$1,200,000
Flagstaff, AZ 86001
MLS# 203002
2470 sqft
1 / 57
Property Description
**CROSS LISTED UNDER RES.(203103)** Discover an exceptional income-producing opportunity at 1 E Terrace Ave, Units 1 & 2-Where versatility, comfort, and location come together in one remarkable property. Perfect for owner-occupants or investors, this rare duplex allows you to live in one spacious unit while generating income from the other. Both residences are thoughtfully designed with full kitchens, in-unit washer and dryer sets, and their own private 1-car garages—a true luxury in Flagstaff. Each unit also features its own private backyard, offering outdoor space that's ideal for relaxing, entertaining, or enjoying Flagstaff's four beautiful seasons. Located just seconds from downtown, you'll enjoy the convenience of city living while still being tucked into your own private setting.
Details
Maps
Contract Information
Status: Active
Listing Agreement Date: 2026-01-05
Current Price: $1,200,000
List Price: $1,200,000
List Price/SqFt: 485.83
Owner/Agent: No
Property Sub-Type: Multi Family
Transaction Type: Sale
Short Term Rental Allowed (Y/N): Yes
Location Tax Legal
County: Coconino
Area: 140 - Pinecrest/Cherry Hill
Street #: 1
Direction: E
Street Name: Terrace
Suffix: Avenue
City/Town Code: Flagstaff
State/Province: AZ
Zip Code: 86001
Geo Lat: 35.196118
Geo Lon: -111.642459
Key Words
Sale/Rent Description: For Sale
Net Op Inc: $0 - 4,999
Vacancy %: 0%
Cap Rate: 1 - 7.9%
Imprv Sz (Gross SF): 1,500 - 2,999
Land Size: 6,001 - 12,000 SF
# Units: 2
Down Payment: Submit
General Property Description
# of Units: 2
Year Built: 2003
Year Built Source: County
Lot Dimensions: 129.46x29.52x123.19x48.74
Currently Not Used
Approx SqFt: 2470
To Show
Other: Showing Time
Property Features
To Show: Appt Only/CLO
Leases: Weekly; Month To Month
Util incld in Rent: Electicity; Natural Gas; Sewer; Water
Potential Terms: Cash; Conventional
Exchange: Submit
Interior Amenities: Carpet/Tile; Dishwashers; Disposals; Duo-Pane Wind.; Laundry Area; Range/Ovens; Refrigerators; Shared Baths
Exterior Amenities: Deck/Belcony; Fenced; Garages; Landscaped; Priv Yards
Docs on File: Aerial Photo
Lot Street Imprvmnts: Paved Parking
Utilities: City Water; Electricity Available; Natural Gas; Sewer
Heating: Natural Gas
Cooling: None
Roof: Asphalt Shingle
Flood Zone: None
Management: Mgmt. Co.
Supplements
From the balcony, take in sweeping views overlooking Flagstaff's natural beauty, a daily reminder of why this area is so sought after.
Inside, each unit offers its own unique character. One features a newly added rock wall with a 3D fireplace, creating a stunning focal point and a warm, inviting atmosphere. The other showcases a custom Flagstaff mural wall, adding artistic charm and a sense of place that guests and tenants will love.
With ample parking, spacious interiors, and thoughtful upgrades, this property is perfectly positioned for long-term rental, short-term rental, or multigenerational living. Whether you're looking to offset your mortgage or expand your investment portfolio, 1 E Terrace Ave delivers flexibility and financial potential without compromising comfort or style.
A rare find in an unbeatable location, schedule a tour today!
Listing Office: Realty One Group, Mountain Desert
Last Updated: February - 04 - 2026
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