2612 W Pierson Street, Phoenix, AZ 85017

$650,000
Property Type: Multiple Dwellings Status: Active
Current Price: $650,000 Last Modified: 7/27/2026

Overview

Description

Fully renovated triplex investment opportunity in Phoenix's 85017 Canyon Corridor. The property underwent a comprehensive refresh just over a year ago and has been meticulously maintained since. Major capital improvements include a new roof (July 2024), all new sewer lines from under-slab to city connection, and updated electrical wiring—rare peace of mind for multifamily in this vintage. Each unit offers upgraded finishes with new flooring, cabinets, windows (with 2'' faux wood blinds), stainless steel appliances, in-unit stack washer/dryer, and private fenced backyards. Two of the three AC units and all water heaters installed in 2024. The property features block wall construction with metal security gates, a shared courtyard with picnic area, and strong tenant appeal.

Supplements: 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 d ...

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

Project Type: Tri-Plex Construction: Block Const - Finish: Painted Roofing: Other Floors: Ceramic Tile Sale Includes: Land & Building Community Features: No Pool Exterior Amenities: Fenced; Cable TV Available; Patio/Balcony Interior Features: Fire/Smoke Alarm(s); Mini Blinds Appliances Included: Free-Standing Electric Oven; Refrigerator; Washer/Dryer Cooling: Central Air Water Source: City Franchise Sewer: Sewer - Public Electric: APS Gas: None Parking Features: 1 Space/Unit Road Surface Type: Asphalt Owner Pays: Water Tenant Pays: Electricity Source of Fincl Data: Projected Proforma Lockbox Type: None Existing 1st Loan: VA Existing 1st Loan Terms: Assume - Qualify Existing 2nd Loan: Treat as Free&Clear Existing 2nd Loan Type: Not Applicable Existing 2nd Loan Terms: Not Applicable Existing 3rd Loan: Treat as Free&Clear Existing 3rd Loan Type: Not Applicable Existing 3rd Loan Terms: Not Applicable Existing Othr Ln Trm: Not Applicable New Financing: Cash; VA; FHA; Conventional Environmental: None
IDX
Listing Office: My Home Group Real Estate
Last Updated: July - 27 - 2026
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