Exceptional investment opportunity in the heart of downtown Prescott! The historic Cascade Motel, originally built in 1946, has undergone a comprehensive interior and exterior renovation in 2024/2025 and is now in excellent, turnkey condition. This 11-unit lodging property consists of three separate, adjacent buildings totaling approximately 3,733 SF, situated on +/-0.36 acres with BG (Business General) zoning. The unit mix includes ten fully renovated studio guest rooms and one 1-bedroom suite currently utilized as an on-site manager's office/residence. All units offer Wi-Fi, cable, and utilities included. Recent interior upgrades include new doors and windows, mini-split HVAC systems, digital door locks, vinyl plank flooring, updated cabinetry and countertops, new sinks and showers, modern lighting, and fresh paint throughout. Exterior improvements feature a new parking lot and concrete walkways, updated landscaping, outdoor patio space, enhanced exterior lighting, security camera system, six new water heaters, and new fencing. Additional amenities include a shared kitchen area, storage room, and a newly constructed laundry facility with four coin-operated washers and dryers, folding table, coin change machine, and laundry accessory vending machine. The property provides 11 on-site parking spaces plus additional parking at the southeast corner of the parcel. Flexible BG zoning allows for multiple operational options, including apartment rentals, daily/weekly/monthly lodging, group home, or other specialty multi-family uses (buyer to verify). A rare owner-operator or investment opportunity in a prime downtown location. Currently operated as mid-term rental (weekly to monthly) with solid occupancy. The CAP rate of 7.85% includes a 5% vacancy factor and 5% repair/reserve factor. Management in place that can transfer to new owner.

Listing courtesy of Travis R Bard of Keller Williams Arizona Realty travis@legacyren.com

Based on information submitted to the MLS GRID as of 2026-03-21 10:53 PM UTC. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.