1435 Pierce StPhoenix, AZ 85006

Property Details for 1435 Pierce St

Year built

1983

Lot size

0.16 AC

Property type

Investment properties

Property subtype

Multifamily properties

Description

This exceptional investment opportunity presents a four-unit multifamily property located at 1435 E Pierce St, Phoenix, AZ 85006. The property, situated on a 0.158-acre lot (APN 116-19-168), consists of two, two-story buildings totaling 2,484 net rentable square feet. Built in 1983 and extensively renovated in 2024, this property boasts a 100% occupancy rate, generating a strong net operating income (NOI) of $59,686, resulting in a 5.97% capitalization rate. The asking price is $999,500, representing a price per unit of $249,875. Each of the four units is currently leased, providing immediate cash flow. The property is zoned M-H (Multi-Family High Density), offering potential for future development or appreciation. Located in the desirable Garfield District of Phoenix, this property benefits from its proximity to numerous amenities, including restaurants, shops, and parks, ensuring strong rental demand. This turnkey investment is ideal for both seasoned investors and those seeking to diversify their portfolio. The property's recent renovations and prime location contribute to its high potential for long-term growth and profitability. The property's strong financial performance and desirable location make it a compelling investment opportunity.

Location Insight

City

Phoenix

County

Maricopa

State

Arizona

Latitude

33.4558

Longitude

-112.051

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