1409 PAAR Drive, Prescott, AZ 86305
$1,075,000
Property Type:
Multiple Dwellings
Status:
Closed
Current Price:
$1,075,000
Last Modified:
5/16/2025
Description
Income Producer, take advantage of the additional parcel to Boost revenue! A Perfect property to implement the short term rental (Vacation Rental) strategy and/or add units to dramatically increase the revenue. Improvements to all 4 units made between 7/2021 - 12/2021. Please see details per seller in docs tab. Property Improvements - Per seller in docs tab Parcel 2: see attachment in docs tab. MULTIPLE OFFERS RECEIVED, ALL OFFERS REVIEWED & RESPONDED TO 5/7/22. ENTRY UPON CONTRACT ACCEPTANCE. Submit offers to: Michael@pacwestlending.com. CASH OFFERS: must provide proof of funds to close. FINANCED OFFERS: provide Loan approval & funds to close.
More Information MLS# 6391594
Contract Info
Current Price: $1,075,000
Sold Price: $1,075,000
Status: Closed
List Date: 2022-04-15
Ownership: Fee Simple
Location Tax Legal
Map Code/Grid: C82
House Number: 1409
Street Name: PAAR
St Suffix: Drive
City/Town Code: Prescott
State/Province: AZ
Zip Code: 86305
Zip4: 2359
Country: US
County Code: Yavapai
Subdivision: LINCOLN PARK
Assessor Number: 111-09-072-E
Tax Year: 2021
General Property Description
Lot Size Dimensions: 1.29 acres
Year Built: 1940
Uncvrd Parking Spcs: 15
Total # of Units: 4
# of Buildings: 4
Zoning: (0310) MIXED CO
Flood Zone: TBD
Remarks Misc
Cross Street: Gail Gardner Highway & Paar Drive
Directions: From Downtown Prescott: Head west on E Gurley St toward N Cortez St1.3 miTurn right onto Gail Gardner Way 0.4 mi Turn left onto Paar Dr Destination will be on the left.
Geo Lat: 34.548225
Geo Lon: -112.491364
Status Change Info
Status Change Date: 2022-06-03
Off Market Date: 2022-05-27
Under Contract Date: 2022-05-02
Close of Escrow Date: 2022-06-02
Sold Price: $1,075,000
Legal Info
Township: 14N
Range: 2W
Section: 32
Lot Number: 9
Income Expenses
Gross Annual Sch Inc: 79500
Net Operating Income: 49701.47
1 Bedroom Units
# 1 Bedroom Units: 3
Avg Rent: 1533.33
Avg SqFt: 68266
# Baths: 1
2 Bedroom Units
# 2 Bedroom Units: 1
Avg Rent: 1875
Avg SqFt: 776
# Baths: 1
Sold Info
Loan Type: Other
Loan Years: 30
Payment Type: Other
Closing Cost Split: Normal - N
Buyer Concession $/%: $
Seller Concession $/%: $
Property Features
Project Type: Four Plex
Other Type: House + Rental Units
Construction: Wood Frame
Const - Finish: Painted; Stucco; Siding
Roofing: Composition
Floors: Vinyl; Wood; Ceramic Tile; Carpet
Sale Includes: Land & Building
Community Features: No Pool; See Remarks
Exterior Amenities: Other (See Remarks)
Interior Amenities: Other (See Remarks)
Appliances Included: Other
Heating: See Remarks
Cooling: See Remarks
Water Source: City Franchise
Sewer: Sewer - Public
Electric: APS; City Electric
Gas: SW Gas; Propane Bottled
Parking Features: Other
Owner Pays: Water
Tenant Pays: Electricity; Gas; Cable TV
Source of Fincl Data: Owner
Existing 1st Loan: Treat as Free&Clear
Existing 1st Ln Trms: Not Applicable
Existing 2nd Loan: Treat as Free&Clear
Existing 2nd Ln Type: Not Applicable
Existing 2nd Ln Trms: Not Applicable
Existing 3rd Loan: Treat as Free&Clear
Existing 3rd Ln Type: Not Applicable
Existing 3rd Ln Trms: Not Applicable
Existing Othr Ln Trm: Not Applicable
New Financing: VA; Conventional; 1031 Exchange; Affordable Housing
Environmental: None
Listing Office: DeLex Realty
Last Updated: May - 16 - 2025
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