Investment Overview
Gerchick Real Estate is pleased to present 8939 N 8th Street, a fully leased eight-unit multifamily investment in Phoenix, Arizona. Six one-bedroom units and two two-bedroom units are operated under one Absolute NNN master lease. The tenant pays property taxes, insurance, utilities, maintenance and day-to-day operating expenses, providing ownership with a highly passive income stream. The property also includes an on-site laundry room, three storage rooms, gated access, a privacy wall, a paver courtyard and appliances in every unit.
The five-year lease commenced September 1, 2025 and runs through August 31, 2030. Year 2 base rent is $10,600 per month, or $127,200 annually, with $100 monthly increases at the beginning of each remaining lease year. Two five-year renewal options, a personal guarantee and a first right of refusal are included.
The property underwent extensive interior renovations in 2024. The tenant continues to invest in and carefully maintain the property, and a recent appraisal supports the asking price. Seller financing is not available. Buyer to independently verify all facts, figures, lease terms and property information.
Virtual Property Tour
Explore 8939 N 8th Street from anywhere with the interactive 360-degree virtual tour. Move through the property at your own pace to review the exterior, unit interiors, common areas and overall layout before arranging an in-person visit. The property is fully occupied. Please do not disturb residents or contact the tenant directly.
Location & Market Overview
8939 N 8th Street is located in Phoenix’s established Sunnyslope and North Mountain area. The property benefits from nearby healthcare employment, public transportation, recreation, shopping, dining and convenient regional access—important demand drivers for this centrally located multifamily investment.
Strategic Location: Positioned in the Sunnyslope/North Mountain submarket near Central Avenue, Dunlap Avenue and Cave Creek Road.
Area Amenities & Demand Drivers: Close to restaurants, neighborhood shopping, schools, services and North Mountain Park and Preserve.
Employment & Economic Drivers: HonorHealth John C. Lincoln Medical Center is a major nearby healthcare and employment anchor.
Transportation & Regional Access: Near the Sunnyslope Transit Center, with connections to State Route 51 and Interstate 17 for access throughout metropolitan Phoenix.
Current Financial Summary
$1,625,000
Offering Price
$139,777.32
Total Annual Lease Payment
$12,577.32
NNN Reimbursements
$127,200
Year-2 Base Rent
7.83%
Year-2 Cap Rate
Contractual Rent Growth
$1,625,000
Offering Price
$130,800
Year-5 Base Rent
Tenant Paid
Tenant-Paid Operating Expenses
$130,800
Year-5 Net Operating Income
8.05%
Year-5 Cap Rate
Offering Memorandum & Property Flyer
Review the Offering Memorandum and one-page property flyer for property specifications, the Absolute NNN lease structure, current financial information, investment highlights, photographs and available due-diligence materials for 8939 N 8th Street. Select a document below to view or download the PDF.
Property Documents & Due Diligence
Review the available property and due-diligence documents below. Select a document name to view or download the PDF. Available documents will vary depending on the property and should be independently reviewed and verified by the buyer and the buyer’s advisors.
Tenant leases are not publicly posted and will be provided only after the property is under contract to protect tenant privacy.
- Schedule of Rents – Paid Through September 1, 2026
- Current Lease Terms – Effective September 1, 2026
- List of Improvements
- Unit Floor Plans
- Appraiser’s Measurements
- Plat Map
- CC&Rs
- Schedule of Personal Property
- Seller Property Disclosure
- Insurance Loss Run
- Market Conditions Advisory
- Lead-Based Paint Disclosure
Explore additional photographs of 8939 N 8th Street, including the exterior, renovated interiors, units, common areas, parking, gated courtyard and property improvements. These images provide a closer look at the property’s layout, condition and investment potential. Contact Linda Gerchick, CCIM, to schedule a private property tour.
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