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.