UNDER CONTRACT-801 E. Dunlap Ave. Phoenix AZ 85020-Absolute NNN in place $1,495,000 Cap Rate 7.63%

801 E. Dunlap Ave., Phoenix, AZ 85020 $1,495,000 Absolute NNN Lease-Home Run at 7.63%-Real Cap Rate

The Property

Lease Highlights:
Lease Beginning: 3/24/2024
Lease Amount per Month: $9,500

NNN Expenses: $3,431(Taxes and Insurance) Annual
Lease Expires: 4/31/2026
Owner is extending the lease to a min. of 3 years but probably 5 years

Tenant Pays Repairs and Maintenance as well as W/S/T

What is a NNN? An Absolute NNN Lease simply means that the Tenant pays 100% of expenses. All repairs, all utilities, insurance and property taxes.

There is really good opportunity to own 8 units of Multifamily without many of the traditional expenses.

This exceptional investment opportunity presents a fully leased 8-unit property master leased to a reputable sober living company. Located in the heart of Phoenix, AZ, this property is strategically positioned to offer stable income with minimal management responsibilities.

Property Highlights:
Recent Renovations: Over $200,000 in recent upgrades including:
– New bathrooms featuring tile showers ($50,000)
– Updated flooring throughout ($40,000)
– New or replaced appliances ($10,000)
– Fresh interior and exterior paint ($35,000)
– Modern kitchen upgrades including new cabinets ($10,000)
– Enhanced security with a steel fence and new exterior doors ($10,000)
– Upgraded finishes and lighting fixtures ($1,500)
– Improved laundry facilities ($2,000)
– Installation of surveillance cameras for added security ($22,000, operational status verified)
– Updated hot water heaters and AC units installed within the last 5 years ($34,000)

Financial Overview:
– **Lease Terms:** Long-term master lease with a reputable sober living company covering 100% of expenses.
– Income Stability:** Predictable rental income with all expenses paid by the tenant, offering a hassle-free investment opportunity.
– Capital Expenditures: Recent renovations ensure reduced maintenance costs and increased tenant satisfaction, enhancing property value and marketability.

Investment Considerations:
This property represents an attractive opportunity for investors seeking stable cash flow and minimal management involvement. With a strong lease in place and recent capital improvements, it stands as a secure investment in the vibrant Phoenix real estate market.

Disclaimer: Buyers are encouraged to verify all financial figures and lease terms independently.*

For more details or to schedule a viewing, please contact us today.

Virtual Tour-Check it out!

If you‘re interested in exploring the features of this property without leaving the comfort of your home, I highly recommend checking out the virtual tour. By clicking on the link provided, you’ll have the opportunity to experience a 360-degree view of the property, giving you a more immersive and interactive perspective. So why not take advantage of this convenient and innovative tool and discover what this property has to offer?

Location

Sunnyslope, a vibrant neighborhood in Phoenix, AZ, offers a compelling blend of residential charm, strong employment opportunities, and convenient access to urban amenities. Located in the northern part of the city, Sunnyslope is known for its diverse housing options and its welcoming community atmosphere.

One of the key advantages of living in Sunnyslope is its proximity to **John C. Lincoln Hospital**, a major healthcare facility that serves as a significant employment hub in the area. The hospital not only provides a wide range of medical services but also supports numerous jobs in the healthcare sector, making it an important economic anchor for the community.

For outdoor enthusiasts, **North Mountain Park** is a major highlight of the Sunnyslope area. Just a short drive away, this expansive park offers ample opportunities for recreation, including hiking, mountain biking, and bird watching. The park’s trails traverse scenic desert landscapes and provide stunning views of the Phoenix skyline, making it a favorite destination for those who enjoy nature and outdoor activities.

Additionally, Sunnyslope benefits from its excellent connectivity to downtown Phoenix. Residents can easily commute to the city’s central business district via **State Route 51 (the Piestewa Freeway)**. This major highway provides a direct and efficient route, allowing for a quick drive to downtown Phoenix where a range of job opportunities, dining, shopping, and cultural attractions await. The ease of access to downtown makes Sunnyslope an ideal location for professionals who need to commute to the heart of the city while still enjoying the tranquil, community-oriented lifestyle of the neighborhood.

The combination of strong local employment opportunities, convenient access to urban amenities, and proximity to outdoor recreation makes Sunnyslope a highly desirable place to live in Phoenix.

$1,495,000

Sale Price

$117,431

Annual Income combined w/NNN Reimbursement

$3431

Taxes and Insurance that is reimbursed

$114,000

Net Operating Income

7.63%

Actual Cap Rate

Offering Memorandum and Marketing Flyer

To access the Offering Memorandum or the one page Flyer, simply click on the button located below. From there, you’ll be able to download the document in PDF format.

Our Offering Memorandum is an essential resource for anyone who is considering investing in our opportunity. It includes all the necessary information, such as the investment terms, potential risks, financial projections, and more. By reviewing this document, you’ll have a complete understanding of what the investment entails.

If you have any questions or would like to learn more about our investment opportunity, please don’t hesitate to reach out to us. We’re always happy to answer any questions and provide you with the information you need to make an informed decision.

Thank you for considering our investment opportunity, and we hope to hear from you soon!

One Page Flyer-Check it out Offering Memorandum-Check it out!