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1 E Terrace Avenue 1&2, Flagstaff, AZ 86001

$1,200,000

Property Type: Multi-Family Square Footage: 2,470 Status: Active

Current Price: $1,200,000 List Date: 1/07/2026 Last Modified: 6/20/2026

Overview

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.

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 mu ... (Read more)

Listing Details MLS# 203002

Location, Tax & Legal

County: Coconino
Area: 140 - Pinecrest/Cherry Hill
Street #: Yes
Direction: E
Street Name: Terrace
Suffix: Avenue
City/Town Code: Flagstaff
State/Province: AZ
Zip Code: 86001
Region: 10 - North West City
APN: 10123024
Unit #: 1&2
Cross Street: Birch and Terrace
Legal Description: SUBDIVISION: RAILROAD ADD BLOCK: B PT LOTS13 14
Taxes: 4638
Tax Year: 2025

Contract Information

Public Marketing Date: 2026-01-05
List Price/SqFt: 485.82
Owner/Agent: No
Property Sub-Type: Multi Family
Transaction Type: Sale
Short Term Rental Allowed (Y/N): Yes

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
Appt Only/CLO: Yes

More Information

Remarks & Misc

Directions: Go East on Birch, Right on Terrace, Property is on the left

Inc/Exp (Annual)

Other: Did not fully utiliz

Exis Fee/Docs

Other: SPDS + Addendum 1-4

Leases

Weekly: Yes
Month To Month: Yes

Util incld in Rent

Electicity: Yes
Natural Gas: Yes
Sewer: Yes
Water: Yes

Potential Terms

Cash: Yes
Conventional: Yes

Exchange

Submit: Yes

Interior Amenities

Carpet/Tile: Yes
Dishwashers: Yes
Disposals: Yes
Duo-Pane Wind.: Yes
Laundry Area: Yes
Range/Ovens: Yes
Refrigerators: Yes
Shared Baths: Yes

Docs on File

Aerial Photo: Yes

Exterior Amenities

Deck/Belcony: Yes
Fenced: Yes
Garages: Yes
Landscaped: Yes
Priv Yards: Yes

Flood Zone

None: Yes

Lot Street Imprvmnts

Paved Parking: Yes

Utilities

City Water: Yes
Electricity Available: Yes
Natural Gas: Yes
Sewer: Yes

Heating

Natural Gas: Yes

Cooling

None: Yes

Management

Mgmt. Co.: Yes

Roof

Asphalt Shingle: Yes

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.

IDX

Listing Office: Realty One Group, Mountain Desert

Last Updated: June - 20 - 2026

1 E Terrace Avenue 1&2, Flagstaff, AZ 86001 (MLS# 203002)