$2,945,000
Sale Price
$251,314
Combined Operating Effective Income
$20,180
Operating Expenses for 8939 N 8th Only as 801 E Dunlap is Absolute NNN
$231,134
Combined Net Operating Income
7.85%
Combined Cap Rate
Location for both Properties
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.
The Property-801 E Dunlap Phoenix AZ 85020
**Overview:**
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.
**NNN Lease Structure Explained:**
The property operates under a Triple Net (NNN) lease, where the tenant assumes responsibility for all property expenses including taxes, insurance, and maintenance costs. This ensures predictable cash flow for the investor without the typical day-to-day management hassles.
**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-801 E Dunlap Ave Phoenix AZ 85020
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?
Offering Memorandum and Marketing Flyer-801 E Dunlap Ave
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!
Documents-801 E Dunlap Ave Phoenix AZ
The Property-8939 N 8th St, Phoenix, AZ 85020
**Overview:**
This meticulously upgraded 8-unit apartment complex offers a unique investment opportunity or a versatile property for various uses. The building features a comprehensive renovation and several high-quality enhancements, positioned in a competitive rental market.
**Unit Mix:**
– **6 Units:** 1-bedroom apartments
– **2 Units:** 2-bedroom, 1-bath apartments
– **1 Office Unit:** This is one of the units. Currently used as an office space with a remodeled bathroom. The seller is willing to convert this unit into to a one bedroom apartment if requested prior to the close of escrow.
**Renovations & Upgrades:**
– **Apartment Upgrades (Rehabbed in 2024):**
– **Units 1-7:** Thoughtful updates include new flooring and completely remodeled bathrooms. **Apartment 1** features the most extensive renovations, including full wall and flooring replacements.
– **Bathrooms:** All bathrooms have been remodeled with new flooring, plumbing, toilets, showers, tiling, and cabinets. Each renovation cost approximately $12,000 per apartment.
– **Office/Storage Space (Purple Door):**
– **Building Addition:** Added for approximately $100,000, this versatile space can be used for office purposes or additional storage.
– **Exterior Enhancements:**
– **Brick Patio:** Installed in 2019 at a cost of $15,000, featuring TV and power outlets for enhanced tenant enjoyment.
– **Security Gate:** Added in 2015 for $5,000, providing additional security.
– **New Brick Wall:** A $5,000 investment for added privacy and security between the property and 801 E Dunlap.
– **New Mailboxes and Stand:** Installed in August 2024 for $500, providing a fresh and organized mail solution.
**Property Features:**
– **Laundry Room:** Convenient on-site laundry facility.
– **Storage Units:** Two storage units are included with the property.
– **Tenant Amenities:** All units come equipped with microwaves, refrigerators, and stoves.
– **Gated Property:** Added security and privacy for residents.
– **Vacant Property:** Currently vacant to allow for diverse use options, such as a sobriety house or rental for cash flow.
**Investment Potential:**
With recent extensive renovations and a range of enhancements, this property is ideal for a variety of uses. Its current vacancy allows for flexible applications, whether for immediate rental income or specialized uses.
**Buyer Information:**
– **Note:** Buyers must confirm all facts and figures to ensure accuracy.
Virtual Tour-8939 N 8th St, Phoenix, AZ 85020
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?
We‘d like to invite you to check out the additional photos we have uploaded to our website for our property. These photos offer a more detailed view of the property from various angles and perspectives, giving you a better understanding of its layout and features. Take a few moments to browse through these photos to see for yourself what our property has to offer. We believe that they will provide you with a better insight into our property. Thank you for considering this property, and please don’t hesitate to contact us if you have any questions.
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