Seller's Agent in 2020
John Klocek
ABI Multifamily
(602) 639-0088
1 in this area
24 Total Sales
508 E Pierson St Phoenix, AZ 85012
Uptown Phoenix Neighborhood
--
Bed
--
Bath
2,733
Sq Ft
8,756
Sq Ft Lot
Highlights
- Cooling Available
- Phoenix Coding Academy Rated A
- Heating Available
About This Home
As of September 2020Pierson 8 consists of 2 adjacent 4-plexes (508-514). It is mid-century, block-constructed buildings and
has been completely updated top to bottom with high quality finishes. Some upgrades
include washer / dryers in each unit, new electrical, new windows, doors,
flooring, fixtures, bath surrounds, paint, landscaping, and private patios in 2 bed units.
It truly feels like a brand new property and was leased up immediately upon
completion of the improvements. The property is individually metered for electricity
and has a very attractive unit mix with (6) 2-bed / 1-bath units and (2) 1-bed / 1-bath
units in two separate fourplexes, which would allow for residential financing on each
property if desired. This is an amazing opportunity for a turn-key, bite-sized
investment in a fantast Pierson 8 Apartments is an 8-unit apartment community located in a quaint
neighborhood in the heart of Uptown Phoenix. Located right next to Brophy College
Preparatory, the property is located at "ground zero" of the Central Corridor and is
just over half a mile to the prestigious Central & Camelback intersection, with a light
rail station and Uptown Plaza. Uptown Plaza is a popular destination with Lou
Malnati's, Flower Child, AJ's Fine Foods, Shake Shack, and more. This is one of the
hottest areas of town for new, hip developments and more new restaurants and
retail than one could name. Restaurant Row along 7th Street is approximately 3/4 of
a mile away and hotspots such as Windsor, Postino, Federal Pizza, Joyride, and
Churn are a short bike ride away, just north of Uptown Plaza. The property is also
less than 2 miles to the newly renovated Park Central Mall and the new Creighton
University Campus. This location is as central is it gets and allows residents to enjoy,
with ease, so much of what Uptown has to offer. It is also just a short light rail ride
away, straight down Central, to Downtown Phoenix, ASU Downtown Campus, the
Stadium District, and more. With many dining, shopping, and entertainment
options, as well as multiple freeway access points all within minutes, Pierson Palms is
an extremely desirable location for residents and has consistently stayed fully
occupied.
Last Agent to Sell the Property
ABI Multifamily License #SA657592000 Listed on: 04/29/2020
Last Buyer's Agent
Non-MLS Agent
Non-MLS Office
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $3,015
Year Built
- Built in 1964
Lot Details
- Additional Parcels
Home Design
- Composition Roof
- Block Exterior
Parking
- 8 Open Parking Spaces
- 8 Parking Spaces
Utilities
- Cooling Available
- Heating Available
Listing and Financial Details
- The owner pays for trash collection, water, sewer
- Tax Lot 28
- Assessor Parcel Number 155-22-024
Community Details
Overview
- 2 Buildings
- 8 Units
- Building Dimensions are 124' x 138'
- Camelback Square Subdivision
Building Details
- Operating Expense $24,517
- Gross Income $121,344
- Net Operating Income $97,599
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Apr 29, 2020
Closed on
Sep 4, 2020
Sold by
46 Street Llc
Bought by
Goldstein Investment Co
Seller's Agent
John Klocek
ABI Multifamily
Buyer's Agent
