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2608 W Pierson St 4 Unit Apartment Building $799,995 ($199,999/Unit) 6.53% Cap Rate Phoenix, AZ 85017
Executive Summary
Four at Pierson | W Pierson Street | Phoenix, AZ 85017 Positioned in a high-demand rental corridor just minutes from Grand Canyon
University, major parks, and immediate freeway access, Four at Pierson presents a fully remodeled converted fourplex investment opportunity in the heart
of Phoenix. This thoughtfully upgraded property consists of four (4) one-bedroom, one-bathroom units, each extensively renovated with updated flooring,
modernized kitchens, and refreshed bathrooms. The improvements provide strong tenant appeal while minimizing near-term capital expenditure. All units
are currently leased through Home Inc, with rental income ranging from $1,467 to $1,590 per unit, offering stabilized cash flow in a prime university adjacent
location.
Recent capital improvements include the full replacement of existing sewer lines, providing a significant infrastructure upgrade and reducing future deferred maintenance risk.
Investment Highlights:
Fully remodeled fourplex
Four 1BR / 1BA units
Strong in-place rents: $1,467-$1,590 per unit
Sewer lines recently replaced
Prime proximity to GCU, parks, retail, and major freeways
Professionally managed (Home Inc)
Seller Financing Opportunity:
Seller is willing to carry $50,000 down and will structure an exact wrap of the existing note at 7.25% interest rate, creating a compelling financing option for qualified buyers.
All facts and figures are approximate. Buyer to verify all MLS information and conduct independent due diligence.
University, major parks, and immediate freeway access, Four at Pierson presents a fully remodeled converted fourplex investment opportunity in the heart
of Phoenix. This thoughtfully upgraded property consists of four (4) one-bedroom, one-bathroom units, each extensively renovated with updated flooring,
modernized kitchens, and refreshed bathrooms. The improvements provide strong tenant appeal while minimizing near-term capital expenditure. All units
are currently leased through Home Inc, with rental income ranging from $1,467 to $1,590 per unit, offering stabilized cash flow in a prime university adjacent
location.
Recent capital improvements include the full replacement of existing sewer lines, providing a significant infrastructure upgrade and reducing future deferred maintenance risk.
Investment Highlights:
Fully remodeled fourplex
Four 1BR / 1BA units
Strong in-place rents: $1,467-$1,590 per unit
Sewer lines recently replaced
Prime proximity to GCU, parks, retail, and major freeways
Professionally managed (Home Inc)
Seller Financing Opportunity:
Seller is willing to carry $50,000 down and will structure an exact wrap of the existing note at 7.25% interest rate, creating a compelling financing option for qualified buyers.
All facts and figures are approximate. Buyer to verify all MLS information and conduct independent due diligence.
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$71,424
|
$29.70
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$3,571
|
$1.48
|
| Effective Gross Income |
$67,853
|
$28.21
|
| Taxes |
$2,025
|
$0.84
|
| Operating Expenses |
$13,557
|
$5.64
|
| Total Expenses |
$15,582
|
$6.48
|
| Net Operating Income |
$52,271
|
$21.73
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $71,424 |
| Annual Per SF | $29.70 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $3,571 |
| Annual Per SF | $1.48 |
| Effective Gross Income | |
|---|---|
| Annual | $67,853 |
| Annual Per SF | $28.21 |
| Taxes | |
|---|---|
| Annual | $2,025 |
| Annual Per SF | $0.84 |
| Operating Expenses | |
|---|---|
| Annual | $13,557 |
| Annual Per SF | $5.64 |
| Total Expenses | |
|---|---|
| Annual | $15,582 |
| Annual Per SF | $6.48 |
| Net Operating Income | |
|---|---|
| Annual | $52,271 |
| Annual Per SF | $21.73 |
Property Facts
| Price | $799,995 | Building Class | C |
| Price Per Unit | $199,999 | Lot Size | 0.19 AC |
| Sale Type | Investment | Building Size | 2,405 SF |
| Cap Rate | 6.53% | Average Occupancy | 100% |
| No. Units | 4 | No. Stories | 1 |
| Property Type | Multifamily | Year Built/Renovated | 1961/2019 |
| Property Subtype | Apartment | Parking Ratio | 3.33/1,000 SF |
| Apartment Style | Garden | ||
| Zoning | M-M | ||
| Price | $799,995 |
| Price Per Unit | $199,999 |
| Sale Type | Investment |
| Cap Rate | 6.53% |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.19 AC |
| Building Size | 2,405 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built/Renovated | 1961/2019 |
| Parking Ratio | 3.33/1,000 SF |
| Zoning | M-M |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 4 | $1,488 | 575 |
1 1
Walk Score®
Very Walkable (70)
Property Taxes
| Parcel Number | 154-04-017A | Total Assessment | $9,523 |
| Land Assessment | $0 | Annual Taxes | $2,025 ($0.84/SF) |
| Improvements Assessment | $0 | Tax Year | 2025 |
Property Taxes
Parcel Number
154-04-017A
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$9,523
Annual Taxes
$2,025 ($0.84/SF)
Tax Year
2025
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2608 W Pierson St
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