NOT LISTED FOR SALE

Estimated Value: $1,029,617 - $1,072,000

5 Beds
-- Bath
1,010 Sq Ft
$1,036/Sq Ft Est. Value

Sale Details

Date Sold: October 31, 2014

Last sale price $355,000 $351 Per Sq Ft

Est. 195% increase in value since last sale

Current estimated payment $5,743 / mo

161 Days on Market

Highlights

  • Cooling System Mounted To A Wall/Window
  • Community Barbecue Grill
  • Central Heating and Cooling System
  • Phoenix Coding Academy Rated A
  • Stone Flooring

About This Home

As of October 2014

Pierce Apartments is located in Downtown Phoenix just off 7th Street between Roosevelt and Washington; one of the most vibrant locations in all of Arizona! The past 15 years have brought tremendous residential gentrification to downtown Phoenix. With the implementation of the Metro Light Rail through the neighborhood, coupled with Chase Field (home to the Arizona Diamondbacks) and US Airways Center (home to the Phoenix Suns), major universities, employers, and retailers have developed massive new commercial developments in downtown Phoenix . Directly across 7th Street from Pierce Apartments is the "Phoenix Biomedical Campus" which is a developing 30-acre campus with 615,000 square feet already completed. Currently there is one 20,000-square-foot project under construction, three projects in planning, totaling an additional 750,000 square feet, with 6,000,000 total square feet of Biomedical related space at build-out! The University of Arizona's College of Medicine; TGen, which houses the National Institute of Health; St. Joseph's Barrow Neurological Institute; Arizona Biomedical Collaborative 1; and Health Sciences Education Buildings for University of Arizona and Northern Arizona University, are all currently open on the Biomedical Campus today. Currently under construction is the $100 million medical campus of University of Arizona's Cancer Center, slated to open in 2015.



Arizona State University's Downtown Campus, home to the Walter Cronkite School of Journalism and Mass Communication; Sandra Day O'Connor College of Law; and several other post-graduate programs are just four blocks west of our Subject and are a major new tenant demand generator for Downtown Phoenix. Additional schools in the area include Lowell Elementary School, Osborn Junior High School, North High School, and Phoenix Biomedical High School.



Downtown Phoenix is also the cultural and arts epicenter of Metro Phoenix. The First Friday Art Walk along Roosevelt attracts thousands of art enthusiasts each month where local galleries and businesses create a festival-like atmosphere each month. Additional cultural and entertainment venues in the neighborhood include Comerica Theatre, Symphony Hall, Herberger Theatre, Phoenix Children's Museum, Arizona Science Center, Heard Museum, Phoenix Art Museum, Monarch Theatre, CityScape, Stand Up Live, Burton Barr Central Library, Chase Field, US Airways Center, and the Phoenix Convention Center.



Downtown Phoenix is also home to many nationally acclaimed restaurants such as Matt's Big Breakfast, Fox Concepts "Arrogant Butcher", the Phoenix Public Market, and award winning Chef Chris Bianco's creation Pizza Bianco. Additional restaurants and retailers are located at CityScape Phoenix, featuring Urban Outfitters and JoS. A. Bank. Nearby recreation includes Margaret T. Hance Park, featuring picnic areas, playgrounds, walking paths, ramadas, sand volleyball court, and dog park. The park is also home to the Japanese Friendship Garden and the Irish Cultural Center.

Last Agent to Sell the Property

Greg Thielen

At Real Estate Services License #BR104208000 Listed on: 04/23/2014

Last Buyer's Agent

Greg Thielen

At Real Estate Services License #BR104208000 Listed on: 04/23/2014

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $1,223

Year Built

  • Built in 1931

Lot Details

  • 8,973

Home Design

  • Wood Frame Construction
  • Tile Roof
  • Foam Roof
  • Stucco

Flooring

  • Stone
  • Concrete

Parking

  • 5 Open Parking Spaces
  • 5 Parking Spaces

Utilities

  • Cooling System Mounted To A Wall/Window
  • Central Heating and Cooling System
  • Window Unit Heating System
  • Separate Meters
  • Master Water Meter

Listing and Financial Details

  • Tenant pays for cable TV
  • The owner pays for trash collection, water, sewer, landscaping
  • Tax Lot 5
  • Assessor Parcel Number 116-32-005

Community Details

Overview

  • 3 Buildings
  • 5 Units
  • Building Dimensions are 50'x180'

Amenities

  • Community Barbecue Grill

Building Details

  • Operating Expense $13,293
  • Gross Income $41,676
  • Net Operating Income $28,455

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$1,223

Year Built

Built in 1931

Lot Details

8,973 Sq Ft Lot

Listing Details

  • Cross Street: 7th St & Pierce
  • Legal Info Range: 3E
  • Property Type: Multiple Dwellings
  • Zoning: R-5
  • Number Of Buildings: 3
  • Year Built: 1931
  • Tax Year: 2013
  • Road Surface Type: Asphalt, Curb(s) & Gutter(s), Alley
  • Professional Management Expense: 2859.0
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Flooring: Stone, Concrete
  • Appliances Included:FS OvenRange: Yes
  • Appliances Included:Refrigerator: Yes
  • Appliances Included:Dishwasher: Yes
  • Appliances Included:Disposal: Yes
  • Appliances Included:Microwave2: Yes

Exterior Features

  • Disclosures: None
  • Construction Type: Stucco, Frame - Wood
  • Roof: Tile, Foam
  • Construction:Frame - Wood: Yes

