8939 N 8th St, Phoenix, AZ 85020-8 Units Great Shape-$1,475,000-Leased on a Master NNN Lease

8939 N 8th St, Phoenix, AZ 85020 $1,475,000 Prime 8-Unit Apartment Building with Extensive Upgrades NNN Leased

The Property

FULLY LEASED ON A NNN ABSOLUTE LEASE ( 3 years)
LEASE EXTRACTION:
Monthly Rent: $9,000
Property Taxes: $4,040.32 Paid Monthly
Insurance: $6,200
Tenant pays ALL utilities and maintenance
Lease started: October 28th, 2024
Lease End: 12 months w/two-one year

*Property Highlights (8939 N 8th St):**
– **Comprehensive Renovation:** Extensive upgrades position this building competitively in the rental market.
– **Unit Mix:**
– **6 Units:** 1-bedroom apartments
– **2 Units:** 2-bedroom, 1-bath apartments
– **1 Office Unit:** Currently used as an office space, can be converted to a 1-bedroom apartment upon request.

– **Renovations & Upgrades:**
– **Apartment Upgrades (Rehabbed in 2024):** Each of the 7 units has been thoughtfully updated, with bathroom renovations costing approximately $12,000 per unit.
– **Office/Storage Space Addition:** Added for approximately $100,000, this versatile space can serve multiple purposes.

– **Exterior Enhancements:**
– Brick patio installed in 2019 ($15,000), featuring TV and power outlets.
– Security gate added in 2015 ($5,000).
– New brick wall for added privacy ($5,000).
– New mailboxes installed in August 2024 ($500).

**Property Features:**
– On-site laundry facility
– Two storage units included
– Tenant amenities such as microwaves, refrigerators, and stoves in all units
– Gated property for security and privacy
– Currently leased in a Master Lease on an Absolute NNN Lease

**Financial Overview:**

– **Cap Rate:** Cap rate of over 8%, presenting a lucrative investment opportunity.
– **Income Stability:** Long-term master lease covering 100% of expenses, ensuring predictable rental income.

**Investment Potential:**
These properties represent an attractive opportunity for investors seeking stable cash flow with minimal management involvement. The extensive renovations and enhancements significantly improve the property’s value and marketability.

**Buyer Information:**
Buyer to verify all facts and figures.
Interested buyers are encouraged to contact us for further details and to schedule a viewing of these exceptional investment opportunities.

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.

$1,475,000

Sale Price

$122,540

Annual Income

$0.00

There are no Operating Expenses on a NNN Lease

$122,540

NNN Income

8.31%

NNN 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!