Parking

2 Car: 1 Off Street: 1

Unit 2 Info

Ceiling Fan(s): 1 Fire/Smoke Detectors: 1 Range/Oven: 1 Refrigerator: 1 W/D Connection: 1

Unit 3

Unit ID: 831 # BR: 1 # BA: 1 SqFt: 392 Tenant Utilities: elec & gas Rent $: 950

Unit 3 Parking

2 Car: 1 Off Street: 1

Unit 3 Info

Ceiling Fan(s): 1 Fire/Smoke Detectors: 1 Porch/Patio: 1 Range/Oven: 1 Refrigerator: 1

Unit 4

Unit ID: 833 # BR: 3 # BA: 2 SqFt: 1248 Tenant Utilities: elec & gas Rent $: 1600

Unit 4 Parking

3+ Car: 1 Off Street: 1

Unit 4 Info

Ceiling Fan(s): 1 Fire/Smoke Detectors: 1 Porch/Patio: 1 Range/Oven: 1

ContractAddressLegal

Original List Price: 699000 Listing Date: 2026-03-11 Status: Active Listing Price: 675000 Street #: 827 Street Name: Lincoln St Suffix: Avenue City/Township: Prescott State: AZ Zip Code: 86301 Subdivision: None County: Yavapai Tax Parcel: 113-05-064a

Property Features

Building Type: Fourplex Construction: Frame - Wood Cooling: Ceiling Fan(s); Central Refriger; Room Refrigeration; Other External Amenities: Fence; Patio/Deck/Balcony Flooring: Carpet; Tile; Wood Heating: Electric; Natural Gas; Wall Unit; See Remarks Owner Pays: Trash; Water Records Available: None Road Frontage Type: City Street Road Surface Type: Paved Road Responsibility: City Maintained Road Roof: Asphalt Shingle Utilities Installed: Cable TV; Electricity; Individual Meter; Natural Gas; Telephone; Water - City; WWT - City Sewer Water Heater: Natural Gas; Two or More Unit 1 Parking: 3+ Car; Off Street Unit 1 Info: Ceiling Fan(s); Fire/Smoke Detectors; Porch/Patio; Range/Oven; Refrigerator Unit 2 Parking: 2 Car; Off Street Unit 2 Info: Ceiling Fan(s); Fire/Smoke Detectors; Range/Oven; Refrigerator; W/D Connection Unit 3 Parking: 2 Car; Off Street Unit 3 Info: Ceiling Fan(s); Fire/Smoke Detectors; Porch/Patio; Range/Oven; Refrigerator Unit 4 Parking: 3+ Car; Off Street Unit 4 Info: Ceiling Fan(s); Fire/Smoke Detectors; Porch/Patio; Range/Oven
Listing Office: eXp Realty
Last Updated: April - 06 - 2026
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