320 S Cortez Street, Prescott, AZ 86303 (MLS# 1082558)

Prime investment opportunity in the heart of Downtown Prescott. The Pillars, located at 320 S. Cortez Street, is a historic 17-unit multifamily property featuring 7 studio and 10 one-bedroom apartments in a highly desirable, walkable location near Courthouse Square, shopping, dining, entertainment and local events. The approximately 10,000 SF brick-and-concrete building sits on 0.34 acres and offers historic architectural character, with select units featuring original hardwood flooring. Several units have been updated, providing additional opportunity to renovate remaining units and enhance rental income. Property amenities include on-site coin-operated laundry, gated lower-level access, and private parking. Some units offer city and mountain views. The desirable unit mix established rental history and prime downtown location make this a compelling opportunity for investors seeking a well-positioned multifamily asset with value-add potential. 17 Units | 7 Studios | 10 One-Bedrooms | Approx. 10,000 SF | 0.34 Acres For additional information or to schedule a private showing, contact Michael Aldridge at 602-762-4830. This exceptional opportunity won't last long. Historical significance of the Pillars is outlined in the More... section. Title is being held open see private remarks.

Supplements: The Pillars Apartments, Historical significance. Research confirms The Pillars apartment building at 320 S. Cortez St. was constructed in 1919 and is located within the historic downtown area of Prescott, Arizona. While it is not individually listed as a National Register Historic District property, its age and location make it a contributing element to the city's broader historical character. The building's significance is primarily as an early-20th-century residential structure in the original township of Prescott. Early 20th-century construction " Built in 1919, the building represents an early period of multi-family housing development in Prescott, following the city's incorporation in 1864. " The property's age and use illustrate the city's growth and development beyond its initial territorial-era structures and residences, a period defined by mining and political activity. Contribution to Prescott's historic fabric " The building's location on S. Cortez Street places it within the historically significant downtown area, close to landmarks like the Yavapai County Courthouse Plaza and the surrounding commercial district. This area is known for its well-preserved early 20th-century architecture. " The presence of multi-family residences like The Pillars in the downtown area reflects the mixed-use nature of early American cities, where residential, commercial, and government buildings coexisted in close proximity. " The building's original hardwood floors and classic architectural features, mentioned in property records, are characteristic of its era and provide a tangible link to Prescott's architectural history. Context within Prescott's historic preservation efforts " The City of Prescott has an active Historic Preservation program, overseen by a commission, to protect its historic resources. " While The Pillars may not have a specific individual designation, it is situated in a neighborhood that has been historically valued for its character. The example is the nearby Fleury's Addition, which is recognized for its middle-class architecture from the early 1900s. The Pillars fits within this general context of early 20th-century urban residential development. Ultimately, The Pillars is historically significant for being a surviving example of early 20th-century downtown residential architecture in Prescott, contributing to the overall historic character of the original township.