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2612 W Pierson Street, Phoenix, AZ 85017
Overview
Description
Supplements: ... (Read more) Currently 100% occupied. Grand Canyon University (GCU) is the neighborhood's dominant demand driver. Enrollment has surged from ~118,000 in 2023 to over 125,000 in 2024, and is projected to exceed 133,000 by 2025-26. The Phoenix campus now houses ~25,000 students, with ~17,000 living in 33 residence halls. GCU's growth generates year-round rental demand, service jobs, and billions in annual economic output for the area. Ongoing Canyon Corridor revitalization through public-private partnerships improving safety, streetscape, and long-term property values. Just off I-17 with direct access to Camelback Rd and 27th Ave. Served by Valley Metro bus routes and a short ride to light rail.
Listing Details MLS# 6921067
Location, Tax & Legal
- House Number
- 2612
- Compass
- W
- Street Name
- Pierson
- St Suffix
- Street
- City/Town Code
- Phoenix
- State/Province
- AZ
- Zip Code
- 85017
- Country
- US
- County Code
- Maricopa
- Subdivision
- ALTRO TERRACE
- Assessor Number
- 154-04-016
- Tax Year
- 2024
- Assessor's Map #
- 4
- Assessor's Parcel #
- 16
- Add'l Parcels
- No
- Tax Municipality
- Maricopa - COUNTY
- Taxes
- 1321
- Legal
- LOT 16 ALTRO TERRACE MCR 005235
- Marketing Name
- Triplex
Contract Info
- Ownership
- Fee Simple
General Property Description
- Lot Size Dimensions
- 8597
- Year Built
- 1961
- Uncvrd Parking Spcs
- 3
- Total # of Units
- 3
- # of Buildings
- Yes
- Zoning
- R3
- Flood Zone
- No
- Elementary School District
- Alhambra Elementary District
- High School District
- Phoenix Union High School District
Remarks Misc
- Cross Street
- 27th Ave. and Pierson
- Directions
- From Camelback, go south on 27th Ave. to Pierson and take a left. Property is on the left hand side.
Legal Info
- Lot Number
- 16
Income Expenses
- Gross Annual Sch Inc
- 36000
- Net Operating Income
- 30900
More Information
Showing Notification Methods
- Showing Service
- No Showing Service Used
1 Bedroom Units
- # Baths
- Yes
- Avg Rent
- 0
3 Bedrooms Units
- # 3 Bedroom Units
- 2
- Avg Rent
- 2000
- Avg SqFt
- 1150
- # Baths
- 2
Project Type
- Tri-Plex
- Yes
Construction
- Block
- Yes
Const - Finish
- Painted
- Yes
Roofing
- Other
- Yes
Floors
- Ceramic Tile
- Yes
Sale Includes
- Land & Building
- Yes
Income & Expenses
- Annual Ins Exp
- 3000
- Annual Maint Exp
- 1800
- Annual Wtr/Swr Exp
- 1500
- Owner Association
- No
- Annual Ownr Asoc Fee
- 0
- Operating Exp
- 7621
- Other Income
- 0
- Vacancy Allowance
- 0.05
- Adjusted Gross Inc
- 34200
Pmt & Rate Info
- Cap Rate
- 4.75
- Equity
- 650000
- Down Payment %
- 0
- Monthly Payments
- 0
- Total Owed
- 0
Lockbox Type
- None
- Yes
Community Features
- No Pool
- Yes
Heating
- Electric
- Yes
Cooling
- Central Air
- Yes
Exterior Amenities
- Fenced
- Yes
- Cable TV Available
- Yes
- Patio/Balcony
- Yes
Interior Features
- Fire/Smoke Alarm(s)
- Yes
- Mini Blinds
- Yes
Tenant Pays
- Electricity
- Yes
Appliances Included
- Free-Standing Electric Oven
- Yes
- Refrigerator
- Yes
- Washer/Dryer
- Yes
Road Surface Type
- Asphalt
- Yes
Source of Fincl Data
- Projected Proforma
- Yes
Water Source
- City Franchise
- Yes
Sewer
- Sewer - Public
- Yes
Parking Features
- 1 Space/Unit
- Yes
Electric
- APS
- Yes
Gas
- None
- Yes
Owner Pays
- Water
- Yes
New Financing
- Cash
- Yes
- VA
- Yes
- Conventional
- Yes
- FHA
- Yes
Existing 1st Loan
- VA
- Yes
Existing 1st Loan Terms
- Assume - Qualify
- Yes
Existing 2nd Loan
- Treat as Free&Clear
- Yes
Existing 2nd Loan Type
- Not Applicable
- Yes
Existing 2nd Loan Terms
- Not Applicable
- Yes
Existing 3rd Loan
- Treat as Free&Clear
- Yes
Existing 3rd Loan Type
- Not Applicable
- Yes
Reports/Disclosures
- Seller Prop Disc Stm
- Yes
Existing 3rd Loan Terms
- Not Applicable
- Yes
Environmental
- None
- Yes
Existing Othr Ln Trm
- Not Applicable
- Yes
Efficiency Units
- Avg Rent
- 0
2 Bedroom Units
- Avg Rent
- 0
4 Bedrooms Units
- Avg Rent
- 0
Property Features