Non-MLS Agent
Non-MLS Office
List Price
$1,800,000
Sold Price
$1,750,000
Premium/Discount to List
-$50,000
-2.78%
Current Estimated Value
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$629,500
Avg. Annual Appreciation
-8.81%
Purchase Details
Closed on
Dec 31, 2018
Sold by
Ppp Investments Llc
Bought by
46Th Street Llc
Purchase Details
Listed on
Aug 13, 2018
Closed on
Aug 20, 2018
Sold by
Callas Debbie and Callas John
Bought by
Ppp Investments Llc
Seller's Agent
Lisa Eagan
Leagan Realty, LLC
Buyer's Agent
Lisa Eagan
Leagan Realty, LLC
List Price
$390,000
Sold Price
$392,500
Premium/Discount to List
$2,500
0.64%
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
15.64%
Original Mortgage
$395,000
Interest Rate
4.5%
Mortgage Type
Stand Alone First
Purchase Details
Listed on
Jul 19, 2012
Closed on
Jul 30, 2012
Sold by
Bmp Capital Llc
Bought by
Callas John and Callas Debra
Seller's Agent
Ben Koerner
Fathom Realty Elite
Buyer's Agent
Lisa Eagan
Leagan Realty, LLC
List Price
$205,900
Sold Price
$206,000
Premium/Discount to List
$100
0.05%
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
11.26%
Original Mortgage
$146,250
Interest Rate
3.53%
Mortgage Type
New Conventional
Purchase Details
Listed on
Jul 19, 2012
Closed on
Jul 23, 2012
Sold by
Hassett Timothy J and Hassett Carol L
Bought by
Bmp Capital Llc
Seller's Agent
Ben Koerner
Fathom Realty Elite
Buyer's Agent
Lisa Eagan
Leagan Realty, LLC
List Price
$205,900
Sold Price
$206,000
Premium/Discount to List
$100
0.05%
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$146,250
Interest Rate
3.53%
Mortgage Type
New Conventional
Purchase Details
Closed on
Feb 19, 2008
Sold by
Hassett Carol L
Bought by
Hassett Dreams L L C
Purchase Details
Closed on
Sep 6, 2007
Sold by
Hassett Timothy J and Hassett Carol L
Bought by
Hassett Timothy J and Hassett Carol L
Purchase Details
Closed on
Apr 25, 2007
Sold by
Mcmanimen Tim
Bought by
Hassett Timothy J and Hassett Carol L
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$336,000
Interest Rate
6.14%
Mortgage Type
Purchase Money Mortgage
Purchase Details
Closed on
Jun 8, 2006
Sold by
Sorel Derek
Bought by
Mcmanimen Tim
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$300,500
Interest Rate
6.69%
Mortgage Type
Seller Take Back
Purchase Details
Closed on
Jan 30, 2006
Sold by
Sorel Dorothy
Bought by
Sorel Derek
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$240,000
Interest Rate
6.21%
Mortgage Type
New Conventional
Purchase Details
Closed on
May 30, 2001
Sold by
Solo Cynthia G and Solo Joseph J
Bought by
Sorel Derek and Sorel Dorothy
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$136,000
Interest Rate
7.14%
Mortgage Type
Unknown
Purchase Details
Closed on
Dec 27, 2000
Sold by
Passariello John D and Geller Laura
Bought by
Solo Joseph J and Solo Cynthia G
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$143,100
Interest Rate
7.71%
Purchase Details
Closed on
Mar 19, 1999
Sold by
Smith Herman George and Smith Margaret Kay
Bought by
Passariello John D
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$84,800
Interest Rate
6.96%
Mortgage Type
New Conventional
Purchase Details
Closed on
Apr 25, 1995
Sold by
Campol Verdamae A
Bought by
Smith Herman George and Smith Margaret Kay
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$69,500
Interest Rate
8.46%
Mortgage Type
Trade
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area
Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Special Warranty Deed | $1,750,000 | Commonwealth Title | |
