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411 S Verde St 6,764 SF Specialty Building Offered at $3,750,000 at a 5.50% Cap Rate in Flagstaff, AZ 86001
Investment Highlights
- Fully redeveloped and expanded residential asset situated less than 0.25 miles from Northern Arizona University
- Long-term leases in place through July 2027, providing stable revenue
- Off-street and covered parking available for both structures
- Combination of a renovated duplex and new three-story building totaling 15 bedrooms and 15 bathrooms
- Projected NOI of $206,640 with a cap rate of 5.5%
- Modern interiors, updated systems, and high-quality finishes throughout
Executive Summary
Positioned less than a quarter mile from Northern Arizona University, this exceptional Flagstaff property combines thoughtful redevelopment with new construction to deliver a rare, income-generating asset. Sitting on a 0.24-acre parcel zoned for high-density residential, the offering includes a fully renovated duplex and a newly built three-story building, both leased through July 2027.
The south structure, originally built in 1950, was completely rebuilt in 2024 with modern systems and interiors, featuring two one-bedroom units with contemporary finishes, in-unit laundry, and air-conditioning. The north structure, completed in 2026, offers 13 bedrooms and 13 bathrooms across three levels, complemented by full kitchens, shared living areas, laundry rooms, and private decks. Covered and surface parking add convenience for tenants.
With proximity to Northern Arizona University, this property is positioned to meet the continued demand for student housing. The asset generates a pro forma NOI of approximately $206,640, equating to a strong 5.50% cap rate. This fully leased investment offers predictable income and long-term upside in one of Arizona’s most dynamic college markets.
The south structure, originally built in 1950, was completely rebuilt in 2024 with modern systems and interiors, featuring two one-bedroom units with contemporary finishes, in-unit laundry, and air-conditioning. The north structure, completed in 2026, offers 13 bedrooms and 13 bathrooms across three levels, complemented by full kitchens, shared living areas, laundry rooms, and private decks. Covered and surface parking add convenience for tenants.
With proximity to Northern Arizona University, this property is positioned to meet the continued demand for student housing. The asset generates a pro forma NOI of approximately $206,640, equating to a strong 5.50% cap rate. This fully leased investment offers predictable income and long-term upside in one of Arizona’s most dynamic college markets.
Property Facts
| Price | $3,750,000 | Building Class | B |
| Price Per SF | $554.41 | Lot Size | 0.24 AC |
| Sale Type | Investment | Building Size | 6,764 SF |
| Cap Rate | 5.50% | No. Stories | 2 |
| Property Type | Specialty | Year Built | 2026 |
| Property Subtype | Residential Income | Parking Ratio | 1.92/1,000 SF |
| Zoning | high-density residential | ||
| Price | $3,750,000 |
| Price Per SF | $554.41 |
| Sale Type | Investment |
| Cap Rate | 5.50% |
| Property Type | Specialty |
| Property Subtype | Residential Income |
| Building Class | B |
| Lot Size | 0.24 AC |
| Building Size | 6,764 SF |
| No. Stories | 2 |
| Year Built | 2026 |
| Parking Ratio | 1.92/1,000 SF |
| Zoning | high-density residential |
Amenities
- Air Conditioning
Fairly walkable
50/100
Exceptionally drivable
90/100
Some public transit
40/100
Very bikeable
80/100
Property Taxes
| Parcel Number | 103-14-016 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $29,492 |
Property Taxes
Parcel Number
103-14-016
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$29,492
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