NOT LISTED FOR SALE

918 E Pierce St Phoenix, AZ 85006

Garfield Neighborhood

Estimated Value: $728,000 - $836,000

-- Bed
-- Bath
1,644 Sq Ft
$484/Sq Ft Est. Value

Last Sold July 18, 2014

Last sale price $247,500 $151 Per Sq Ft

Est. 221% increase in value since last sale

Current estimated payment $4,258/month

13 Days on Market

Highlights

  • Wood Flooring
  • Cooling System Mounted To A Wall/Window
  • Central Heating and Cooling System
  • Phoenix Coding Academy Rated A

About This Home

As of July 2014

Pierce Historic Apartments is a charming, 5 unit multifamily offering in the Historic Garfield District, near lots of downtown attractions. This fully remodeled, historic building has lots of charm and is a hit with our terrific tenants. Fully leased, this is a great turn key investment opportunity with great cash-flow and upside potential.

Contact Brokers to Tour, do not disturb tenants. Drive by only.

Last Agent to Sell the Property

George Gibson

Arizona Investment & Mgt, LLC License #SA577890000 Listed on: 06/24/2014

Co-Listed By

Mark Kaitz

Arizona Investment & Mgt, LLC License #BR550798000

Last Buyer's Agent

George Gibson

Arizona Investment & Mgt, LLC License #SA577890000 Listed on: 06/24/2014

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $714

Year Built

  • Built in 1900

Lot Details

  • 6,882

Home Design

  • Brick Exterior Construction
  • Wood Frame Construction
  • Composition Roof
  • Stone Exterior Construction
  • Stucco

Flooring

  • Wood Flooring

Parking

  • 5 Open Parking Spaces
  • 5 Parking Spaces

Schools

  • Garfield Elementary School

Utilities

  • Cooling System Mounted To A Wall/Window
  • Central Heating and Cooling System
  • Heat Pump System
  • Window Unit Heating System

Listing and Financial Details

  • Tenant pays for cable TV
  • The owner pays for trash collection, water, landscaping
  • Tax Lot 95
  • Assessor Parcel Number 116-32-115

Community Details

Overview

  • 3 Buildings
  • 5 Units
  • Building Dimensions are 6875

Building Details

  • Gross Income $29,964
  • Net Operating Income $22,529

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$714

Year Built

Built in 1900

Lot Details

0

Listing Details

  • Cross Street: 9th Street
  • Legal Info Range: 3E
  • Property Type: Multiple Dwellings
  • Zoning: MULTIFAMILY HD
  • Number Of Buildings: 3
  • Year Built: 1900
  • Tax Year: 2013
  • Road Surface Type: Asphalt
  • Professional Management Expense: 2372.0
  • Co List Office Mls Id: azim01
  • Co List Office Phone: 602-277-7368
  • Construction Brick: Yes
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Flooring: Wood
  • Appliances Included:FS OvenRange: Yes
  • Appliances Included:Refrigerator: Yes

Exterior Features

  • Disclosures: None
  • Construction Type: Stucco, Stone, Brick, Frame - Wood
  • Roof: See Remarks, Composition
  • 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:Street Parking: Yes
  • Parking:Paved Parking: Yes

Utilities

  • Electric: APS
  • Cooling: Central A/C, Heat Pump, Wall/Window Unit(s)
  • Heating: Central, Heat Pump, Window/Wall Unit(s), Electric
  • Cooling Y N: Yes
  • Heating Yn: Yes
  • Water Source: City Franchise
  • Heating:Electric: Yes
  • Heating:Heat Pump2: Yes
  • Heating:Central: Yes
  • Heating:WindowWall Unit(s): Yes

Condo/Co-op/Association

  • Community Features: No Pool

Association/Amenities

  • Interior Amenities:FireSmoke Alarm(s): Yes
  • Interior Amenities:Mini Blinds: Yes
  • Community Amenities:No Pool: Yes
  • Exterior Amenities:Partially Fenced: Yes
  • Exterior Amenities:Desert Landscaping: Yes
  • Interior Amenities:Unfurnished: Yes
  • Exterior Amenities:Pet Restrictions: Yes