Garage/Parking

  • Open Parking Spaces: 5.0
  • Total Parking Spaces: 5.0
  • General Property Description:Uncvrd Parking Spcs: 5.0
  • General Property Description:Total Parking Spcs: 5.0
  • Parking:Free: Yes
  • Parking:Street Parking: Yes
  • Parking:Paved Parking: Yes
  • Parking:Assigned: Yes
  • Parking:_one_ SpaceUnit: Yes

Utilities

  • Electric: APS, Individual Meter
  • Cooling: Central A/C, Individual, Wall/Window Unit(s)
  • Heating: Central, Window/Wall Unit(s), Electric
  • Cooling Y N: Yes
  • Heating Yn: Yes
  • Water Source: Master Meter
  • Heating:Electric: Yes
  • Heating:Central: Yes
  • Heating:WindowWall Unit(s): Yes

Condo/Co-op/Association

  • Community Features: Barbecue, No Pool

Association/Amenities

  • Exterior Amenities:Landscape Wtr System: Yes
  • Exterior Amenities:PatioBalcony: Yes
  • Exterior Amenities:Security Light(s)3: Yes
  • Interior Amenities:FireSmoke Alarm(s): Yes
  • Community Amenities:No Pool: Yes
  • Exterior Amenities:Partially Fenced: Yes
  • Exterior Amenities:Desert Landscaping: Yes
  • Interior Amenities:Unfurnished: Yes
  • Community Amenities:Barbecue: Yes
  • Exterior Amenities:Pet Restrictions: Yes

Fee Information

  • Annual Fuel Expense: 800.0
  • Trash Expense: 1000.0
  • Annual Water Sewer Expense: 2100.0

Lot Info

  • Lot Size: 50'x180'
  • Additional Parcels: No
  • Parcel #: 116-32-005

Multi Family

  • Owner Pays: Trash Collection, Water, Sewer, Landscaping
  • Tenant Pays: Cable TV
  • Number Of Units Total: 5
  • Annual Gross Income: 41676.0
  • Insurance Expense: 1531.0
  • Maintenance Expense: 2500.0
  • Property Net Operating Income: 28455.0
  • Annual Operating Expense: 13293.0
  • Vacancy Allowance Rate: 0.08

Tax Info

  • Tax Annual Amount: 1223.0
  • Tax Book Number: 116.00
  • Tax Lot: 5

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Aug 30, 2023
Sold by
Stevens Cari-Lee
Bought by
Pink Sky 712 East Pllc
Current Estimated Value
$1,046,404

Purchase Details

Listed on
Apr 23, 2014
Closed on
Oct 22, 2014
Sold by
Sandlot Holdings Llc
Bought by
Stevens Cari Lee
Seller's Agent
Greg Thielen
At Real Estate Services
Buyer's Agent
Greg Thielen
At Real Estate Services
List Price
$399,000
Sold Price
$355,000
Premium/Discount to List
-$44,000
-11.03%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
9.83%

Purchase Details

Closed on
May 31, 2012
Sold by
Selles Oscar
Bought by
Sandlot Holdings Llc

Purchase Details

Closed on
Sep 8, 2004
Sold by
Selles Ernesto
Bought by
Selles Oscar

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$277,400
Interest Rate
5.77%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Jun 19, 2003
Sold by
Miramontes Mario A
Bought by
Selles Oscar and Selles Ernesto

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$128,000
Interest Rate
6.24%
Mortgage Type
Seller Take Back

Purchase Details

Closed on
Oct 24, 2002
Sold by
Selles Avelinda
Bought by
Selles Ernesto

Purchase Details

Closed on
Feb 4, 2000
Sold by
Arellano Maria Consuelo
Bought by
Miramontes Mario A

Purchase Details

Closed on
Jan 20, 2000
Sold by
Urquhart Joseph G
Bought by
Miramontes Mario A

Purchase Details

Closed on
Dec 8, 1997
Sold by
Harrison James
Bought by
Urquhart Joseph G

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$50,000
Interest Rate
7.19%
Mortgage Type
Commercial
Source: Public Records
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Purchase History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Buyer Sale Price Title Company
Pink Sky 712 East Pllc -- None Listed On Document
Stevens Cari Lee $355,000 First Arizona Title Agency
Sandlot Holdings Llc $280,928 Lawyers Title Company
Sandlot Holdings Llc $280,928 Lawyers Title Company
Selles Oscar -- Security Title Agency
Selles Oscar $160,000 Security Title Agency
Selles Ernesto -- Security Title Agency
Miramontes Mario A -- Security Title Agency
Miramontes Mario A $120,000 Security Title Agency
Urquhart Joseph G $68,000 Lawyers Title Of Arizona Inc
Source: Public Records

Mortgage History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Status Borrower Loan Amount
Previous Owner Selles Oscar $277,400
Previous Owner Selles Oscar $128,000
Previous Owner Urquhart Joseph G $50,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
10/31/2014 10/31/14 Sold $355,000 -11.0% $351 / Sq Ft
10/01/2014 10/01/14 Pending -- -- --
04/23/2014 04/23/14 For Sale $399,000 -- $395 / Sq Ft
Source: Arizona Regional Multiple Listing Service (ARMLS)

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 $1,880 $13,238 -- --
2024 $1,753 $12,608 -- --
2023 $1,753 $64,230 $12,840 $51,390
2022 $1,691 $43,620 $8,720 $34,900
2021 $1,678 $36,430 $7,280 $29,150
2020 $1,697 $30,550 $6,110 $24,440
2019 $1,695 $24,230 $4,840 $19,390
2018 $1,666 $20,360 $4,070 $16,290
2017 $1,627 $19,070 $3,810 $15,260
2016 $1,580 $14,410 $2,880 $11,530
2015 $1,462 $12,280 $2,450 $9,830
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 5104778

Arizona Regional Multiple Listing Service (ARMLS)

APN: 116-32-005

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