Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1012 E Pierson St Phoenix, AZ 85014

    Sponsored
    For Sale
    $882,600

    MULTI_FAMILY - Phoenix, AZ

    Days on Market:
    3
    Last Refresh:
    Feb 22 at 11:06 am

    Property Features for 1012 E Pierson St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Zoning
    R3
    APN
    155-11-092
    Appliances
    Free-Standing Range, Disposal, Dishwasher, Refrigerator, Microwave, Washer/Dryer

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Electric (Heating)
    Cooling system
    Electric, Ceiling Fan(s), Central Air

    Building Details

    Year built
    1942
    Number of units
    3
    Flooring type
    Vinyl
    Building materials
    Wood Frame, Stucco
    Roof type
    Composition

    We can help!

    Listing Contact
    James J Yancey

    Gentry Real Estate Group (480) 654-3655

    Listing agent James J Yancey (480) 452-6227

    Listing date Feb 20, 2026

    MLS# 6960831 Listing URL

    Copyright © 2026 Arizona Regional Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Phoenix Multifamily Property with New Construction

    This multifamily property in Phoenix, AZ, features three units across two buildings on a single parcel. The property includes a duplex in the front building, consisting of one 3-bed/2-bath unit and one 2-bed/2-bath unit, plus a separate 3-bed/2-bath casita. Constructed in 1942 with new construction completed in 2025, all units are large and feature upgraded interiors. Interior upgrades include white quartz countertops, luxury vinyl-plank flooring, subway tile showers, stainless steel appliances, and in-suite washer/dryers. Exterior upgrades feature new paint, stucco, new windows, three new AC units, new roofs, and private fenced yards for all units. The units also include large walk-in closets. The property is located just outside Biltmore, close to uptown, with plentiful dining and entertainment options in the well-located centralized area. The property is zoned R3.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Triplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Phoenix
    County
    Maricopa
    State
    Arizona
    Longitude
    -112.05946
    Latitude
    33.507666

    Nearby Similar for Sale

    • $11,600,000

      Arcadia Area Condos For Sale

      Eight high-end condos in Phoenix's Arcadia area, each with private elevator.
      4525 N 40Th St, Phoenix, AZ 85018
      View Details
    • New
      $558,600

      Renovated Triplex Near Grand Canyon

      Upgraded triplex near Grand Canyon University with strong income potential.
      2334 W Morten Ave, Phoenix, AZ 85021
      View Details
    • New
      $518,500

      Renovated Multi-Family Property in Phoenix

      Three units, renovated in 2024, Roosevelt Arts District location.
      329 N 17Th Dr, Phoenix, AZ 85007
      View Details
    • New
      $518,500

      Renovated Multi-Family in Roosevelt District

      Three units, renovated in 2024, in vibrant Roosevelt Arts District.
      325 N 17Th Dr, Phoenix, AZ 85007
      View Details
    • New
      $629,900

      Updated Triplex in Phoenix Location

      Fully updated triplex in prime Phoenix location, great investment opportunity.
      4832 E Willetta St, Phoenix, AZ 85008
      View Details
    • New
      $489,000

      Phoenix Multi-Unit Investment Opportunity

      Two adjacent properties with three units in central Phoenix.
      1813 W Sherman St, Phoenix, AZ 85007
      View Details
    • New
      $629,900

      Updated Triplex in Phoenix Location

      Fully updated triplex in a prime Phoenix location.
      4838 E Willetta St, Phoenix, AZ 85008
      View Details
    • $860,000

      Phoenix Triplex with Development Potential

      Triplex in Phoenix with development potential for additional units.
      2646 E Willetta St, Phoenix, AZ 85008
      View Details
    • $949,500

      Updated Tri-Plex in Uptown Phoenix

      Updated tri-plex in Uptown Phoenix, ideal for investors.
      6239 N 14Th St, Phoenix, AZ 85014
      View Details
    • $1,600,000

      Arcadia Lite Multifamily Opportunity

      Remodeled 1 bed, 1 bath units in Phoenix.
      3110 N 37Th St, Phoenix, AZ 85018
      View Details
    • New
      $799,999
      4,590 SF

      New Construction Duplex in Phoenix

      New construction duplex with spacious units, garages, and modern design.
      5022 S 35Th Ave, Phoenix, AZ 85041
      View Details
    • New
      $699,000
      Pending

      Phoenix Multi-Unit Investment Opportunity

      Four remodeled units near shopping, dining, and freeway access.
      2819 W Louise Dr, Phoenix, AZ 85027
      View Details

    FAQs

    What type of property is this?
    Triplex - Three units, two buildings, great unit mix, large units.
    Where is this triplex located?
    The property is located at 1012 E Pierson St Phoenix, AZ.
    What is the asking price?
    The asking price for this property is $882,600.
    What are key features of this property?
    This property features: - 8.35% Gross Cap investment opportunity.; - Newly built in 2025 (one of the buildings).; - Three large units with upgraded interiors: quartz countertops, vinyl-plank flooring, subway tile showers, stainless steel appliances, in-suite washer/dryer.
    (480) 750-9910
    Request Owner's contact information
    1012 E Pierson St Phoenix, AZ 85014
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1012 E Pierson St
    Phoenix, AZ 85014
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1012 E Pierson St Phoenix, AZ 85014
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    James J Yancey
    (480) 750-9910 (480) 452-6227
    Learn more
    Google sign-in failed. Please try again or use another login method.