Cascade Motel 805 White Spar Rd

Exceptional Opportunity to purchase this downtown Prescott apartment / motel complex plus an adjacent .23-acre vacant commercial parcel. The property is being offered for sale for $1,950,000. This wonderful lodging opportunity features 11 studio style guest rooms located within 3 separate and adjacent buildings which total 4,044 sf. Situated on two adjacent parcels totaling +/-.59 acres of BG zoned land, there are 11 on-site parking spaces located in front and on the side of the studio units as well as additional parking on the east side of the property. One of the units is a 1-bedroom suite that can be used for an on-site manager’s office/residence. The property also features a shared kitchen area, a storage room, and a new laundry room offering four new coin operated washers & dryers, a folding table, a coin change machine and a coin operated laundry accessories machine. All 11 studio units offer wi-fi, cable and include all utilities. Originally built in 1946, the Cascade Motel just completed a comprehensive interior and exterior renovation. All interior rooms have been completely renovated to include new doors and windows, mini-splits, digital door locks, vinyl plank flooring, new cabinets & countertops, sinks and showers, lighting and painting. The exterior building upgrades and renovations include the following: a new parking lot and concrete sidewalks in front of the units, new landscaping, outdoor patio space, exterior lighting, a security camera system, 6 new water heaters and fencing. This property is in excellent physical condition and is ready for immediate occupancy.
This property can be operated as an apartment complex or a motel offering daily/weekly/monthly rentals, a group home, or any other multi-family specialty use. This is a rare investment/owner operator opportunity in downtown Prescott.