| Warranty Deed | $475,000 | Landmark Title Assurance Age | |
| Warranty Deed | $397,500 | Landmark Title Assurance Age | |
| Warranty Deed | $206,000 | First American Title Ins Co | |
| Trustee Deed | $159,000 | None Available | |
| Special Warranty Deed | -- | None Available | |
| Interfamily Deed Transfer | -- | None Available | |
| Warranty Deed | $420,000 | Land Title Agency Of Az Inc | |
| Special Warranty Deed | $302,500 | Land Title Agency Of Az Inc | |
| Interfamily Deed Transfer | -- | Ticor Title Agency Of Az Inc | |
| Warranty Deed | $170,000 | American Title Insurance | |
| Warranty Deed | -- | American Title Insurance | |
| Warranty Deed | $106,000 | Security Title Agency | |
| Joint Tenancy Deed | $77,250 | United Title Agency |
Source: Public Records
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Previous Owner | $395,000 | Stand Alone First | |
| Previous Owner | $146,250 | New Conventional | |
| Previous Owner | $149,000 | Purchase Money Mortgage | |
| Previous Owner | $336,000 | Purchase Money Mortgage | |
| Previous Owner | $300,500 | Seller Take Back | |
| Previous Owner | $240,000 | New Conventional | |
| Previous Owner | $136,000 | New Conventional | |
| Previous Owner | $143,100 | No Value Available | |
| Previous Owner | $84,800 | New Conventional | |
| Previous Owner | $69,500 | Trade | |
| Closed | $25,500 | No Value Available |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 09/08/2020 09/08/20 | Sold | $1,750,000 | -2.7% | $640 / Sq Ft |
| 07/13/2020 07/13/20 | Pending | -- | -- | -- |
| 07/09/2020 07/09/20 | Price Changed | $1,799,000 | -0.1% | $658 / Sq Ft |
| 04/29/2020 04/29/20 | For Sale | $1,800,000 | +358.6% | $659 / Sq Ft |
| 09/07/2018 09/07/18 | Sold | $392,500 | +0.6% | $144 / Sq Ft |
| 09/04/2018 09/04/18 | For Sale | $390,000 | 0.0% | $143 / Sq Ft |
| 09/04/2018 09/04/18 | Price Changed | $390,000 | 0.0% | $143 / Sq Ft |
| 08/13/2018 08/13/18 | For Sale | $390,000 | +89.3% | $143 / Sq Ft |
| 08/24/2012 08/24/12 | Sold | $206,000 | 0.0% | $75 / Sq Ft |
| 07/27/2012 07/27/12 | Pending | -- | -- | -- |
| 07/19/2012 07/19/12 | For Sale | $205,900 | -- | $75 / Sq Ft |
Source: Arizona Regional Multiple Listing Service (ARMLS)
Tax History Compared to Growth
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 | $1,607 | $12,802 | -- | -- |
| 2024 | $1,552 | $12,192 | -- | -- |
| 2023 | $1,552 | $62,380 | $12,470 | $49,910 |
| 2022 | $1,543 | $50,620 | $10,120 | $40,500 |
| 2021 | $1,569 | $43,770 | $8,750 | $35,020 |
| 2020 | $1,530 | $38,350 | $7,670 | $30,680 |
| 2019 | $1,463 | $34,500 | $6,900 | $27,600 |
| 2018 | $1,415 | $28,780 | $5,750 | $23,030 |
| 2017 | $1,299 | $19,710 | $3,940 | $15,770 |
| 2016 | $1,253 | $15,130 | $3,020 | $12,110 |
| 2015 | $1,165 | $12,420 | $2,480 | $9,940 |
Source: Public Records
Agents Affiliated with this Home
-
John Klocek
-
Patrick Burch
Seller Co-Listing Agent in 2020
Patrick Burch
ABI Multifamily
(520) 603-1768
1 in this area
40 Total Sales
-
N
Buyer's Agent in 2020
Non-MLS Agent
Non-MLS Office
-
Lisa Eagan
Seller's Agent in 2018
Lisa Eagan
Leagan Realty, LLC
(480) 766-2115
13 Total Sales
-
Ben Koerner
Seller's Agent in 2012
Ben Koerner
Fathom Realty Elite
(602) 647-9151
45 Total Sales
Map
Source: Arizona Regional Multiple Listing Service (ARMLS)
MLS Number: 6071665
APN: 155-22-024
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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