1509 W Pierce St Phoenix, AZ 85007
Central City NeighborhoodEstimated payment $4,394/month
Highlights
- Cooling Available
- Ceramic Tile Flooring
- Ceiling Fan
- Phoenix Coding Academy Rated A
- Central Heating
About This Home
4-Plex investment opportunity in the heart of the Oakland Historic District of Downtown Phoenix. Property consists of two 2 story buildings set to the back of the property with parking lot right off the street. All 4 units are identical 2 bed, 1 bath, 642 sq ft with washer and dryer's. 1 of the 4 units just went through a full renovation in 2023. All units have sub metered water and is billed back to tenants. Only expense is city sewer and trash. Grand Ave corridor has many local shops, restaurants, cafes, brewery, etc. within a block of property. Priced $50/ft or $50K/unit below recently sold renovated complex in neighborhood.
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $1,148
Year Built
- Built in 1983
Home Design
- Wood Frame Construction
- Composition Roof
- Stucco
Flooring
- Carpet
- Ceramic Tile
- Vinyl
Parking
- 8 Open Parking Spaces
- 8 Parking Spaces
Schools
- Capitol Elementary School
- Central High School
Utilities
- Cooling Available
- Central Heating
- Heat Pump System
Additional Features
- Ceiling Fan
- Property fronts an alley
Listing and Financial Details
- Legal Lot and Block 22 / A
- Assessor Parcel Number 111-25-163
Community Details
Overview
- 2 Buildings
- 4 Units
- Building Dimensions are 50 X 127
- West Lawn Subdivision
Building Details
- Operating Expense $14,134
- Gross Income $46,278
- Net Operating Income $36,367
Map
Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $1,159 | $8,667 | -- | -- |
| 2024 | $1,148 | $8,254 | -- | -- |
| 2023 | $1,148 | $44,680 | $8,930 | $35,750 |
| 2022 | $1,107 | $30,880 | $6,170 | $24,710 |
| 2021 | $1,099 | $25,820 | $5,160 | $20,660 |
| 2020 | $1,111 | $25,050 | $5,010 | $20,040 |
| 2019 | $1,081 | $21,680 | $4,330 | $17,350 |
| 2018 | $1,062 | $15,220 | $3,040 | $12,180 |
| 2017 | $1,034 | $15,400 | $3,080 | $12,320 |
| 2016 | $1,005 | $13,920 | $2,780 | $11,140 |
| 2015 | $926 | $9,150 | $1,830 | $7,320 |
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 12/30/2024 12/30/24 | Price Changed | $770,000 | -0.6% | -- |
| 08/30/2024 08/30/24 | For Sale | $775,000 | +160.9% | -- |
| 08/16/2018 08/16/18 | Sold | $297,000 | -2.6% | $239 / Sq Ft |
| 07/16/2018 07/16/18 | Price Changed | $305,000 | -1.3% | $246 / Sq Ft |
| 07/08/2018 07/08/18 | Price Changed | $309,000 | -1.9% | $249 / Sq Ft |
| 06/20/2018 06/20/18 | For Sale | $315,000 | -- | $254 / Sq Ft |
Deed History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Warranty Deed | -- | None Available | |
| Interfamily Deed Transfer | -- | Magnus Title Agency Llc | |
| Warranty Deed | $297,000 | Magnus Title Agency Llc | |
| Warranty Deed | -- | None Available | |
| Warranty Deed | -- | Great American Title Agency | |
| Warranty Deed | -- | None Available | |
| Quit Claim Deed | -- | None Available | |
| Warranty Deed | -- | None Available | |
| Cash Sale Deed | $57,000 | Guaranty Title Agency | |
| Trustee Deed | $138,500 | Great American Title Agency | |
| Interfamily Deed Transfer | -- | Magnus Title Agency | |
| Warranty Deed | $150,000 | Equity Title Agency Inc | |
| Interfamily Deed Transfer | -- | Chicago Title Insurance Co | |
| Warranty Deed | $93,000 | Chicago Title Insurance Co |
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $525,000 | New Conventional | |
| Previous Owner | $222,750 | New Conventional | |
| Previous Owner | $125,000 | Unknown | |
| Previous Owner | $35,000 | Purchase Money Mortgage | |
| Previous Owner | $225,000 | Purchase Money Mortgage | |
| Previous Owner | $187,000 | Stand Alone First | |
| Previous Owner | $147,905 | FHA |
Source: Arizona Regional Multiple Listing Service (ARMLS)
MLS Number: 6750467
APN: 111-25-163
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
All information should be verified by the recipient and none is guaranteed as accurate by ARMLS
Listing Information presented by local MLS brokerage: Ten-X, local REALTOR®- Arlene Richardson - (888)-952-6393
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