$799,900
Phoenix, AZ 85017
MLS# 6982836
1 / 32
Property Description
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 Four at Pierson presents a remodeled (3 out of the 4 units are extensively 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...
Details
Maps
Contract Info
Ownership: Fee Simple
Current Price: $799,900
List Price: $799,900
Status: Active
List Date: 2026-02-11
Location, Tax & Legal
Assessor's Map #: 4
Legal Description (Abbrev): LOT 17 ALTRO TERRACE MCR 005235
Assessor's Parcel #: 17
Assessor Parcel Ltr: A
Add'l Parcels: No
Tax Municipality: Maricopa - COUNTY
Census Tract: 109001
Taxes: 2025
Legal: ALTRO TERRACE LOT 17 & W 2.50' OF LOT 18
Marketing Name: Four at Pierson
House Number: 2608
Compass: W
Street Name: PIERSON
St Suffix: Street
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85017
Zip4: 3681
County Code: Maricopa
Subdivision: ALTRO TERRACE
Assessor Number: 154-04-017-A
Tax Year: 1506
General Property Description
# of Buildings: 1
Uncvrd Parking Spcs: 4
Lot Size Dimensions: 62.45 X 131.27
Total # of Units: 4
Elementary School District: Alhambra Elementary District
High School District: Phoenix Union High School District
Year Built: 1961
Zoning: R-3
Legal Info
Range: 2E
Section: 24
Township: 2N
Lot Number: 17
Project Type
Tri-Plex: 1
Four Plex: 1
Construction
Block: 1
Const - Finish
Painted: 1
Roofing
Composition: 1
Floors
Vinyl: 1
Sale Includes
Land & Building: 1
Personal Property: 1
Income & Expenses
Annual Elec Exp: 868
Annual Gas Exp: 368
Annual Ins Exp: 3000
Annual Maint Exp: 2000
Annual Mgmt Exp: 4799
Annual Wtr/Swr Exp: 2522
Owner Association: No
Annual Ownr Asoc Fee: 0
Operating Exp: 15582
Other Income: 0
Vacancy Allowance: 0.05
Adjusted Gross Inc: 68559.6
Pmt & Rate Info
Cap Rate: 6.62
Equity: 799900
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0
Showing Notification Methods
Showing Service: No Showing Service Used
Lockbox Type
None: 1
Community Features
No Pool: 1
Heating
Electric: 1
Cooling
Central Air: 1
Heat Pump: 1
Tenant Pays
Electricity: 1
Other (See Remarks): 1
Appliances Included
Microwave: 1
Refrigerator: 1
Free-Standing Range: 1
Road Surface Type
Gravel: 1
Source of Fincl Data
Owner: 1
Projected Proforma: 1
Water Source
City Franchise: 1
Sewer
Sewer - Public: 1
Parking Features
On Street: 1
<1 Space Per Unit: 1
Electric
SRP: 1
Gas
SW Gas: 1
Owner Pays
Water: 1
Sewer: 1
Electric: 1
Trash Collection: 1
New Financing
Cash: 1
VA: 1
Conventional: 1
FHA: 1
Owner May Carry: 1
Wraparound: 1
Existing 1st Loan
Conventional: 1
Reports/Disclosures
None: 1
Environmental
None: 1
Efficiency Units
Avg Rent: 0
1 Bedroom Units
# 1 Bedroom Units: 4
Avg Rent: 1488
Avg SqFt: 575
# Baths: 1
2 Bedroom Units
Avg Rent: 0
3 Bedrooms Units
Avg Rent: 0
4 Bedrooms Units
Avg Rent: 0
Remarks Misc
Geo Lat: 33.507902
Geo Lon: -112.115228
Income Expenses
Gross Annual Sch Inc: 72168
Net Operating Income: 52977
Property Features
Project Type: Tri-Plex; Four Plex
Construction: Block
Const - Finish: Painted
Roofing: Composition
Floors: Vinyl
Sale Includes: Land & Building; Personal Property
Community Features: No Pool
Appliances Included: Free-Standing Range; Refrigerator; Microwave
Cooling: Heat Pump; Central Air
Water Source: City Franchise
Sewer: Sewer - Public
Electric: SRP
Gas: SW Gas
Parking Features: On Street; <1 Space Per Unit
Road Surface Type: Gravel
Owner Pays: Water; Electric; Trash Collection
Tenant Pays: Electricity; Other (See Remarks)
Source of Fincl Data: Owner; Projected Proforma
Lockbox Type: None
Existing 1st Loan: Conventional
New Financing: Cash; VA; FHA; Conventional; Owner May Carry; Wraparound
Environmental: None
Supplements
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:
(3 out of the 4 units are extensively 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.
Listing Office: Get Multifamily
Last Updated: February - 18 - 2026
Copyright 2026 Arizona Regional Multiple Listing Service, Inc. All rights reserved. Information Not Guaranteed and Must Be Confirmed by End User. Site contains live data.