2502 N Main Street, Flagstaff, AZ 86004 (MLS# 204244)

To Show: Drive By/Don't Enter

Owner Pays: Sewer; Trash Collection; Water

Tenant Pays: Electricity; Gas

Potential Terms: Cash; Conventional; OMC 1st; OMC w/Balloon; Submit

Docs on File: Current P & L; Leases

Lot Street Imprvmnts: Paved Street; Street Parking

Utilities: City Water; Indiv. Metered; Natural Gas; Sewer

Heating: Central

Roof: Asphalt Shingle

Flood Zone: None

Fifty percent of the more than 5.5 million tourists that pass through Flagstaff annually indicate that this is their final destination and that they plan to stay an average of three days. Flagstaff is THE booming mountain city of the Southwest. In a recent SmartAsset article, Flagstaff was listed as one of the top 10 hottest second home markets in the nation (the only city listed that was not on the east coast). Flagstaff is a regional destination for rock climbers, mountain bikers, snowboarders, and cross country skiing as well. The Nordic Village sits in the Arizona foothills of the San Francisco Peaks approximately 30 minutes away from the property and offers a great day or weekend escape for regional visitors. There are more than 40 kilometers of trails through the Aspen and Ponderosa forests, all machine groomed for classic or skate skiing and 15 kilometers of marked snowshoe trails. The new owner of this investment property will have a prime opportunity to capitalize on Flagstaff's popularity with a mix of short-term or long-term rental opportunities. The location in the Sunnyside neighborhood continues to be one of the preferred areas in the city. It is less than three miles from the Northern Arizona University campus and the historic Downtown / San Francisco retail / restaurant corridor leading to Heritage Square in Downtown Flagstaff. In the summer, Heritage Square anchors the downtown area activities with family movie nights, musical events, art walks, and wine tasting strolls. This property is perfectly located at the crossroads to the beautiful Red Rock canyons of Sedona (30 miles south) and the Grand Canyon National Park (82 miles north). Flagstaff is historically a very supply-constrained market with very little availability. As a result, vacancy in the market is always very low and owners rarely sell. This is, therefore, a rare opportunity to buy a great multifamily property in a fantastic location.