1409 Paar Drive

Description

Miller Creek Cove is unique multi-family property comprised of 4 free- standing, single-family homes along with two spaces for RV hookup. This ''village like'' setting is ideally suited for VRBO operation but can also run as a long-term stay multi-family complex or a personal residence. The property is situated on 1.29 acres, zoned SF-9 and offers street frontage and access along Paar Dr. which is only a few blocks from the Fry's grocery store on Miller Valley Rd and 5 minutes from downtown Prescott. These 4 ''cottages'' are nestled against majestic granite boulders and features a seasonal, treelined creek called Miller Creek that runs through the property. All 4 homes overlook both Miller Creek and a large open field of wild green grass. This vacant property is located on the other CLICKMiller Creek Cove is unique multi-family property comprised of 4 free- standing, single-family homes along with two spaces for RV hookup. This "village like" setting is ideally suited for VRBO operation but can also run as a long-term stay multi-family complex or a personal residence. The property is situated on 1.29 acres, zoned SF-9 and offers street frontage and access along Paar Dr. which is only a few blocks from the Fry's grocery store on Miller Valley Rd and 5 minutes from downtown Prescott. These 4 "cottages" are nestled against majestic granite boulders and features a seasonal, treelined creek called Miller Creek that runs through the property. All 4 homes overlook both Miller Creek and a large open field of wild green grass. This vacant property is located on the other side of the creek and could be developed into additional units in the future. Each home has been remodeled and offers a distinct and individualized personality in both form and function. Two of these homes were originally constructed in 1928, the 3rd in 1952 and the newest in 1995. All have undergone various renovations, upgrades, and modernization in the recent past. All 4 homes include a full kitchen with refrigerator, microwave, cooktop, a kitchen sink. Heating, washers & dryers are electric. Each home ranges in size from approx. 554 sf to 916 sf. Three homes include 1 bedroom 1 bath and one home is a 2-bedroom 1 bath. All utilities are internet and cable TV are included with the rent. The property was recently purchased by an investor who has completed remolded the 2-bedroom home and plans on placing all 4 homes on VRBO. This turnkey property is being offered For Sale at $850,000 which is $212,000/unit and a 8.6% proforma in Cap Rate.