Fee Information

  • Annual Water Sewer Expense: 1125.0

Schools

  • Elementary School: Garfield School

Lot Info

  • Lot Size: 6875
  • Additional Parcels: No
  • Parcel #: 116-32-115

Multi Family

  • Owner Pays: Trash Collection, Water, Landscaping
  • Tenant Pays: Cable TV
  • Number Of Units Total: 5
  • Annual Gross Income: 29963.52
  • Insurance Expense: 750.0
  • Maintenance Expense: 500.0
  • Property Net Operating Income: 22529.0
  • Vacancy Allowance Rate: 0.04

Tax Info

  • Tax Annual Amount: 714.0
  • Tax Book Number: 116.00
  • Tax Lot: 95

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jun 24, 2014
Closed on
Jul 15, 2014
Sold by
Bluenest 1 Llc
Bought by
Jp Cosery Llc
Seller's Agent
George Gibson
Arizona Investment & Mgt, LLC
Buyer's Agent
George Gibson
Arizona Investment & Mgt, LLC
List Price
$269,000
Sold Price
$247,500
Premium/Discount to List
-$21,500
-7.99%
Current Estimated Value
$795,622

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$548,122
Avg. Annual Appreciation
10.72%

Purchase Details

Closed on
May 4, 2012
Sold by
Rigo Kiwi Investments Llc
Bought by
Bluenest 1 Llc

Purchase Details

Closed on
Apr 4, 2012
Sold by
Haddajian Dikran
Bought by
Rigo Kiwi Investments Llc

Purchase Details

Closed on
Apr 21, 2005
Sold by
Gard James Dalton
Bought by
Haddajian Dikran

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$112,500
Interest Rate
7.99%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Nov 18, 1999
Sold by
Carreras Robert N
Bought by
Gard James Dalton

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$44,850
Interest Rate
7.84%
Mortgage Type
Seller Take Back
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
Not Available
List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Jp Cosery Llc $247,500 Greystone Title Agency Llc
Bluenest 1 Llc $62,500 Greystone Title Agency
Rigo Kiwi Investments Llc $52,500 None Available
Haddajian Dikran $125,000 Old Republic Title Agency
Gard James Dalton $55,000 Security Title Agency
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Haddajian Dikran $112,500
Previous Owner Gard James Dalton $44,850
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
07/18/2014 07/18/14 Sold $247,500 -8.0% $151 / Sq Ft
07/07/2014 07/07/14 Pending -- -- --
06/24/2014 06/24/14 For Sale $269,000 -- $164 / Sq Ft
Source: Arizona Regional Multiple Listing Service (ARMLS)

Tax History Compared to Growth

Source: Public Records

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 $1,080 $7,607 -- --
2024 $1,007 $7,245 -- --
2023 $1,007 $62,330 $12,460 $49,870
2022 $972 $42,920 $8,580 $34,340
2021 $964 $35,360 $7,070 $28,290
2020 $975 $29,480 $5,890 $23,590
2019 $974 $22,560 $4,510 $18,050
2018 $957 $20,710 $4,140 $16,570
2017 $935 $17,780 $3,550 $14,230
2016 $908 $12,970 $2,590 $10,380
2015 $840 $6,780 $1,350 $5,430
Source: Public Records

Agents Affiliated with this Home

  • G

    Seller's Agent in 2014

    George Gibson

    Arizona Investment & Mgt, LLC

    (602) 277-7368

    8 Total Sales

    George Gibson
    Section Image

  • M

    Seller Co-Listing Agent in 2014

    Mark Kaitz

    Arizona Investment & Mgt, LLC

    Section Image
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Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 5135209

Arizona Regional Multiple Listing Service (ARMLS)

APN: 116-32-115

Arizona Maricopa County Phoenix 85006 Garfield

918 E Pierce St, Phoenix, AZ

Not Listed for Sale

MultiFamily

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.

Arizona Regional Multiple Listing Service (ARMLS) 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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