Browse All Flagstaff AZ Multi-Family Properties for Sale

Discover a rare investment opportunity in the heart of Historic Downtown Flagstaff. The iconic circa 1906 Lindemann House occupies a high-profile corner lot and includes an expansive paved parking lot--an exceptional amenity in downtown Flagstaff. Rich in history, character, and income potential, this unique property offers flexibility for investors, business owners, or those seeking a mixed-use opportunity. The property features five residential units, including two 2-bedroom, 1-bath apartments, two 1-bedroom, 1-bath apartments, and one studio apartment. Currently operated with a combination of short- and long-term rentals, all units are transitioning to long-term rentals, providing stable income with additional upside potential. SELLER FINANCING is available to qualified Buyers, and the Seller prefers a Seller Financed sale. Flagstaff's desirable Community Commercial (CC) zoning allows for a wide variety of commercial and residential uses. Over the years, the property has successfully housed a retail running store, hair salon, attorney's office, engineering office, and residential apartments, creating exceptional flexibility for future ownership. The oversized paved parking lot provides abundant off-street parking--an increasingly valuable asset in Historic Downtown Flagstaff. Whether you continue its successful income-producing history, establish your own business, redevelop the site within zoning allowances, or create a unique live/work environment, the possibilities are extensive. This is a one-of-a-kind historic downtown property offering character, strong income potential, outstanding visibility, abundant parking, flexible zoning, and exceptional long-term investment value. Owner/Agent.

309 N Humphreys Street, Flagstaff

$970,000

6974381 MLS

Amazing location directly across from Coconino High School in the heart of Flagstaff. This fourplex features four 2-bedroom, 1-bath units with functional layouts, private entrances, and dedicated parking. Single-story construction with a metal roof and low maintenance, the outside of the building has been completely remodeled. All units are on month-to-month leases with current rents below market value and Stabilized at $1,700-$1,800 per unit, Area market rents range $1900 - $2100 creating a clear value-add opportunity through rent optimization and light improvements. Appliances convey. Minutes from downtown, shopping, dining, and transit. Rare in-town multifamily asset with strong demand and upside in a supply constrained Northern Arizona market.

2714 N Izabel Street, Flagstaff

$999,900

6 Beds ⋅ 70 Baths ⋅ 6939403 MLS

INVESTOR SPECIAL!! Two Single Family homes on one lot! Close to NAU, shopping, restaurants and downtown Flagstaff. Larger home built in 2007, smaller home in 1948. Larger home is 3 bdrm, 2.5 baths; smaller home is 3 bdrm, 1 bath. Larger home has in-floor heating throughout and gas fireplace. Smaller home is furnace. Neither units have central AC. Both homes have been well maintained, are close to NAU, and would make excellent rental properties for students or families for years to come. Both homes have in-home washer & dryer. Unit 1 has a completed upstairs attic, but needs some adjusting to make the entry way larger/accessible. It is closed off currently. Could unlock much bigger space for more rent.

903 W Clay Avenue, Flagstaff

$925,000

6856013 MLS

An exceptional opportunity in one of Flagstaff's most sought-after neighborhoods, just blocks from downtown! This unique property features two detached homes on one lot, combining historic charm with unmatched convenience. Perfect for investors, multi-generational living, or future redevelopment potential. This one-of-a-kind property includes a beautifully preserved single-level 3-bed/ 1-bath Craftsman bungalow, built in 1917! Rich with character, it showcases original woodwork and timeless architectural details that reflect its heritage. The spacious layout and welcoming ambiance make it a standout primary residence or income-producing rental. The second home is a 1-bed, 1-bath cottage with a unique backstory. Stories have been told that it once served as the spring house, with a well in the basement! With its rock wall construction and historical significance, it's said the street name was inspired by this very home, adding unique value and storybook charm. Both homes have a strong rental history and are located just a short distance to Flagstaff's beloved Sunday farmers market, local trails, and some of the city's best dining and coffee spots. The designated off-street parking for both properties is a life-saver during Winter months! Opportunities like this are rare, where historic charm, location, and versatility come together in the heart of Flagstaff. Owner carry options available. Foundation repair is scheduled for November 24-26.

203 & 205 S Spring Street, Flagstaff

$600,000

6853745 MLS

Centrally located multi-unit home near schools and amenities, offering immediate rental income and future flexibility! Live in one unit and rent the other, use it for multi-generational living, or rent both for a steady income. Current tenants in both units are on a month-to-month basis and interested in renewing their leases. This property features two 2-bed/1-bath units (1159 sf and 858 sf) both with reliable tenants, making it a prime investment opportunity. -Unit A is situated at the front of the property, with a welcoming patio and a spacious main living area. -Unit B is above an oversized two-car garage and includes a separate laundry room, along with views of Mount Elden. The 26x33 ft garage adds significant value and features existing plumbing with a downstairs water closet. Unit B interior has an attic space approximately 26x33 with access in the kitchen ceiling, offering potential for future expansion or conversion. A multi-generational living setup, or an investment property, this home offers a world of possibilities.

