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Prescott View Apartments 3161 Willow Creek Rd

72 Unit Apartment Building $27,990,330 CAD ($388,755 CAD/Unit) Prescott, AZ 86301

Investment Highlights

  • 72 Total Units, Completed in 1988
  • Extensively Renovated Exterior, Interiors, & Common Areas (~$2.15M or $30,000 per Unit in Capital Expenditures)
  • Individually Metered for Electricity, Gas, & Individual Hot Water Heaters
  • Mix of One (50%) & Two-Bedroom (50%) Unit Types (~615 & 821 SF Respectively)
  • 96% of Units (69 of 72) Upgraded With New Appliance Packages, Flooring, & Hard Surface Quartz Countertops
  • Offered All Cash / New Loan

Executive Summary

Prescott View Apartments is a 72-unit, garden-style apartment community located in Prescott, AZ. A multitude of neighborhood conveniences and services are located within walking, biking, or a short drive from the property which includes a newly constructed retail center adjacent to the parcel which features a Dutch Bros Coffee, CVS Pharmacy, Dairy Queen, and Desert Financial Credit Union. Furthermore, on the opposite side of Willow Creek Road, residents have access to Fry’s Food and Drug, Anytime Fitness, Wells Fargo Bank, and Method Coffee.
The property is ideally located in close proximity to a variety of both recreational activities and significant Prescott economic drivers. Willow Lake, a scenic 400-acre reservoir within a five-minute drive to the northeast of the property, provides access to a host of outdoor activities such as boating, fishing, kayaking, and hiking. Willow Lake Loop Trail, a 5.5-mile multi-use trail surrounds the lake and features signature views of the Granite Dells of Prescott. Additionally, the Embry-Riddle Aeronautical University is located within a five-minute drive to the northeast and offers over 25 degrees in both bachelor’s and master’s levels focusing on aeronautical science, business, and technology. Enrollment numbers in the Prescott campus reports over 3,000 students as of the fall 2024 semester, with students leveraging the nearby Prescott Regional Airport as a primary training facility.
Completed in 1988, the Prescott View Apartments is constructed of wood frame with pitched shingle roofing. The property features an attractive unit mix which consists of 36 one-bedroom / one-bathroom units and 36 two-bedroom / one bathroom units with a weighted average of 718 SF. Each unit is individually metered for electricity and gas and features individual hot water heaters along with an outdoor decked balcony with storage. Central heating is provided by gas to each apartment, along with the majority of units having window mounted air conditioner units. Unit interiors feature balcony / patio, fireplaces, ceiling fans, as well as fully equipped kitchens with refrigerator, oven / stove, and garbage disposal. 96% or 69 of 72 units have undergone extensive interior renovations and feature upgraded stainless steel appliance packages, updated flooring, and hard surface quartz countertops. The community also provides its residents with a dedicated leasing office, two dedicated electric vehicle charging parking spaces, fitness center, large enclosed dog park with gazebo, picnic area, and laundry facility consisting entirely of washer / dryer appliances under property ownership.
Significant employers in proximity to the property include the Prescott Regional Airport, Sturm Ruger Company, Embry-Riddle Aeronautical University, and Dignity Health Yavapai Regional Medical Center.

Financial Summary (Pro forma - 2025) Click Here to Access

Annual (CAD) Annual Per SF (CAD)
Gross Rental Income - -
Other Income - -
Vacancy Loss - -
Effective Gross Income $99,999 $9.99
Taxes - -
Operating Expenses - -
Total Expenses $99,999 $9.99
Net Operating Income $99,999 $9.99

Financial Summary (Pro forma - 2025) Click Here to Access

Gross Rental Income (CAD)
Annual -
Annual Per SF -
Other Income (CAD)
Annual -
Annual Per SF -
Vacancy Loss (CAD)
Annual -
Annual Per SF -
Effective Gross Income (CAD)
Annual $99,999
Annual Per SF $9.99
Taxes (CAD)
Annual -
Annual Per SF -
Operating Expenses (CAD)
Annual -
Annual Per SF -
Total Expenses (CAD)
Annual $99,999
Annual Per SF $9.99
Net Operating Income (CAD)
Annual $99,999
Annual Per SF $9.99

Property Facts

Price $27,990,330 CAD
Price Per Unit $388,755 CAD
Sale Type Investment
No. Units 72
Property Type Multifamily
Property Subtype Apartment
Apartment Style Low Rise
Building Class B
Lot Size 3.47 AC
Building Size 51,696 SF
No. Stories 2
Year Built 1988

Unit Amenities

  • Balcony
  • Cable Ready
  • Dishwasher
  • Fireplace
  • Storage Space
  • Heating
  • Kitchen
  • Refrigerator
  • Range
  • Tub/Shower
  • Dining Room
  • Patio

Site Amenities

  • 24 Hour Access
  • Controlled Access
  • Clubhouse
  • Laundry Facilities
  • Gameroom

Unit Mix Information

Description No. Units Avg. Rent/Mo SF
1+1 36 - 615
2+1 36 - 821

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
106-20-003G
Land Assessment
$0 CAD (2024)
Improvements Assessment
$0 CAD (2024)
Total Assessment
$1,027,375 CAD (2024)

zoning

Zoning Code MF-M
MF-M
  • Listing ID: 33675463

  • Date on Market: 2024-10-29

  • Last Updated:

  • Address: 3161 Willow Creek Rd, Prescott, AZ 86301

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