2313 N 1st Street, Flagstaff

$1,076,000

6774950 MLS

Adorable Downtown Multi-Unit Property - 4 Charming Units. Nestled in the heart of downtown, this adorable multi-unit property is full of old-world charm combined with modern updates. Featuring four units in total, this gem offers incredible versatility and investment potential. Two 2-bedroom, 1-bath units in the front carriage house. Spacious and perfect for tenants seeking comfortable living with historic character. Both have new kitchens and one is fully remodeled. Two studio units in the back house are cozy and efficient. Both with great outdoor space. Upstairs unit has vaulted ceilings with beautiful tongue & groove. Both homes are in great condition, with many updates including a new roof. There's plenty of parking available for all units, a rare find for a downtown location.

11 W Elm Avenue, Flagstaff

$1,110,000

6734541 MLS

OWNER MAY CARRY WITH SIGNIFICANT DOWN PAYMENT AT 6 PERCENT INTEREST. This is an investor's dream - a new duplex in the heart of east Flagstaff's booming 4th Street corridor! Forget maintenance and upkeep, this property is brand new with a 2 year builder's warranty and will save you expensive maintenance headaches for years to come. This beautiful property is located right in the middle of town, with convenient access to everything Flagstaff has to offer. Walking distance to dining and shopping. Don't miss this lucrative opportunity! Estimated completion: May 2026. Owner/Agent

1921 E Arrowhead Avenue, Flagstaff

$1,050,000

6734103 MLS

Discover a rare gem in the heart of Flagstaff with this meticulously maintained four-plex, proudly owned by the same owner since 1986. Boasting solid construction and exceptional potential, this property presents a once-in-a-lifetime opportunity for savvy investors looking to capitalize on its prime location and untapped value. Huge value add opportunity, close to NAU.

1603 N Center Street, Flagstaff

$775,000

6699676 MLS

Rare Opportunity for someone wanting to get into a SUCCESSFUL Investment OPPORTUNITY . Here is your chance to own 2 homes in one of Flagstaff's premier neighborhoods NOHO, live in one and STR the other to cover your mortgage. This exceptional property is unlike any other and features two distinct homes, one which includes a profitable STR. Both homes feature a low maintenance, modern architectural design with corrugated metal siding and roofs, hardie concrete board, accents of reclaimed barnwood and covered patios to enjoy the fresh mountain air. The 2 bedroom, 1.5 bath, 960 sqft home has a unique reverse layout which places the bedrooms on the main floor and the living spaces on the upper floor. As you enter the home you will fall in love with the concrete flooring and all the little details which include a Scandinavian built in desk, shoe rack and coat rack. A maple mahogany staircase ascends to the second level which showcases a luminous living area and kitchen complete with Birchwood flooring. The kitchen has concrete countertops, stainless steel appliances & stylish cabinets. Cathedral ceilings amplify the openness and natural light. The ADU(The Treehouse) above a 2-car garage provides flexible living arrangements. The Treehouse is open and bright and features cathedral ceilings and the same stylish and desirable amenities that the main home includes. Attention to detail is apparent throughout these homes and property. Both units are equipped with their own washer and dryer. This unique property would be ideal for owner occupants wanting to supplement their mortgage with rental income, investors and those looking for a multigenerational living situation. The ADU is currently a STR and grossed close to $40k in 2023. With close proximity to downtown Flagstaff activities, Buffalo Park and FMC; And you know what they say... LOCATION, LOCATION, LOCATION! This is a rare gem not to be missed!

24 W Oak Avenue Unit 7, Flagstaff

$555,000

6687904 MLS

LOCATION, LOCATION, LOCATION! TWO STAND ALONE HOMES on one Flagstaff Townsite Lot. Tucked into a quiet street located near NAU and downtown, the grocer, local coffee shops, and restaurants are all just a few blocks away. This property offers two remodeled homes that were fully updated since 2021 (walls, lights, floors, bathrooms, and appliances). The back house is 756 sqft and offers 2 bedrooms, one bath, laundry, and a back patio. The front house is 795 sqft and offers another 2 bedrooms, one bath, a new furnace in Dec 2022, and an enclosed backyard. Photos are from 2023. Currently Tenant Occupied. Check financing options, Multi-Family may be required.

417 W Tucson Avenue, Flagstaff

$599,999

6682956 MLS

This Flagstaff, AZ duplex features a brand new roof and each unit has its own garage and laundry hook up.Two identical units, each boasting 2 bedrooms and 1 bathroom. The layout offers ample living space with cozy bedrooms and a shared bath. The design incorporates modern amenities while maintaining a charming ambiance. Nestled in the picturesque surroundings of Flagstaff, residents can enjoy the stunning views and outdoor activities. With its convenient location and well-appointed interiors, this duplex provides comfortable living for those seeking a blend of comfort and functionality in the vibrant Flagstaff community.

3565 N Steves Boulevard, Flagstaff

$1,200,000

6620525 MLS

Don't miss the unique investment opportunity. Own this brand new duplex on West St. Two units with mirror-image floor plans. 3 bed, 2.5 bath, with a single car garage and additional paved parking. Estimated construction completion date is January 2024. Excellent location with highly functional floor plans to maximize rent potential. Local appraiser suggests the scheduled rents at $3500 per unit so is a great cash flow investment at a total of $7000 projected monthly rent collection. Tremendous location as it is A very short walk to Coconino High School and local shops/restaurants. Owner/Agent.

2101 N West Street, Flagstaff

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